For years, Sangarmaal City Centre was meant to become one of Srinagar’s modern commercial landmarks. Instead, the ambitious complex slowly turned into what many would describe as a ghost mall, with shuttered shops, empty spaces and weeds replacing the bustle expected at the site.
Now, the property has attracted remarkable attention after a 45-kanal parcel surrounding the complex fetched a winning bid of Rs 421.75 crore in an overnight auction.
A mall built for crowds became strangely quiet
Sangarmaal City Centre traces its beginnings to 2015, when the project was announced as a major commercial development for Srinagar.
The complex was designed with dozens of shops, Craft Bazaar spaces, kiosks, food courts, a restaurant and offices. It also featured parking areas, lifts, escalators, landscaped spaces and fountains.
But the promised crowds never arrived.
Many shops remained shut even after being acquired, while large parts of the premises became overgrown. A development planned as a lively commercial destination instead struggled to attract regular visitors, leaving behind the atmosphere of an abandoned or “ghost” mall.
Then the empty land caught everyone’s attention
The 45-kanal parcel being offered on a full-lease basis lies around the front and rear portions of Sangarmaal.
Its location makes it particularly attractive. The property is close to Kashmir Golf Course, opposite Polo View and near Chunt Khul. Dal Lake is around 1km away, while Lal Chowk is also within easy reach.
The auction began at 11am on August 25, with the government expecting bids of around Rs 200 crore.
Instead, the bidding continued into the early hours of August 26, eventually reaching Rs 421.75 crore.
One huge bid could change the story
Parmesh Construction Company Ltd, a consortium involving Pahalgam Green Hotels, a Jammu and Kashmir-based firm and Bhutani Infra Ltd, emerged as the successful bidder.
Plans include a multiplex and other commercial facilities, potentially bringing fresh activity to an area that has struggled to fulfil its original promise.
The dramatic auction has therefore put Sangarmaal back in the spotlight — but this time for a very different reason.
Srinagar sees another big property battle
The interest has not stopped at Sangarmaal.
At Batamaloo, around 6km away, about 70 kanals of largely underused bus-stand land was put up for redevelopment. Bidding began at Rs 95 crore on August 27 and rose to Rs 305 crore by the evening.
Construction Engineers emerged as the highest bidder, with plans for shopping, offices and housing.
For Sangarmaal, however, the bigger question is whether the latest investment can finally breathe life into a commercial complex that spent years looking more like a ghost mall than the bustling destination it was designed to be