|LDA approves commercial property auction in LDA city|
Lahore: Lahore Development Authority (LDA) Director General Mr Ahmad Aziz Tarar has approved to auction the commercial properties in LDA city, news sources reported.
The civic authority has decided to auction the commercial property in LDA City to fund the development works stalled in the residential blocks, owing to the financial crunch. The price per marla for the commercial property is fixed at PKR 3.1 million. The winning bidders will get two-year time to pay for the commercial property.
In another recent development, the Director-General (Urban Planning) Rana Tikka Khan gave approval for the electricity supply to the LDA city and the electirfiction work in the residential scheme was announced to commence soon. In addition, the Parks and Horticulture Authority (PHA) will begin work on the green belts in the LDA city, with the project expected to be completed in two years.