People’s Democratic Party (PDP) leader Iltija Mufti alleged that Kashmir’s land and prime estate was being auctioned to outsiders by the Jammu & Kashmir government.
Mufti made these remarks after reports emerged that the 45 kanals of land of Sangermal shopping complex, at a prime location in the city centre, was leased out by the government for ₹421.75 crore.
“Kashmir’s land & its prime estate is being auctioned off by the NC government to outsiders. People were promised that their land, jobs & identity would be secured. Instead it’s being parcelled off at the speed of light,” Mufti said on X.
Mufti said Sangermal City Centre spread over 45 kanals in the heart of Srinagar has been handed over to Parmesh Construction – a non-local firm.
“Don’t be fooled by the partnership facade of a small unlisted local company sharing this tender. It’s just a front to cover up the real deal,” she said.
Kashmir’s land & its prime estate is being auctioned off by NC government to outsiders. People were promised that their land, jobs & identity would be secured. Instead its being parcelled off at the speed of light.
Sangermal City Centre spread over 45 kanals in the heart of… pic.twitter.com/koUEFJgsmc
— Iltija Mufti (@IltijaMufti_) September 3, 2026
“Knowing there already are massive corruption charges against NC, what compulsion did the government have to hand over Srinagar’s prime asset to this sketchy company? Why were they preferred over local Kashmiri builders? Quid pro quo?” Mufti alleged.
A 5.625-acre parcel of land around Srinagar’s stalled Sangarmaal City Centre has fetched ₹421.75 crore in an overnight auction, more than double the government’s initial expectation of ₹200 crore, Times of India reported.
Bidding for the land, located in front of and behind Sangarmaal, began at 11am on 25 August and continued into the early hours of 26 August. The highest bid reached ₹421.75 crore on a full-lease basis.
The property is located in posh Srinagar neighborhood near Lal Chowk, the city centre. It is behind the Kashmir Golf Course and opposite Polo View, Srinagar’s pedestrian-only high-street market lined with cafes and boutique stores. One end of the parcel touches Chunt Khul, a stream running through Srinagar. Dal Lake is about 1km away, and Lal Chowk is nearby as well, the Times of India report said.
Parmesh Construction Company Ltd, a consortium comprising Pahalgam Green Hotels, a J&K-based firm and Bhutani Infra Ltd, emerged as the successful bidder.
An official told the newspaper the auction as an important development for Jammu and Kashmir.
“My heart was racing as the bid was going up and up. It is an important project for J&K and this bid will open investment in the Union Territory after a long time,” the official said on Tuesday.
