Letters of displeasure to DCOs spending less than 5pc funds

[Salman]

Letters of displeasure to DCOs spending less than 5pc funds

LAHORE: The Lahore Development Authority on Thursday auctioned eight out of the 26 mortgaged residential plots of Venus Housing Scheme against a sum of Rs. 22.4 million.

Open auction of plots was held in LDA Community Centre, 239-A, NewMuslimTown. Auction committee of LDA comprising of Director Finance, Director Estate Management and Director of Land Development LDA conducted the auction which was participated by a large number of people.

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 plot No 114 block B, measuring one Kanal and 161 square feet.

It was auctioned against Rs.One lakh and 58 thousand per marla where as its base price had been evaluated as Rs. one lakh and 15 thousand per marla.

Minimum bid was offered for plot No. 17 block B, measuring one kanal, 12 marlas and 81 square feet. It was auctioned against Rs. one lakh and eight thousand per marla where as its base price had been evaluated as Rs. One lak and five thousand per marla. Other plots were also sold out at the price higher than the base price. Auction of 18 remaining plots had to be postponed because no bid was offered for those.

Venus Housing Scheme is an LDA approved scheme which is situated on main Ferozpur Road, only two kilometres away from GeneralHospital.