LDA auctions 13 properties for Rs 133.24 million


13 properties, including four school sites, eight commercial plots and one residential plot, situated in various housing schemes across the city, were auctioned against a sum of Rs 133.24 million by the Lahore Development Authority on Wednesday.
The open auction of public utility sites as well as residential and commercial plots of different housing schemes was held in the LDA Community Centre in New Muslim Town with LDA Vice Chairman Aamir Asghar Dar in the chair.
The LDA Auction Committee comprising Estate Management, Land Development and Finance directors were also present.
The base price of these plots had been estimated by approved evaluators of the State Bank. Among the four commercial plots in Johar Town, which were auctioned, the maximum bid was offered for a commercial plot measuring 559 square meters, which was auctioned in Rs 1.59 million per marla where as its base price had been fixed as Rs 1.325 million.
A minimum bid of Rs.0.9 million per marla was offered for plot No 305/13, measuring 250.9 square meters, whereas its base price had been fixed at Rs 0.875 million.
The remaining four commercial plots situated in the Packages Quarters Area, Walton Road, were also sold on reasonable prices.
Four school sites situated in various private schemes were also auctioned. The school site in Abid Town, measuring over 2 kanals, was auctioned in Rs 225, 000 per marla where as its base price has been fixed as Rs 210,000 per marla.
Another school site, situated in the Engineering University Society and measuring over 4 kanals was auctioned at the rate of Rs 130,000 per marla as against the base price of Rs 120,000 per marla.
One residential plot in the Sabazar Housing Scheme, was also sold through the open auction at the rate of Rs 254,000 per marla against the reserve price of Rs 250,000.