Municipal Corporation Ludhiana fetches Rs.1.58 crores from auction of 5 parking lots

Ludhiana, July 11, 2016: The Municipal Corporation Ludhiana successfully auctioned its five parking lots through e-auction on Monday. The officials claimed to have generated profit through this auction and very shortly they would be handing over the parking lots to the contractors. This time, e-ticketing has been made compulsory for the parking contractors and the officials would ensure the same.
The parking site of Sarabha Nagar Kipps Market went to Arjun Yadav and Company at Rs 21 lakh whereas its reserve price was Rs 19.50 lakh. Similarly the parking site of Feroze Gandhi Market also went to Arjun Yadav and Company at Rs 31.25 lakh against reserve price Rs 29 lakh.
Meanwhile, the parking sites of Sarabha Nagar Market (block-I) went to Sonu Enterprises at Rs 2.50 lakh against reserve price Rs 2.25 lakh, parking site of Ferozepur Road from Jagraon Bridge till Sidhwan Canal went to Sachin Sharma at a cost of Rs 75.50 lakh against reserve price Rs 70 lakh and Multi level parking complex went to LRY Labour Contractor at a cost of Rs 28.25 lakh against reserve price Rs 27.50 lakh.
According to available information, technical bid was opened on July 8 and at that time eight bidders had participated but seven qualified while one was disqualified. He shared that out of these seven bidders four became successful in getting the parking sites while giving the highest auction amount.
The Corporation has received good response from the e-auction as last year it had generated Rs 1.48 crores from the auction of these five sites and now this year the amount has increased to Rs 1.58 crores.