LDA auctions 13 properties for Rs133m

LAHORE – A total of 13 properties, including four school sites, eight commercial plots and one residential plot, situated in various housing schemes, were auctioned against a sum of Rs133.24 million by the Lahore Development Authority (LDA) on Wednesday.

Open auction of public utility sites, as well as residential and commercial plots of different housing schemes, was held at the LDA Community Centre in New Muslim Town.

LDA Vice Chairman Aamir Asghar Dar supervised the auction, which was conducted by the Authority’s Auction Committee comprising directors of Estate Management, Land Development and Finance. Per marla base price of these plots had been estimated by the approved evaluators of the State Bank of Pakistan.

Among the four commercial plots in Johar Town, which were auctioned on this occasion, the maximum bid was offered for commercial plot No 305/41, Block H-3, measuring 559 square metres, which was auctioned for Rs1.59 million per marla whereas its base  price had been fixed at Rs1.325 million. The minimum bid of Rs0.9 million per marla was offered for plot No 305/13, Block H, measuring 250.9 square metres, whereas its base price had been fixed at Rs0.875 million.

The remaining four commercial plots situated in the Packages Quarters area, Walton Road, were also sold on reasonable prices.

Four school sites situated in various private schemes were also auctioned ON this occasion. School site of Abid Town, measuring 2 kanals, 12 marlas and 53 square feet, was auctioned for Rs225,000 per marla whereas its base price had been fixed at Rs2,10,000 per marla. Another school site, situated in Engineering University Society and measuring 4 kanals, 4 marlas and 171 square feet, was auctioned for Rs130,000 per marla against the base price of Rs120,000 per marla.

One residential plot in Sabazar Housing Scheme, bearing No 711-D, was also sold through open auction on this occasion at the rate of Rs254,000 per marla against the reserve price of Rs250,000.

Source: http://www.nation.com.pk/pakistan-news-newspaper-daily-english-online/lahore/21-Jun-2012/lda-auctions-13-properties-for-rs133m