Lahore: The Lahore Development Authority has vacated 13 plots reserved for petrol pumps from illegal possession, reported a news source. These plots were leased out to oil companies on nominal rates years ago. The lease contract had expired several years ago, while the companies had stopped making payments since December 2009, causing revenue loss to the authority.
The news report revealed that these companies had further rented out the plots to dealers who carried out their respective business on the premises on nominal rates that were charged in terms of lease for years. These dealers had never been part of any contract signed with the LDA. According to sources, the LDA will auction off these 13 plots according to its predefined laws.
Samra Zulfiqar, a real estate analyst at Zameen.com, is passionate about finding projects that offer buyers the best returns. Her keen insights spotlight the market’s most promising opportunities.
