Prime locations: LDA to auction 58 plots tomorrow

Authority’s decision on acceptance or rejection of bids will be final.

LAHORE:

The Lahore Development Authority will try to sell 58 plots in an open auction on Wednesday (April 3) at 10am at the LDA Community Centre, New Muslim Town.

These plots include 38 commercial plots in Johar Town, Model Town Extension Scheme, Mustafa Town and Gujjarpura Scheme, three residential plots at F-One Block, Johar Town, and 17 residential plots at Venus Housing Scheme, Ferozepur Road.

The parties interested in participating in the auction have to deposit the earnest money (refundable) for each plot in cash, bank draft or pay order in favour of the LDA director general before the commencement of the auction at an on-the-floor booth of the National Bank of Pakistan. The highest bidder shall have to deposit a third of the bid after the auction is closed or within seven days of the auction, failing which the earnest money shall be forfeited.

The balance cost is to be paid within 30 days of his bid’s approval by the competent authority.

However, the competent authority may allow a 30 days’ extension.

The competent authority’s decision regarding acceptance or rejection of the offered bids would be final.

Published in The Express Tribune, April 2^nd, 2013.