LDA Collects Rs 133M Through Property AuctionFriday, June 22, 2012
LDA auctioned 13 properties in Lahore for a total of Rs 133.24 million. The auction was held on 20th June, 2012 at the LDA Community Centre, New Muslim Town. According to details, the auctioned property includes 4 sites for school, one residential plot and 8 commercial plots located in different housing schemes of Lahore.
The auction was supervised by the Aamir Asghar Dar, the vice chairman of LDA, and conducted by Lahore Development Authority's Auction Committee. The committee comprised of the directors of Estate Management, Finance and Land Development.
The evaluators appointed by the State Bank of Pakistan estimated the per marla price of the auctioned plots. News details revealed that 4 of the 8 auctioned commercial plots are located in Johar Town and the rest of 4 are in the area of Packages Quarters, Walton Road. The maximum bid offered for the auctioned plot was Rs 1.59 million for 559 square meters plot located in Block H Johar Town, against its base price of Rs 1.325 million.
The sites for schools were located in Abid Town and Engineering University Society and were auctioned at reasonable per marla rate. The only residential plot, located in Sabzazar Housing Scheme was sold at per marla rate of Rs 254,000.