Ludhiana: Decade on, improvement trust struggles to auction complex

Completed in 2007 at a cost of around ₹15 crore, its infrastructure boasts two basement levels for parking, alongside a range of amenities, including restaurants, coffee shops, banks, showrooms, and offices

For over a decade, the Ludhiana Improvement Trust has failed to put to use its multi-crore commercial complex at Rani Jhansi Road.

Spanning across approximately 2.2 acres, the complex was envisioned as a lucrative hub for business activities. (Gurpreet Singh/HT)

The complex lies abandoned, failing to attract any takers despite several attempts by successive governments. The authorities have been trying to sell the complex since 2009 but to no avail.

Spanning across approximately 2.2 acres, the complex was envisioned as a lucrative hub for business activities. Completed in 2007 at a cost of around ₹15 crore, its infrastructure boasts two basement levels for parking, alongside a range of amenities, including restaurants, coffee shops, banks, showrooms, and offices.

According to Ludhiana Improvement Trust officials, the built-up area encompasses 8,234 square yards, with parking provisions for up to 250 cars and nearly 100 two-wheelers across the basements and ground floor.

The complex’s design strategically allocated space for various commercial enterprises, with banks, showrooms, restaurants, and offices spread across multiple levels, including a top floor earmarked for residential units.

Despite its promising layout and potential, the complex has failed to ignite investor interest. Initially offered for auction at ₹197 crore in 2009 and 2013, subsequent attempts to offload the property saw the reserve price slashed to ₹157 crore in the last two auctions held by the Trust. Even with these reductions, the complex remains unsold, prompting the local bodies department to form a committee to reevaluate its pricing, ensuring it aligns with market realities.

Trust officials lament the lack of revenue generation from the property, coupled with the visible decay of its infrastructure over time. Despite concerted efforts to entice bidders, the complex stands as a testament to unfulfilled potential, with its once-promising prospects now dwindling amidst neglect and disuse.

Ludhiana Improvement Trust chairman Tarsem Singh Bhinder said, “I have already sent a proposal to the deputy commissioner, who is the in-charge of rate fixation committee, and I have given the slabs of rates which can be undertaken by the DC.”