At the Price Fixation Committee meeting of LIT, Arora suggested keeping property rates unchanged to achieve a higher success rate
Fact News Service Ludhiana, May 2: At a meeting held at the Deputy Commissioner’s office on Friday, Rajya Sabha MP Sanjeev Arora raised the long-pending issue of the multi-crore commercial complex on Rani Jhansi Road, which has remained abandoned for decades despite several efforts to attract buyers.
The meeting, attended by Deputy Commissioner Himanshu Jain and Ludhiana Improvement Trust (LIT) Chairman Tarsem Singh Bhinder, focused on the underutilised commercial property completed in 2007 at a cost of approximately Rs.15 crore. MP Arora suggested that the complex be rented out in parts, stating that it could generate substantial revenue for LIT. Currently, the structure is proving to be a “white elephant” due to its prolonged disuse.
Describing the property as “prime real estate in a prime location,” Arora also suggested that the complex be renovated before being rented out, citing its dilapidated condition. He warned that the building’s neglect has led to misuse by anti-social elements, creating potential law and order concerns in the area.
Spread across 2.2 acres, the complex includes two basement levels with parking for 250 cars and nearly 100 two-wheelers. The infrastructure was designed to accommodate restaurants, coffee shops, banks, showrooms, and offices. Despite repeated attempts to sell the property since 2009, no buyers have come forward.
Following Arora’s proposal, the Deputy Commissioner instructed LIT officials to prepare a proposal for renting out the property.
Arora also participated in the Price Fixation Committee meeting of the Ludhiana Improvement Trust (LIT), held at the DC office. During the meeting, he suggested not to increase the prices of LIT properties that have remained unsold despite two auctions. He emphasised that further price hikes would only discourage potential buyers. Arora suggested that maintaining the existing reserve prices for such properties would likely result in a higher success rate in future auctions. His recommendation was accepted during the meeting.
