A total of 20 plots, including 15 commercial and five residential, were auctioned by Lahore Development Authority (LDA) against a sum of Rs 301.4 million here on Thursday. Open auction of commercial and residential plots of LDA Avenue One, Johar Town, Sabazazar, Model Town (Extension Scheme), Mustafa Town and Fruit and Vegetable Market was held at LDA Community Centre, which was participated by 38 bidders who had deposited earnest money in the form of pay orders of requisite amount for this purpose.
Per marla price of these plots had been estimated by the approved evaluator of the State Bank of Pakistan. Maximum bid was offered for corner plot, measuring 13 marlas and 137 square feet, situated in block "A" of LDA Avenue-I, Main Raiwind Road, which was auctioned for Rs. 55.252 million.
Its bid starting price was fixed at Rs 1.65 million per kanal whereas it was auctioned for Rs 4.06 million per kanal. Members of the auction committee of LDA, including Director Finance Zaheer Asghar Raana, Directors Estate Management Akbar Nakai, Usman Ghani and Nadeem Abbas Bhangu, Directors Land Development Imran Raza Abbasi and Waseem Abbas as well as other officers, supervised the auction proceedings.