Ludhiana Improvement Trust to e-auction 36 commercial properties

The Ludhiana Improvement Trust (LIT) is going to organize e-auction of its prime commercial properties at half of market price on September 10 and it will continue till September 24. The LIT has become first improvement trust in state to start e-auction of properties. However, the previous bids were not successful therefore the revised prices of the properties are slashed down so as to attract bidders. The officials claimed it will become a routine feature of the buyers and since it is an e-auction people from outside can also participate. The properties including 4 corner booths in Maharishi Balmiki Nagar (reserve price 11.96 lakh per booth), 11 booths in Maharishi Balmiki Nagar (reserve price Rs 11.53 lakh per booth), 7 booths in Kitchlu Nagar (reserve price Rs 14.50 lakh), 9 shop cum flats in BRS Nagar (Rs 1.46 crore) and 5 booths in Shaheed Bhagat Singh Nagar (12.87 lakh per booth).