Lahore: The Lahore Development Authority (LDA) has announced its decision to auction selected residential and commercial plots in various locations of the city — with these properties set to be sold on a ‘as is, where is’ basis, according to the authority’s official website.
The auction will include residential and commercial plots located in Sabzazar, Gujjarpura, Jubilee Town, LDA Avenue-I and Tajpura, along with a health site in Khyaban-e-Khairuddin – Johar Town. The event is scheduled for October 6, and the ceremony will be held at the LDA Community Center in New Muslim Town at 9 am.
Moreover, as an added incentive, the LDA has communicated that it has amended its height limits and construction bylaws in order to promote vertical structures in the city. The authority further notified that investors would have to pay one-third of the plot price within seven days of the LDA auction 2020 — with this payment to be made via cash or pay order. The remaining two-third amount for the plots will have to be submitted within a month after the original bid is approved. An additional grace period of 30 days will also be offered for the convenience of the investors.
For more information and details regarding the said initiative, interested parties can reach out to the LDA Sales & Allotment deputy director office or visit the authority’s official website.
Hazafa reveres the art of writing and has been turned into a property enthusiast by profession. Her daily survival kit includes; tea, coffee, keyboard and paperbacks.
