Ludhiana: In the absence of planning, management and marketing skills with Greater Area Development Authority (GLADA) and Improvement Trust Ludhiana, the state government has failed to earn handsome amount from the sale of properties which could help in development and end the financial crisis of the state. Several properties meant for auction in the industrial hub- Ludhiana, has been unable to find the customers due the apathy of concerned authorities. The prime chunk of lands, shop-cum-flats, multi-storey buildings were put on auction several times but the authorities failed to generate money. However the government officials cited the recession in real estate market as reason behind the unsuccessful auctions but leading real estate agents feel that the properties could easily fetch several crores if the authorities sell these with proper planning. Some of the properties which could generate at least ` 1,000 Crore for the state government are commercial complex of improvement Trust, prime chunk of land of Irrigation Department, land reserved for the five star hotel at Chandigarh road, shop-cum-flats in Bhai Randhir Singh Nagar and others. No Buyer for Prime property The 7,934-square yard commercial complex having a reserve price of Rs 197 crore at the prime location on Maharani Jhansi road is a perfect example of wastage of government money.
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