Lahore Development Authority (LDA) has decided to receive price of shops of Parking Plaza at Moon Market, Allama Iqbal Town, in eight equal quarterly instalments, after their sale through open auction.
For encouraging trade and business activity in the city, LDA has further decided to handover possession of these shops after receiving 40 per cent payment only. The highest bidder will be allowed to deposit 20 per cent of the price of shop within 20 days after the auction.
The first instalment of the price of shop could be deposited within 30 days of the approval of bid by the competent authority. An amount of Rs. 0.5 million only, refundable, was required to be deposited as earnest money for participating in the auction.
A total of 67 shops have been constructed in this 10 storey parking plaza where two floors have been exclusively reserved for shopping purpose. It can accommodate 400 vehicles and 500 bikes at a time. A rooftop restaurant will also be constructed which will offer a bird’s eye view of the surroundings.