SBI Term Loan: RLLR: 8.15 | 7.25% - 8.45%
Canara Bank: RLLR: 8 | 7.15% - 10%
ICICI Bank: RLLR: -- | 8.5% - 9.65%
Punjab & Sind Bank: RLLR: 7.3 | 7.3% - 10.7%
Bank of Baroda: RLLR: 7.9 | 7.2% - 8.95%
Federal Bank: RLLR: -- | 8.75% - 10%
IndusInd Bank: RLLR: -- | 7.5% - 9.75%
Bank of Maharashtra: RLLR: 8.05 | 7.1% - 9.15%
Yes Bank: RLLR: -- | 7.4% - 10.54%
Karur Vysya Bank: RLLR: 8.8 | 8.5% - 10.65%

Location : Ludhiana

Vardhman Amrante to bring Westin hotel to Ludhiana with INR 260 crore investment

01 Jul 2025

Vardhman Amrante Pvt Ltd, the real estate arm of the Oswal Group, has committed an investment of INR 260 crore to develop a 200-key five-star hotel in Ludhiana, Punjab. The project will be operated under the 'Westin Hotels & Resorts' brand by Marriott International. The hotel will form part of a seven-acre commercial complex spanning 17 lakh sq ft, with construction expected to begin in the coming year and the hotel slated to open in the final quarter of 2030. This initiative marks a key milestone in the company's continued expansion in Punjab's real estate market.Read more

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Environmental activists challenge Ludhiana authorities over illegal construction on protected green spaces

28 May 2025

Environmental activists in Ludhiana have issued a legal notice to municipal authorities for allegedly allowing illegal construction on protected greenbelt areas, violating Supreme Court and National Green Tribunal (NGT) directives. The Public Action Committee (PAC) has given officials a three-week deadline to reverse the encroachments or face legal escalation before the NGT. Activists accuse agencies like the Ludhiana Municipal Corporation, Improvement Trust, and GLADA of collusion in facilitating these violations, including building extensions on parkland. They demand restoration of affected areas and strict adherence to environmental laws. The case highlights growing tensions between urban development and ecological protection, potentially setting a precedent for other cities.Read more

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LIT launches land pooling initiative to acquire land for new urban development in Ludhiana

26 May 2025

The Ludhiana Improvement Trust (LIT) is seeking to revive its role in the city's development after most of its residential colonies were transferred to the municipal corporation. With limited ongoing projects-only the Atal Apartment scheme-LIT now plans a new residential-cum-commercial project using a land pooling model. Landowners within or near municipal limits are invited to contribute land in exchange for developed plots. The initiative, previously attempted under an earlier chairman, is being revived under current chairman Tarsem Bhinder, focusing on areas near Sidhwan Canal and Lohara. The plan aims to reestablish LIT's relevance by promoting planned, participatory urban growth in Ludhiana.Read more

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Ludhiana civic body intensifies efforts to recover pending property tax dues

14 May 2025

The Ludhiana Municipal Corporation (MC) has escalated its efforts to recover outstanding property tax dues from government departments. Notices have been issued to various departments, including the Greater Ludhiana Area Development Authority (GLADA), Public Works Department, and Punjab Agricultural University, for properties where commercial activities are conducted without tax payments. MC officials are also displaying photographs of defaulting properties to encourage compliance. Last year, the MC successfully met its tax collection targets and aims to exceed them this year. If departments fail to settle their dues, the MC plans to inspect properties, calculate the tax owed, and take enforcement actions, including sealing buildings if necessary.Read more

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Ludhiana Improvement Trust urges property owners to avail of one-time settlement schemes

13 May 2025

The Ludhiana Improvement Trust (LIT) has launched two one-time settlement schemes aimed at easing the financial burden on property owners. These policies offer significant discounts on non-construction fees and provide an opportunity for allottees with pending dues to regularize their properties. Eligible individuals, such as senior citizens and legal heirs of deceased soldiers, are entitled to additional benefits. Property owners must submit their applications by July 31 to take advantage of these schemes, which aim to enhance urban development and compliance in Ludhiana.Read more

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Nexus Select Trust adds 0.3 mn sq ft Grade-A asset in Ludhiana for INR 531 cr

09 May 2025

Nexus Select Trust recently announced it has successfully acquired a commercial complex in Ludhiana that included a 96-key Radisson Hotel and a shopping mall. The transaction, valued at an enterprise amount of INR 531 crore, includes a purchase consideration of INR 490 crore, associated stamp duty of INR 10 crore, and provisions for capital expenditure, such as hotel renovations and mall upgrades. The MBD Complex, a Grade-A urban consumption centre, spans approximately 0.3 million square feet with a current occupancy rate of 95 per cent. Nexus Select Trust, India's first publicly listed retail REIT, continues to expand its diversified portfolio, which now includes 19 shopping malls, three hotel assets, and three office assets.Read more

