LDA auctions 22 commercial plots

LAHORE

A total of 22 commercial plots were auctioned by Lahore Development Authority against a sum of Rs276 million here on Tuesday.

Open auction of commercial plots of Johar Town, Sabzazar, Jubilee Town, Gujjarpura, Mohlanwal and Packages Quarters Walton was held at LDA Community Centre, which was participated by record number of 73 bidders who had deposited earnest money in the form of pay orders of requisite amount for this purpose. Tough competition was observed on the occasion as the competitors enthusiastically offered their bids. Per marla base price of these plots had been estimated by the approved evaluators. Maximum bid was offered for commercial plot No 798-B, Block G-IV of MA Johar Town, measuring 60 square meters, which was auctioned against a total amount of Rs11.5 million. Its bid starting price had been fixed as Rs5 million per marla whereas it fetched a price of Rs4.15 million per marla. Members of the auction committee of LDA, including Director Finance Farqaleet Meer, Directors Estate Management Abdul Sattar Khan, Usman Ghani, Muhammad Nauman Khan and Khawaja Touqueer Hassan, Directors Land Development Asim Saleem, and Muazzam Rasheed, Director Town Planning Sayed Nadeem Akhter Zaidi as well as other officers supervised the auction proceedings.