LDA Auctioned Commercial For 26.5 million Rs.

[Salman]

LDA auction: A total of seven commercial plots were auctioned by the Lahore Development Authority against a sum of Rs. 26.5 million on Monday.

Open auction of these commercial plots was held at the LDA Community Centre, 239-A, New Muslim Town which was participated by 28 bidders who had deposited earnest money in the form of the pay orders of requisite amount for this purpose.

Tough competition was observed as the competitors eagerly 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 commercial plot No 2181-J (corner), Block-A of Faisal Town, measuring 1.168 Marla, which was auctioned against a total amount of Rs.4.69 million. Its base price had been fixed as Rs. 1.6 million per Marla whereas it fetched a price of Rs.2.33 million per Marla.

Members of the Auction Committee of the LDA, including Director Finance Zaheer Asghar Raana, Directors Estate Management Akbar Nakai and Moazzam Rasheed, Director Land Development Imran Raza Abbasi as well as other officers supervised the auction proceedings.