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Ludhiana's C&D waste processing plant set to open in Dhandhari

29 Apr 2025

Ludhiana is on the verge of launching a much-anticipated construction and demolition (C&D) waste processing plant in the Dhandhari area. Originally estimated at INR 2.69 crore, the project's cost escalated to INR 7.5 crore due to unforeseen challenges, including the site's history as a former dumpsite. Despite these setbacks, the plant is now nearly complete, with civil construction and machinery installation finished. Once operational, it aims to process 100 tonnes of C&D waste daily, addressing the city's ongoing waste management issues.Read more

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LIT awaits nod for Lohara-Jaspal Banger township plan in Ludhiana

24 Apr 2025

The Ludhiana Improvement Trust (LIT) has been awaiting approval from the local bodies department for its proposed residential and commercial development near Lohara and Jaspal Banger. The plan, initiated in 2023, involves acquiring at least 100 acres to establish a mixed-use township featuring residential units, hotels, restaurants, and theatres. Despite completing internal planning and submitting a resolution, LIT has yet to receive a response. Additionally, LIT has proposed transferring maintenance responsibilities of existing areas to the Municipal Corporation due to limited resources, leaving the Atal Apartments project as its primary focus.Read more

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Ludhiana Improvement Trust awaits final notification on non-construction fee rebate

17 Apr 2025

The Ludhiana Improvement Trust (LIT) is awaiting the final notification from the Punjab government to begin offering a rebate on non-construction fees (NCF) for plot allottees. While the state cabinet has approved a discount on these dues, the process cannot begin until the official notification is received. Plot holders who delay construction face NCF charges, and many allottees remain unaware of these regulations, leading to an estimated INR 30 crore in unpaid dues. LIT is also dealing with issues related to property sales where new owners fail to register.Read more

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Nexus Select Trust to complete mall acquisition in Ludhiana for INR 490 crore

04 Apr 2025

Nexus Select Trust, a retail REIT backed by Blackstone, is set to finalise its acquisition of a shopping mall and hotel in Ludhiana for INR 490 crore. The MBD Neopolis in Ludhiana includes a Grade A mall and Radisson Blu hotel. This acquisition, set to be completed within two months, will contribute an additional rental income of INR 40-45 crore annually and will expand its existing presence across Delhi, Chandigarh, Amritsar, and Udaipur. The company, which currently has a portfolio of 17 malls across India with a gross leasable area of about 10 million square feet, is aiming to double its retail real estate portfolio to 20 million square feet by 2030.

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Ludhiana Municipal Corporation takes strict action against illegal constructions

19 Mar 2025

The Ludhiana Municipal Corporation intensified its action against illegal constructions by demolishing six structures and clearing eight encroachments in different areas of the city. Additionally, officials sealed five unauthorized shops in Pritam Nagar, Barewal Road, and 200 Feet Road. Industrial buildings and a labor quarter under construction were also razed, along with multiple encroachments near Krishna Mandir and Amardas Colony. This crackdown follows a series of past actions, including demolitions in Star Road, Tajpur Road, and Lohara, highlighting the MC's continued efforts to curb unauthorized development. However, the drive faced resistance from shopkeepers in Model Town Extension, who accused authorities of selective action.Read more

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Municipal Corporation of Ludhiana seals 3 illegal shops in model town extension

14 Mar 2025

The Municipal Corporation of Ludhiana (MCL) sealed three unauthorized shops in Model Town Extension (Block B) as part of its intensified crackdown on illegal constructions. Inspections in Raghunath Enclave found no violations, with the project adhering to urban planning norms. MCL Commissioner Aaditya Dachalwal warned of strict actions against non-compliant builders, aligning with similar enforcement drives in Chandigarh, Amritsar, and Delhi. With rapid urbanization, Punjab's municipal bodies are strengthening regulations, following Delhi Development Authority's (DDA) model of demolitions and fines to curb unauthorized construction and encroachments.Read more

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Ludhiana: LMC intensifies efforts to recover property taxes

10 Mar 2025

The Ludhiana Municipal Corporation is intensifying efforts to meet its property tax collection goal before the fiscal year ends. The original INR 200 crore target was lowered to INR 154 crore, with INR 134 crore collected so far. Officials are contacting defaulters and warning of penalties doubling from 10% to 20% plus interest for non-payment. Despite these measures, many property owners remain reluctant, hoping for a one-time settlement. Mayor Inderjit Kaur has urged citizens to pay taxes to support civic services. The drive's success will shape next year's INR 160 crore tax target and municipal funding.Read more

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Ludhiana Housing: GLADA evicts illegal occupants from low-income flats in Sector 40, Ludhiana

