He.
PU authorities have just recently issued a noticr regarding increased seats. But the notice is only in regard to UILS, Chandigarh and not the regional centres. Earlier there were 120 seats for BA LLB In Chandigarh and 120 seats for BCOM LLB in Chandigarh, which with the approval of the Bar council of India have been increased to 180 seats for each course. So the seats in the regional centres remain the same. 60 seats in Ludhiana and 60 in Hoshiarpur regional centre for BA LLB.

Considering this with a rank of 548 chances in Ludhiana are 50-50 in the first counselling itself. Otherwise chances in Hoshiarpur will be fair. You can try for Ludhiana in the subsequentcounsellings though chances are a little less. Upto 540 ranks were called for counselling in chd but it doesn't mean all of them got admission there.
Best of luck!