Contradicting to the rumours that the Evacuee Trust Property Board (ETPB) Lahore sold the prime land of Dar-ul-Hujjaj on 'throw away prices', ETPB Chairman Siddique-ul-Farooq made it clear that the land has been given on a 30-year lease. The training camp for pilgrims scheduled in July at this place will be the last programme this year and later will be shifted to Raiwind, he said while addressing a press conference here on Saturday.
"After the 'transparent bidding' process, the land has been allocated to a party against a security deposit of Rs 190.40 millions," said the chairman. At present lease amount comes to Rs 5 million per annum but after two years collective income, including rent from a constructed building and return on investment of guarantee money, will be around Rs 50 million, he claimed.
He said it was pertinent to clarify that the land will be in ownership of the ETPB after two years. Earlier, the land was in use of the ministry of the religious affairs and they took its possession after expiration of their rent-agreement on June 30, 2016, he added.
"We are, although, offering an alternative land to the ministry on lease of 30-year and through this they would be able to continue the process of pilgrims' training as well as to earn a handsome money in shape of the rents," the chairman said. The alternative land will be comprised on eight canal of land and it is near to Motorway, Thokar Niaz Baig.
The chairman claimed that there is a fundamental difference between the auction of the Evacuee Trust Property Board as compared to Pakistan Railways (PR), Capital Development Authority (CDA) and Cantonment Board. Except EETPB department, he said all the departments permit lease of 99-year and instead of 30-year. He said they do not just auction a land, but they also receive monthly rents from such programmes, he claimed. He said that the land is consisting of 19.11 kanal.
He claimed that the DC rate of this land was Rs 2.52 million for a kanal while the FBR table rate was Rs 1.796 million and the total of this was Rs 680 million. He however said that the estimated market cost of this land was Rs 200,000 per marla which means per kanal price was Rs 40 million while the total amount was decided at Rs 780.2 million.
"According to the law, we have to receive at least ten percent security money of the total amount that was Rs 70.82 million. But under the open auction, we had received Rs 190.40 million as a security deposit that was the twenty percent of the total amount," claimed the chairman.
Before the completion of construction work, he said the leasing party has to pay a sum of Rs 500,000 as a monthly rent and Rs 6 million annually. When asked about the nature of business, he said the proposals are yet to be received and they have the discretionary powers whether to refuse or accept it. He said only this year they will arrange 'Haji camp' here and the next year it will be moved to said place.
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