LDA Trade Centre’s auction today

[Salman]

LAHORE – The governing body of the Lahore Development Authority (LDA) has permitted other uses of the hotel site in the Finance and Trade Centre for setting up of an inter-city bus terminal, superstore, shopping centre and provision of other allied facilities.

The LDA has also decided to relax building bye laws for encouraging construction of high-rise buildings in this new hub of business in the provincial capital. Comparing to other areas of the City, the maximum height of buildings to be constructed in the Trade Centre has been increased. Ground floor coverage has also been enlarged and a building could now be constructed by covering 60 per cent area of a plot.

In this regard open auction of the hotel site, measuring 118 kanals, in the Trade Centre will be held today (Monday) at 10:00am at the LDA Community Centre, Ayubia Market, New Muslim Town, Lahore. Base price for auction of this plot has been fixed as Rs 14 million per kanal by the LDA.

The Trade Centre is being established by the LDA on 1,123 kanals, situated near Expo Centre, in Johar Town. The LDA has allocated a sum of Rs550 million for construction and improvement of infrastructure of the area.

Of this land, a superstore would be built on 90 kanals, a hotel on 118 kanals, a bank square on 69 kanals, a health club on 27 kanals, a hospital on 25 kanals, a mosque on 5 kanals, recreational area on 75 kanals, and parking and mini golf club on 32 kanals.

About 40 kanals have been reserved for multi-storey apartments, 8 kanals for the service area and 388 kanals for roads. The commercial area of the Centre would be on 111 kanals and a corporate office and the LDA tower on 101 kanals.