LDA auctions rooftop restaurants, plots

[Salman]

LAHORE:
The Lahore Development Authority has auctioned tenancy rights of the rooftop restaurant of Park N Shop Plaza, Allama Iqbal Town, for Rs11.7 million a year. The restaurant has been leased for 10 years. Rent for the first six months has been waived. Twelve plots were also auctioned for Rs34 million. The maximum bid of Rs3.5 million was offered for commercial plot 494-A, Q Block of Model Town (Extension) measuring more than two marlas. Its base price had been fixed at Rs1.1 million a marla. Twenty-four commercial plots in Johar Town, Model Town, Packages Area Quarters, Sabazazar and Gujjar Pura were also auctioned.
Published in The Express Tribune, November 14th, 2014.