LDA auctions 28 properties against Rs 354.153 million

[Salman]

A total of 28 properties, including 25 commercial plots and 3 residential plots, were auctioned against a sum of Rs 354.153 million by the Lahore Development Authority (LDA) on Wednesday. Open auction of 55 residential and commercial plots of different housing schemes was held in LDA Community Centre, which was participated by 113 bidders who had deposited earnest money for this purpose.

Per marla base price of these plots had been estimated by the approved Evaluators of the State Bank of Pakistan. Among the 25 commercial plots of Johar Town, Mustafa Town and Model Town Extension Scheme, which were auctioned at this occasion, maximum bid was offered for commercial plot in Johar Town, measuring 250.90 square meters, which was auctioned against an amount of Rs 30.912 million. Its base price was fixed as Rs 1.3 million per marla where as it fetched a price of Rs 2.575 million per marla.

A residential plot in Johar Town was sold against a sum of Rs 10.12 million. Two residential plots of Venus Housing Scheme were also auctioned against a total amount of Rs 10.120 million. Members of the auction committee of LDA, including Directors Estate Management Muhammad Numan Khan and Rana Usman Anver, Director Finance Zaheer Asghar Raana and Directors Land Development Imran Raza Abbasi and Liaqat Randhawa, supervised the auction proceedings.