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LDA to auction three plots for highrises

March 26, 2018

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LAHORE: The Lahore Development Authority (LDA) will auction three plots for highrise buildings, situated opposite the Lahore Expo Centre along Southern Bypass in the Finance and Trade Center, Johar Town.

The auction will be held on March 29 (Thursday) at the LDA Community Centre, in New Muslim Town. A total of 39 plots of different land use and categories, including three sites for educational institutions and one for setting up petrol pump, would also be presented for auction on this occasion besides commercial and residential plots situated in different posh localities of the city.

For ensuring transparency, the LDA has constituted a high-level auction committee for supervising the bidding. The bid starting prices of the plots have been fixed by the price assessment committee of the LDA in the light of recommendations of property evaluators approved by the Pakistan Bankers Association.

The authority has also offered for auction commercial plots situated in civic centres of Sabazazar, Jubilee Town, Johar Town and New Muslim Town.

The governing body of LDA in its recent meeting had approved changes in the scheme plan of Jubilee Town in order to enhance revenue potential of civic centre of the scheme in view of a proposed road, to be constructed parallel to the Lahore Canal Road, passing through Jubilee Town.

The petrol pump site to be auctioned at this occasion was situated in block D-II of Johar Town while the three education sites were located in Mustafa Town, Punjab University Employees Housing Scheme Phase II along Abdus Sattar Edhi Road and I.E.P Engineers Town along Defence Road.

Published in Dawn, March 26th, 2018