CDA bans plots’ registries in zones 1, 2, 4, National Park

[Salman]

LAHORE
A total of 11 plots, including eight commercial and three commercial, were auctioned by the Lahore Development Authority against a sum of Rs 54 million on Monday.
Open auction of 16 commercial plots of Johar Town, Jubilee Town, Sabazazar and Taj Pura, seven residential plots of Sabazazar and Jubilee Town as well as two plots of Fruit Market Allama Iqbal Town was held at LDA Community Centre, 239-A, New Muslim Town which was participated by 46 bidders who had deposited earnest money in the form of pay orders of requisite amount for this purpose.
Tough 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.
Maximum bid was offered for corner commercial plot No 165, block J-III of Johar Town, measuring 77 square meters or 3.68 marla, which was auctioned against a total amount of Rs.7.82 million.
Its base price had been fixed as Rs. 1.21 million per marla where as it fetched a price of Rs.2.15 million per marla.
Members of the auction committee of LDA including Director Finance Zaheer Asghar Raana, Directors Estate Management Akbar Nakai, Usman Ghani and Moazzam Rasheed, Director Land Development Imran Raza Abbasi and other officers supervised the auction proceedings.