LDA gathers Rs51.1m in plots’ auction

[Salman]

LDA gathers Rs51.1m in plots’ auction

LAHORE: The Lahore Development Authority auctioned on Monday various residential and commercial plots in various housing colonies for Rs51.1 million through an open auction at the LDA Community Centre (Ayubia Market), Muslim Town.

The LDA’s auction committee auctioned a commercial plot No.201-D (R-Bock, Model Town) measuring over two marla for Rs1.580 million per marla against a base/reserved price of Rs700,000, says a press release.

It also auctioned another commercial plot No.2 (Sector-5 D-1, Township) for Rs267,000 per marla against a reserved price of Rs200,000 per marla. The other auctioned plots include plot No-1124-G (Sabzazar Scheme) worth Rs387,000 per marla, plot measuring seven kanal and eight marla allocated for school (Naz Town) worth Rs85,000 per marla and plot measuring one kanal and 10 marla allocated for school (Ghee Corporation Society) for Rs204,000 per marla.

The release said the committee cancelled the auction of dozens of other plots after it failed to receive reasonable price offers.