Ludhiana's real estate market hits new peak
29 Sep 2023 CW Team
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.