LDA successfully auctions 11 plots

[Salman]

LDA successfully auctions 11 plots

LAHORE

Eleven plots, including 10 commercial and one residential, were auctioned by the Lahore Development Authority against a sum of Rs 47 million on Monday.
Open auction of 22 commercial plots of Johar Town, Sabazazar, Jubilee Town and Gujjarpura as well as seven residential plots of Sabazazar and Jubilee Town was held at the LDA Community Centre which was participated in by 28 bidders who had deposited earnest money in the form of pay orders of requisite amounts for the purpose.
A tough competition was observed on the occasion as the competitors enthusiastically offered their bids. Per marla base price of these plots had been estimated by approved evaluators of the State Bank of Pakistan.
Maximum bid was offered for corner commercial plot No 402 block R-2 of Johar Town, measuring 50 square metres, which was auctioned against a total amount of Rs 4.12 million. Its base price had been fixed at Rs 1.32 million per marla where as it fetched a price of Rs 1.72 million per marla.
Members of the auction committee of the LDA including Finance Director Zaheer Asghar Raana, Estate Management Directors Akbar Nakai, Usman Ghani and Nadeem Abbas Bhangu and others supervised the auction proceedings.