Improvement Trust strikes it rich

Kuldip Bhatia
Ludhiana, September 20

Ludhiana Improvement Trust (LIT) has taken a great leap forward towards consolidating its precarious financial condition and getting into a position to accelerate pace of development in existing colonies and also plan new schemes in the city. A proposal of the LIT to sell a 12.20-acre piece in Shaheed Bhagat Singh Nagar on Pakhowal Road here to the Goods and Service Tax (GST) Department, which has been duly approved by the Local Government Department, would yield a staggering Rs 138.23 crore to the Trust kitty.

According to LIT Executive Officer HS Sandhu, the department, through its commissioner, had evinced interest in purchasing 12.20-acre land in Shaheed Bhagat Singh Nagar for construction of its main office and residential flats in October 2018. The Trust had regained possession of 18.80 acre just about that time after clearing encroachments and as per the layout of the scheme, the site was reserved for multi-storey flats.

At its meeting held on July 25, 2019, immediately after the new chairman Raman Balasubramanium had assumed office, the Trust had approved the proposal to sell the land to the department at a reserve price of Rs 23,411 per square yard, determined by the government for the financial year 2019-20. The meeting had taken note of the recommendation in favour of the sale of land made by a three-member committee set up for this purpose in accordance with Section 8 of the Punjab Town Improvement (Utilisation of Land and Allotment of Plots) Rules 1983.

Sandhu said the resolution approved by LIT for sale of land to the department had received the statutory nod from the Local Government Department (vide office letter no S-2-DLG-TSC-2019/35710 dated August 6, 2019.

While the acceptance of the offer for purchase of land made by the department had been conveyed to the department, LIT, in the meantime, has also moved a proposal under Section 43 of the Punjab Town Improvement Act 1922 for change of land use as laid down in the original lay out plan of the colony.