Ludhiana Improvement Trust to re-auction commercial complex on Maharani Jhansi Road

The fate of Ludhiana Improvement Trust’s (LIT) commercial complex on Maharani Jhansi Road, Ghumar Mandi, may change as the LIT has once again decided to bring it under the hammer.

The complex has turned out to be a white elephant for the LIT. Built some 18 years ago, this 2.22-acre commercial complex, constructed at a cost of approximately Rs 16 crore has failed to find any takers in the past due to high reserve price. A year ago, the LIT planned to shift its own office to this building, but even that plan fizzled out.

LIT Chairman Tarsem Bhinder while confirming the development said that they were once again considering to put the complex on auction. “The decision for auction has been taken, but all other formalities like deciding the reserve price and other terms and conditions are yet to be finalised,” he said.

Multiple efforts have been made for its auction in the past as a single unit for Rs 197 crore, but these have failed as there were no takers. In 2010, a plan was made to relocate powercom office here, in 2013 for relocating Income Tax Department and in 2018 the plan was to convert it into jewellers market.

Then in 2019, there was a proposal to use the building basement as a parking lot, but this could not materialise. In 2024, the LIT decided to move its own office here, but even that failed. Even a proposed 20 per cent reduction in price to Rs 158 crore during the tenure of the previous Congress government failed to attract buyers.

In absence of any caretaker, the paint and plaster on the façade is wearing off, floor tiles on the ground parking are coming off and the vacant area all around the complex has become a safe haven for vendors and anti-social elements. The complex has two-level parking in lower and upper basement, coupled with surface parking on the ground floor. It has parking space for 250 cars and nearly 100 two-wheelers.

An LIT official shared that according to the original plan, there was provision for four banks and 14 showrooms on the ground floor, two food courts, two department stores and 11 showrooms on the first floor, 14 offices and two shops each on second, third and fourth floors. The top floor (fifth) was designed as a residential area with 10 apartments, each having three bedrooms and a carpet area of 1,796 square feet.