Lahore: The Lahore Central Business District Development Authority (LCBDDA) has announced an open auction of 5 commercial plots located in Gulberg’s Main Boulevard and Ferozepur Road on September 7, according to an advert published in the national dailies on August 22.
Read: LCBDDA gets Walton Airport land on 99yr lease
The said plots are aimed to be used for the construction of high-rise signature towers, mix-use complexes, financial towers, hotels or business centres. The authorities have placed 5 plots of varying sizes and prices advertised as Prime 01 (18 Kanal), Prime 02 (11 Kanal), Prime 03 (10 Kanal), Prime 04 (13 Kanal), and Prime 05 (10 Kanal), on auction.
According to the advertisement, the project will be one of its kind in the centre of the city under the Central Business District (CBD) authority. A list of the salient features of the project are:
- 5% discount on full payment of plot within 45 days of auction
- Option of 25% bid money with earnest money submission within 45 days of auction
- Remaining payment of 75% within 1 year in 3 quarterly payments
- Plots with the highest Floor Area Ratio (FAR)
- One -window operation to facilitate bidders at every stage of the bidding process
- The land is allotted on a “Title Ownership Basis”
- Country’s first LEED-certified Project
- Favourable bylaws for high rise construction
Read: Plan underway to construct apartment buildings in Wahdat Colony
Any prospective buyers and interested parties can also contact the authorities by official email info@lcbda.punjab.gov.pk or by visiting the LCBDDA office at 51-N Gurumangat Road, Gulberg II, Lahore.
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