LDA to auction three commercial plots on March 29

Around 39 plots of different land use and categories will also be presented for auction

LAHORE: The Lahore Development Authority (LDA) has announced to auction three commercial plots for high-rise buildings. The location is opposite the Expo Centre, along the Southern Bypass Road near Lahore Canal, in the Finance and Trade Centre in Johar Town.

The auction will be held on March 29, (Thursday) at the LDA Community Centre, 239-A New Muslim Town, Lahore. A total of 39 plots of different land use and categories, including three sites for educational institutions and one for a petrol pump, will also be presented for auction on the occasion. This is besides commercial and residential plots in different areas of the city.

The authority has constituted a high-level auction committee, comprising Director Finance, Director Estate Management (I), Director Estate Management (Quaid-e-Azam Town), Director Land Development (I) and (II), Director Town Planning and concerned scheme directors, for supervising and ensuring maximum transparency in the bidding process. The initial bidding prices have already been fixed by the price assessment committee of the LDA in the light of property evaluators' recommendations duly approved by the Pakistan Bankers Association.

The authority has offered commercial plots situated in the Civic Centres of Sabazazar, Jubilee Town, Johar Town and New Muslim Town for auction.

The governing body of LDA, in its recently held meeting, approved changes in the scheme plan of Jubilee Town in order to rejuvenate the revenue potential of Civic Centre of the scheme in view of a proposed new structure plan road, to be constructed parallel to the Lahore Canal Road, passing through Jubilee Town.

Published in The Express Tribune, March 26^th, 2018.