A total of 22 commercial plots, situated in the various housing schemes in the provincial metropolis, were auctioned by Lahore Development Authority against a sum of Rs 276 million here on Tuesday. According to details Open auction of commercial plots of Johar Town, Sabazazar, Jubilee Town, Gujjar Pura, Mohlanwal and Packages Quarters Walton was held at LDA Community Centre, 239-A, New Muslim Town which was participated by record number of 73 bidders who had deposited earnest money in the form of pay orders of requisite amount for this purpose.
Severe competition was observed at this occasion as the competitors enthusiastically offered their bids. Per Marla base price of these plots had been estimated by the approved Evaluators of the Bankers Association of Pakistan. Maximum bid was offered for commercial plot No 798-B, block G-IV of MA Johar Town, measuring 60 square meters, which was auctioned against a total amount of Rs 11.5 million. Its starting bid price had been fixed as Rs 4 million per Marla where as it fetched a price of Rs Forty lacs and 15 thousand per Marla.
Members of the auction committee of LDA including Director Finance Farqaleet Meer, Directors Estate Management Abdul Sattar Khan, Usman Ghani, Muhammad Nauman Khan and Khawaja Touqueer Hassan, Directors Land Development Asim Saleem, and Muzam Rasheed, Director Town Planning Sayed Nadeem Akhter Zaidi as well as other officers supervised the auction proceedings.