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Nawanshahr: The Nawanshahr Improvement Trust is set to revive a long-pending development project in Pandora Mohalla, where around four acres of land that remained entangled in legal disputes for years will now be developed and put up for auction.
The land, estimated to be worth around Rs 25-30 crore , is being cleared as the Improvement Trust moves ahead with plans to develop 30 residential plots and 19 Shop-cum-Office (SCO) commercial sites .
The proposed Nawanshahr property auction is expected to generate revenue worth several crores for the Improvement Trust once the residential plots and commercial sites are auctioned.
According to the plan, the Improvement Trust will develop a total of 49 properties , comprising 30 residential plots and 19 SCO complexes on the land at Pandora Mohalla.
The site is currently being cleaned, following which boundary work is expected to begin. The move marks a fresh attempt to utilise a valuable parcel of land that has remained caught up in disputes for nearly two decades.
The land had originally been earmarked for a residential colony, but the project could not progress as planned due to legal complications.
The development plan for the nearly four-acre parcel was prepared in 2006 under the name Rajiv Gandhi Sudhar Trust .
The proposal envisaged the development of:
The project had also received financial backing from the Amritsar Improvement Trust , which invested several crores in the development.
The Nawanshahr Trust had reportedly borrowed the money from the Amritsar Improvement Trust on interest, with the intention of repaying the amount after the sale of the developed properties.
However, the proposed colony could not be sold, resulting in the outstanding liability continuing to increase.
The financial burden associated with the project had reportedly reached around Rs 2.5 crore in 2017 .
With interest accumulating over the years, the outstanding amount is now estimated at approximately Rs 5.5 crore .
The proposed auction of residential plots and commercial SCO sites could therefore provide the Improvement Trust with a significant source of revenue and help address its financial liabilities.
The Pandora Mohalla land has previously been at the centre of allegations and counter-allegations involving the Improvement Trust and the local civic body.
Improvement Trust chairman Satnam Jalwaha had last year alleged that garbage was repeatedly being dumped on the valuable property, claiming that the practice was intended to benefit a particular coloniser.
At the time, Municipal Council president Balwinder Kaur rejected the allegations and said that the Municipal Council itself was responsible for lifting garbage from the site.
Jalwaha had also alleged that old records relating to the Improvement Trust's Pandora Mohalla office had gone missing.
According to his claim, the records disappeared around the time development work was initiated after the government released approximately Rs 1.5 crore for the project.
With the legal issues surrounding the land and colony now addressed, the Improvement Trust has restarted efforts to develop the site.
The proposed 30 residential plots and 19 commercial SCO sites in Nawanshahr could provide an opportunity for prospective property buyers and businesses looking for plots in the area.
The auction is also expected to help the Improvement Trust monetise the valuable land and recover part of the accumulated project-related liabilities.
Further details such as the auction date, reserve prices, plot sizes, eligibility conditions, registration process and earnest money deposit (EMD) are expected to be announced by the Improvement Trust separately.
| Property | Number |
|---|---|
| Residential plots | 30 |
| Commercial SCO sites | 19 |
| Total properties | 49 |
| Land area | Nearly 4 acres |
| Estimated land value | Rs 25-30 crore |
| Outstanding liability with interest | Around Rs 5.5 crore |
The development is being closely watched as the Nawanshahr Improvement Trust property auction could finally put a long-delayed project on the path to completion.
The Punjab property auction plan involves 30 residential plots and 19 commercial SCO sites at Pandora Mohalla in Nawanshahr. The nearly four-acre parcel, valued at an estimated Rs 25-30 crore , has remained embroiled in disputes for years. The Improvement Trust is now clearing the site and preparing for redevelopment and auction.
