LDA auctions five plots

[Salman]

LAHORE: A total of five plots of Mohlanwal Housing Scheme were auctioned by Lahore Development Authority against a sum of Rs.33.8 million on Tuesday.



Maximum bid was offered for plot No. 9, situated in C block of Mohlanwal Housing Scheme, which was auctioned in Rs. 27.8 million. Its bid starting price had been fixed as Rs. 0.7 million per marla where as it was auctioned in Rs. 1.4 million per marla. Open auction of plots was held at B-block park of Mohlanwal Housing Scheme. A total of 24 bidders participated in the bidding by depositing earnest money for their desired plots. Sever 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 State Bank of Pakistan. Members of the auction committee of LDA including Director Finance Zaheer Asghar Raana, Director Estate Management Usman Ghani and Director Land Development Muhammad Asad Ameer as well as other officers supervised the auction proceedings.