Ludhiana's real estate market hits new peak

In what seemed to signal a revival in the real estate market, a substantial five-acre land parcel was recently sold in Ludhiana for an impressive sum of Rs 2.2 billion. This sale marked a significant milestone for the real estate market in the city, which had previously endured a prolonged period of stagnation. The Rail Land Development Authority (RLDA) facilitated the auction of this 5-acre multi-functional complex (MFC) site to a prominent real estate developer for the aforementioned amount. The site's proximity to the ongoing redevelopment of the railway station, a project costing Rs 5.29 billion, added to its appeal. A senior official from RLDA revealed that the land, designated for mixed-use purposes, was auctioned through a competitive bidding process. Situated near the Ghumar Mandi Fountain Chowk, a central location in the city, the land offers opportunities for both residential and commercial development.

Related Stories

Redeveloped Nagpur Station to Accommodate 98,000 Passengers

The redeveloped station will have dedicated areas for arrivals and departures.

Omaxe secures 5+ acre RLDA land in Ludhiana at Rs 2.2 bn

The acquisition was made through a competitive bidding process

Railways expedite commercial land monetisation through private leasing

Authority has been designated for development of 119 commercial sites