On December 3, 2014, the Lahore Development Authority (LDA) auctioned several residential and commercial plots in various areas of the city, generating a sum of Rs 699 million. The auction was held at the LDA Community Centre in New Muslim Town, Lahore and was supervised by LDA Auction Committee members Chief Town Planner Ch Muhammad Akram, Finance Director Zaheer Asghar, and Assistant Management Director Akbar Nakai.
The auction received a massive response from bidders, who helped LDA sell these commercial and residential plots at very impressive rates. The commercial plots in Finance and Trade Centre, Johar Town fetched the highest bids, totalling Rs 2.503 million per marla at a starting bid of Rs 1.3 million per marla. The Finance and Trade Centre, Johar Town is Pakistan’s first planned business hub and the three commercial plots there were auctioned for a total of Rs 649 million.
The public interest in Finance and Trade Centre property should tell you the importance this project holds in Lahore. The most expensive of these three plots was the corner plot (10-G), auctioned for Rs 253 million. We will collect more information about the Finance and Trade Centre and update you about the project’s details and current status soon as well.
In addition to these three plots, 13 other properties were also auctioned, fetching LDA a sum of Rs 56.29 million. Out of these 13 plots, eight were commercial and five were residential plots, all located in Sabzazar, Lahore. The highest bid offered for a commercial plot was for a Block A plot (No. 390-C/10), which was auctioned for Rs 2 million at a starting bid of Rs 1.2 million.
For the residential plots, the highest bid was received for a Sabzazar D Block plot (No. 519) – Rs 0.605 million per marla against the starting bid of Rs. 0.45 million per marla.
Related News
