Pakistan Real Estate Times - Pakistan Property News

Full Version: LDA auctions 16 commercial plots for Rs 126 million
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LAHORE: The Lahore Development Authority (LDA) on Tuesday auctioned as many as 16 out of total of 35 commercial plots located in Johar Town and Sabzazar areas against a sum of Rs 126 million in an ‘open auction’ held here at the authority’s community center.
As many as 46 bidders participated and offered their bids in the open auction after depositing earnest money in the form of pay-orders of requisite amount for the purpose. Per marla base price of these plots had been estimated by the approved evaluators of the State Bank of Pakistan.
During the auction, maximum bid was offered for commercial plot number 402, block D-II, of Johar Town, measuring 15 marlas that was auctioned against a total amount of Rs 23.2 million. Its base price had been fixed as Rs 1.4 million per marla where it fetched a price of Rs 1.55 million per marla. Members of the auction committee of LDA and other officers supervised the auction proceedings.
On the other hand, the LDA staff of the Commercialization and Enforcement Directorates continued operation against unlawful properties and sealed a total of 52 commercial units and demolished illegal constructions in different housing schemes. The buildings in Quaid-e-Azam Town which were sealed due to illegal commercial use of plots included Al-Falah Electronics on plot No 5 block 13-B-1, Sony Centre on plot No. 141 block 13-B-1, Al-Fazal Restaurant on plot No. 148 block 13-B-1, Metro Tiles on plot No. 9 block 2-C-2, Shan Electronic Store on plot No. 13 block 2-C-2, Al-Zaib Mariage Hall on plot No. 29 block 2-C-2, Al-Fatah Sanitary on plot No. 8 block 1-C-1, Haier on plot No. 13 block 1-C-1, Samsung on plot No. 31 block 1-C-1, Farooq Glass on plot No. 36 block 1-C-2, Al-Quresh Marriage Hall, and other buildings.
While the LDA staff demolished illegal structures set up on plot reserved for public utilities besides dismantling boundary wall on mosque site in Khayaban-e-Zahra and encroachments and illegal constructions on mortgaged plots of Nawab Town. The site office established in graveyard of Jafar Town was also demolished and the office of Audit and Accounts Housing Society Phase-I was sealed due to non-execution of transfer and mortgaged deeds
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