The Lahore Development Authority (LDA) auctioned off 16 of 35 available commercial plots and a shop for Rs109.5 million on Thursday.
The auction of commercial plots at Johar Town, Sabzazar, Mustafa Town, Gujjarpura and the Model Town (Extension) Scheme was held at the LDA Community Centre in New Muslim Town.
The highest price, Rs4.8 million, was fetched by the three-marla Plot No 189-G in P Block, Model Town (Extension) Scheme. Its base price had been set at Rs0.8 million, but it sold for Rs1.6 million per marla. Shop No-1 at G Block, Sabzazar Scheme, measuring 191 square feet, was auctioned for Rs2.7 million. Its base price has been set as Rs2.3 million.
A total of 36 bidders, who had been required to deposit “earnest money” in the form of pay orders, participated in the auction. The per marla base price of the plots had been estimated by evaluators approved by the State Bank of Pakistan.
Published in The Express Tribune, October 11th, 2013.
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