Lala Raghu Mal, an eminent figure of the older quarters, was the proprietor of Dehradun Mussoorie Electric Tramway Company, involved in the construction of networks between Dehradun and Rajpur. Raghu Mal’s business had spread afar to multiple cities of India, Calcutta, Dehradun, Mussoorie and Delhi, bringing him with avast exposure and knowledge of advancements of the world through these channels. Perhaps understanding and working with modern materials and ideas, he played a crucial role in revolutionising the concept of a mandi as a commercial establishment with dedicated space to each vendor, at Raghu Ganj. The complex housed many other businesses and shops, which he gifted to Lala Hansraj Gupta, ex-Mayor of Delhi, upon his marriage to Raghumal’s only daughter, Angira Devi. Apart from Raghu Ganj, Raghu Mal owned many properties in Old and New Delhi alike. Devoted to Arya Samaj, Raghumal Arya Girls School, at Raja Bazar Area, is also established in his memory. Raghumal died on 5th September, 1926, leaving members of the Gupta family and later of the Angeri Devi Trust as custodians of his possessions.
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References : 'Leaders recall Jan Sangh birth at school', The Indian Express, 2009;
'The tram that never took off in Doon', The Times of India, 2018;
Legal Documents on Smt. Angira Devi and Angira Devi Trust (Indian Kanoon)