The Lahore Development Authority’s (LDA) legal advisor confirmed on Sunday that no stay order had been granted against the auction of shops in the Liberty Park and Ride Plaza. He said rumours being circulated in this regard were totally unfounded.
LDA’s legal advisor, Waqar A Sheikh, said that arrangements had been finalised and the auction of shops would be held on April 6 according to the revised schedule.
He said that certain elements were trying to mislead the public. He said these elements were trying to deprive the citizens of a parking facility of international standard.
As many as 26 shops, he added, and the space for a restaurant on the first floor would be sold through an open auction.
Sheikh recalled that 13 ground floor shops in the plaza had already been sold for Rs211.45 million against the reserve price of Rs185.3 million in an open auction held on January 26.
People who are interested in bidding for a shop have to deposit the reserve price of Rs1 million for each shop and Rs3.5 million for the restaurant, either in cash or through a pay order in the LDA’s name at any branch of the Bank of Punjab or at the bank’s booth set up on site, he added.
Sheikh further added that the auction will begin at 10 am by an LDA committee in the presence of the media to make the process transparent.
Published in The Express Tribune, April 4th, 2011.
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