Kuldip Bhatia Ludhiana, December 5 The e-auction conducted by the Ludhiana Improvement Trust (LIT), the second in past three months, turned out to be a big draw bringing in Rs 31 crore to the kitty from the sale of 25 commercial properties (built-up booths and shop-cum-flats) and seven residential plots in various colonies developed by the Trust. The online bidding commenced at 10 am today and closed at 3 pm. Giving details, LIT Chairman Raman Balasubramanium said bids were offered for some other properties put on the block as well, but in some cases, the amount was below the market price or else the number of bidders was less than three. Of the 25 commercial properties sold in the e-auction at an average premium of more than 10 per cent were five booths at Maharishi Valmiki Nagar, three booths at Kitchlu Nagar, two booths at Shaheed Bhagat Singh Nagar and 15 shop-cum-flats at Bhai Randhir Singh Nagar. Besides, seven residential plots at Kitchlu Nagar have found buyers. In a history of sorts, one built-up corner booth at Kitchlu Nagar with a reserve price of Rs 14.60 lakh was taken for almost Rs 59 lakh, or in other words, at a 400 per cent premium, said the LIT Chairman. In the first ever e-auction of properties held in September 2019, the LIT had sold 18 properties for Rs 16.60 crore at a handsome premium ranging between 70 and 300 per cent. Properties offered for sale in the second e-auction included 19 residential plots at Kitchlu Nagar, 19 shop-cum-flats (SCFs) at Bhai Randhir Singh Nagar, 23 booths at Maharishi Valmiki Nagar, three booths at Kitchlu Nagar and two booths at Shaheed Bhagat Singh Nagar Colony. The successful bidders would have to deposit 10 per cent of the total cost of property after adjustment of eligibility fee already deposited within next four days and balance 15 per cent within 30 days of the issue of allotment letter.

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