07 Mar 2025

The Greater Ludhiana Area Development Authority (GLADA) conducted an eviction drive in Sector 40, Chandigarh Road, removing illegal occupants from three low-income group flats. These flats were part of a court case over unauthorized occupancy. GLADA initially built 319 flats, of which 82 were illegally taken over. After previous evictions, only three units remained occupied, which were cleared by breaking locks and sealing the flats. This effort is part of GLADA's wider crackdown on illegal housing and encroachments. The authority continues to issue warnings and demolish unauthorized settlements, ensuring that government housing is used lawfully and benefits rightful beneficiaries.Read more

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Ludhiana Municipal Corporation seals parts of 6 hotels over illegal construction

05 Mar 2025

The Ludhiana Municipal Corporation (MC) has sealed portions of six hotels, including Hotel Friends Regency, Hotel Nagpal Regency, and Hotel Onn, for building violations. This action follows a Punjab and Haryana High Court directive to curb illegal construction. Hotel owners now face legal consequences for deviating from approved building plans. Similar enforcement drives are underway in Amritsar, Jalandhar, and Chandigarh, targeting unauthorized structures. As Punjab cities expand, illegal construction remains a challenge. The Punjab government is considering simplified approval processes to balance urban growth with regulatory compliance and safety standards.Read more

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Nexus Select Trust sanctions purchase of MBD Neopolis in Ludhiana

26 Feb 2025

Nexus Select Mall Management, as the trustee manager of Nexus Select Trust, has sanctioned the purchase of MBD Neopolis Mall in Ludhiana from AKM Enterprises at an enterprise value of INR 4,900 million. The deal was done through Select Infrastructure, a special purpose vehicle (SPV) of the trust. The asset covers a leasable area of about 255,666 sq ft and houses the Radisson Blu Hotel MBD on Ferozpur Road. Ludhiana's retail rental space is competitively priced, with prices usually falling in the range of INR 50 to INR 110 per sq ft per month, while ground floor inline spaces are fetching premiums between INR 160 and INR 280 per sq ft per month across categories. The acquisition is in line with Nexus Select Trust's strategic growth in India's increasing organised retail market.Read more

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Ludhiana: GLADA demolishes illegal colonies on Ludhiana's outskirts to curb unplanned development

19 Feb 2025

The Greater Ludhiana Development Authority (GLADA) continued its crackdown on unapproved and haphazard development, demolishing three illegal colonies on the outskirts of the city, in Ladian Kalan and Hussainpura. The demolition, led by district town planner Sandeep, included the removal of boundary walls, roads, passages, and sewer manholes under construction. GLADA also warned the public against investing in such unapproved colonies, urging action against those misleading residents with promises of cheap plots in areas that fail to meet government standards. Past efforts by GLADA highlight the ongoing battle against illegal development in Ludhiana.Read more

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Ludhiana: Chief Information Commissioner orders action on illegal colonies in the region

11 Feb 2025

Punjab State Chief Information Commissioner Inderpal Singh has directed authorities to conduct a survey of unauthorized colonies in Ludhiana, highlighting the state's failure to assess illegal settlements for seven years. The order follows a Right to Information (RTI) request where the Greater Ludhiana Area Development Authority (GLADA) failed to provide a clear list of unauthorized colonies, citing outdated 2018 data. The directive aims to prevent financial losses and improve urban planning. Residents express concerns over unchecked illegal developments, urging greater transparency and accountability from the government to regulate unauthorized colonies effectively.Read more

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Ludhiana MC revives UID plate project with drone mapping and World Bank funding

06 Feb 2025

The Ludhiana Municipal Corporation (MC) is set to make its third attempt in eight years to implement its UID plate project, which aims to create a comprehensive database for all city properties. The project, which involves assigning unique identification numbers to properties for better tracking of dues and ownership, will be funded by the World Bank. Past attempts faced challenges, including low public response and disputes with contractors. The new phase will focus on mapping remaining properties using drones. If successful, the project could simplify property transactions, reduce fraud, and improve service efficiency.Read more

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Ludhiana Municipal Corporation urges timely property tax payments to avoid penalties

30 Dec 2024

The Ludhiana Municipal Corporation (MC) has reminded residents to pay their 2024-25 property tax by December 31 to avoid a 10% penalty. Payments made before the deadline will incur no penalties, while delays beyond March 31 will attract a 20% penalty and 18% annual interest on outstanding amounts. To facilitate timely payments, Suvidha Kendras will remain open on December 28 and 29. The MC is also promoting digital payment options for convenience. Property tax revenues fund essential city services such as waste management, road maintenance, and community projects. Residents are encouraged to act promptly to contribute to Ludhiana's development.Read more

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