Ranchi: The popular four-month Potala market run by Tibetan refugees will be back in the capital city on Sunday but this time it will have a new address.

This year, 58 stalls will be set up by 40 Tibetan families who will come to the capital from settlements in Odisha, Karnataka, Himachal Pradesh and Uttarakhand to sell their woollen garments on the premise of Mahendra Prasad Women's College on Circular Road at Lalpur.

The mart will be formally inaugurated by Jharkhand Assembly Speaker Dinesh Oraon at 11am on Sunday.

A prayer meeting will be held for the good health of Tibetan spiritual guru Dalai Lama and world peace. Mukund Nayak, a Padma Shri recipient and well-known folk artiste from Jharkhand, is also scheduled to perform.

The new place is barely 1km away from Ranchi Town Hall near Kutchery Chowk that had been hosting the woollen mart for 47 years.

However, the town hall has been demolished for the construction of Rabindra Bhavan, a modern cultural centre.

"From the last 47 years, we have been operating the Potala market in Ranchi and the people here have been very nice to us. From the last 18 years, the town hall had been our address. Now we have to shift the mart following the demolition of the hall," said Tenzin Lundup, vice-president of the Tibetan Potala Market Association.

The new venue is spacious with a huge parking space for visitors that the town hall premises lacked.

Initially, the mart used to be operated from near Sadar Hospital before it was shifted to a place near Ranchi University. From there, the venue was shifted to Jaipal Singh Stadium and then the town hall.

In Ranchi, Potala market has been serving as a one-stop shopping centre for woollens ranging from sweaters, jackets, shawls, gloves, scarves and coats at affordable prices.

"We buy winter clothes from manufacturers in Delhi and Ludhiana," Lundup said.