53 commercial, 27 residential sites to go under hammer in Ludhiana

53 commercial, 27 residential sites to go under hammer in Ludhiana

Ludhiana Improvement Trust mega e-auction

Kuldip Bhatia

Ludhiana, November 24

Ludhiana Improvement Trust (LIT) will conduct yet another mega e-auction in which 53 commercial sites/built-up properties and 27 residential plots, under various schemes, would be sold to the highest bidders with a combined reserve price of nearly Rs30 crore. The e-bidding process will start at 9 am on November 26 and close at 3 pm.

The Trust had made the offer for sale of these commercial and residential properties through e-auction, with commencement of registration of intending bidders from October 26. The bidding closed on November 22.

The intending bidders were required to deposit five per cent of the reserve price of the site/property as earnest money and in case of acceptance of the bids, 10 per cent initial deposit, along with the cess, has to be deposited by December 1, 2021.

Among the commercial sites/built-up properties offered for sale, four shop-cum-flat (SCF) sites and 11 built-up booths are in Bhai Randhir Singh Nagar, 24 booths are in Shaheed Bhagat Singh Nagar, four booths in Kitchlu Nagar, six booths and four special purpose shops (one each reserved for coal depot, printing press, bakery and aata chakki) are in Maharishi Valmiki Nagar.

All 53 commercial sites/properties put together carry a cumulative reserve price of around Rs9.78 crore.

Residential plots varying from 100 square yards to 589.26 square yards put on the block in the e-auction include three plots in Rajguru Nagar, five in Maharishi Valmiki Nagar, four in Kitchlu Nagar, one in Model Town Extension and 14 residential plots in Shaheed Bhagat Singh Nagar colonies.

Up for grabs

  • e-bidding process will start at 9 am on November 26 and close at 3 pm
  • Four shop-cum-flat sites and 11 built-up booths are up for grabs in Bhai Randhir Singh Nagar
  • 24 booths are on sale in Shaheed Bhagat Singh Nagar, four booths will be on auction in Kitchlu Nagar
  • Six booths and four special purpose shops in Maharishi Valmiki Nagar will also go under the hammer
  • Residential plots to under the hammer include three plots in Rajguru Nagar, five in Maharishi Valmiki Nagar, four in Kitchlu Nagar and one in Model Town Extension
  • 14 residential plots will be on sale in Shaheed Bhagat Singh Nagar

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