The LDA will decide whether to accept or reject successful bids within 60 days of the auction. PHOTO: APP/ FILE
The Lahore Development Authority will hold an auction of 21 commercial plots in prime locations at Jail Road (Shadman), Township and Gujjarpura Schemes at 10 am on May 22 at the LDA Community Centre in New Muslim Town.
Those interested in participating in the auction must make a refundable deposit for each plot in favour of the LDA director general before the start of the auction at the National Bank of Pakistan booth at the Community Centre.
The successful bidder must deposit one-third of the cost of the plot within seven days of the close of the auction, or lose their deposit. They must deposit two-thirds of the cost within 30 days of the approval of their bid. The LDA may approve a 30-day extension in this, provided the successful bidder applies for the relaxation within seven days of the 30-day deadline and provides a plausible justification.
The auction will be on an ‘as is, where is’ basis. The LDA will decide whether to accept or reject successful bids within 60 days of the auction. Other terms and conditions will be read out at the time of the auction.
Further information is available from the office of the LDA deputy director (sales and allotment), 467-D-II, Main Boulevard, Johar Town and the LDA website (www.lda.gop.pk).
Published in The Express Tribune, May 21st, 2013.
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