LUDHIANA: The Ludhiana Improvement Trust (LIT) officials said they are awaiting the fixation of reserve prices to conduct the e-auction of the properties.
The LIT has sent a list of properties to the deputy commissioner for rate fixation. The reserve price for properties of other improvement trusts will also be fixed shortly as local bodies minister Balkar Singh has issued instructions in this regard.
Meanwhile, the LIT has given funds to other improvement trusts in the state, which will return the amount once their properties are auctioned. The LIT has given around Rs 54 crore to Jalandhar, Rs 3 crore to Gurdaspur, Rs 2.50 crore to Punjab water supply and sewerage board, Rs 1.8 crore to Phagwara and Rs 5 crore to Ludhiana MC. Besides, LIT also gave 1.13 acres of land at Ferozepur Road and 7.50 acres of land at Keys hotel road to the civic body.
LIT chairman Tarsem Bhinder said, “We plan to auction prime properties in January next year to generate income. The reserve prices of these properties are to be fixed by the rate fixation committee under the chairmanship of the DC.”
Regarding money lent to other improvement trusts, he said, “We have written to the authorities concerned. Even they are trying to auction their properties so we will be able to get the funds back once it’s done.”
As the chairman has asked the officials to take action against encroachers, lists of encroached properties are being prepared.
Notably, the LIT officials have been instructed to stop approving development works under Section 69-A (according to which LIT can take up development works in areas outside its jurisdiction) for some time. As per officials, local bodies minister Balkar Singh has also asked them to concentrate on areas under their jurisdiction. Above all, improvement trusts across state have restricted sources of money so they should secure funds. However, the officials claimed that when they will have extra funds, they will be told to provide financial aid to other cities.
