LDA has announced that the auction for shops at Liberty and Ride Plaza will be held at the LDA Community Centre, New Muslim Town on Tuesday 15th May. These shops include 20 first floor, 15 lower-ground floor and 19 ground floor shops plus a first floor and a rooftop restaurant. LDA has asked the interested parties to deposit a surety of Rs 67,50,000 for rooftop restaurant, Rs 35,00,000 for first floor restaurant and Rs. 10,00,000 for each shop.
The surety amount submitted before the day of the auction can be deposited in the form of cash/pay-order at the marketing office of Park & Ride Plaza, Liberty. In case, a party chooses to submit the amount on the auction day, they can deposit the set amount at the booth of National Bank of Pakistan installed at the LDA Community Centre, New Muslim Town. This amount has to be deposited before commencement of the auction. The unsuccessful bidders will get a refund of their amount on the next day of the auction.
A competent authority will be deployed for the approval of the winning bid and will take the decision regarding the acceptance or rejection of the offered bids. The successful bidder would be required to deposit 1/3rd of the total amount, including the surety money, on the auction day or within 7 days of the auction. The remaining 2/3rd amount has to paid within 30 days after the bid is approved. This 30 day limit includes public holidays. In case a bidder submits an application requesting more time within the first week followed by the first 30 day limit, the authority can give him a further extension of 30 days.
The auction ceremony will commence at 10 am. To ensure transparency, several media personnel will also be present at the auction.
