Nine plots auctioned

LAHORE: A total of 9 plots, including seven commercial and a residential plot as well as an education site, were auctioned by the Lahore Development Authority against a sum of Rs 234.57 million on Wednesday.

Open auction of commercial plots of Johar Town, Sabazazar, Gujjar Pura, residential plots of Jubilee Town and education sites of different LDA and Private housing schemes was held at LDA Community Centre, 239-A, New Muslim Town which was participated by 22 bidders who had deposited earnest money in the form of pay orders of requisite amount for this purpose.

Severe competition was observed at this occasion as the competitors enthusiastically offered their bids. Per marla base price of these plots had been estimated by the approved Evaluators of the Bankers Association of Pakistan.

Maximum bid was offered for commercial plot No 393, block D-II of Johar Town Scheme, measuring 14.93 marla, which was auctioned against a total amount of Rs 31.65 million.

It’s base price had been fixed as Rs 1.6 million per marla where as it fetched a price of Rs 2.12 million per marla.

One education site, situated at Block-A of Venus Housing scheme, was auctioned at this occasion at a sum of Rs 22,555,740. Bid starting price for this site, measuring 1 kanal 6 marla, was Rs 600,000 where as it fetched a price of Rs 615,000 per marla.

Members of the auction committee of LDA including Director Town Planning Syed Nadeem Akhter Zaidi, Directors Estate Management Mohammad Numan Khan, Abdus Sattar Khan, Usman Ghani, Shahjbaz Ghurki, Director Land Development Mohammad Asad Ameer and Director Finance Ali Shahzad as well as other officers supervised the auction proceedings.