-APS Noorpuri
Mohali, March 15, 2026: The foundation stone of the Investment Building of Life Insurance Corporation of India (LIC) at Sector 49, Mohali, under the Chandigarh Divisional Office, was formally laid by Ratnakar Patnaik, Managing Director, LIC of India.
The ceremony was attended by several senior officials of the corporation, including J.P.S. Bajaj, Zonal Manager (North Zone); P.K.J. Dungdung, Executive Director (Engineering); Vikram Singh Yadav, Chief Engineer (North Zone); Yangjor, Regional Manager (Marketing), North Zone; and Sonam Chhewang, Senior Divisional Manager, Chandigarh.
Speaking to reporters on the occasion, Patnaik said that real estate has emerged as a strong and reliable investment option in the current economic environment, which is why LIC has been developing ‘investment buildings’ across various cities in the country.
He explained that LIC acquires land parcels and, after obtaining the required approvals, constructs modern commercial buildings that are leased out as office spaces. The rental income generated from such properties contributes to strengthening LIC’s investment portfolio and helps in providing better returns to policyholders.
“Real estate investments currently offer better prospects compared to several other asset classes. That is why LIC is focusing on creating investment buildings in different locations. We want to provide enhanced returns to our policy holders,” Patnaik said.
The upcoming Investment Building in Mohali, near Chandigarh, is being developed by LIC’s engineering department and is envisioned as a modern and impressive commercial complex. The project is expected to be completed in approximately three years.
It is envisaged that the project will bring substantial economic activity and development to Punjab.
Meanwhile, Patnaik further highlighted that LIC owns properties across India in major metropolitan cities as well as Tier-2 cities, adding that nearly 60 percent of the corporation’s total rental income currently comes from properties located in Delhi.
The allotment of space will be carried out through a transparent and competitive bidding process to ensure quality tenants and optimal rental returns.
“Our objective is to ensure a transparent system that brings reliable tenants and generates steady rental income, which ultimately benefits our policyholders,” he added.
