| LDA collects over Rs3.55bn in single auction
By Our CorrespondentFebruary 21, 2025
The LDA building in Lahore. — Facebook@LahoreDevelopmentAuthorityFile
The LDA building in Lahore. — Facebook@LahoreDevelopmentAuthorityFile
LAHORE:Lahore Development Authority (LDA) has achieved a milestone by collecting record revenue of over Rs3.55 billion in a single public auction held at the Expo Centre, Johar Town here on Thursday.
It is pertinent to mention that LDA had collected revenue of over Rs2 billion in the last auction, as well. During the auction, a total of 42 properties, including residential and commercial plots, educational sites, market sites, dispensary sites, apartment sites, restaurants, canteens, and salons, were auctioned.
A commercial plot located on Jail Road, Gulberg V, was auctioned for Rs1.88 billion. Additionally, an apartment site in Johar Town B-1 fetched Rs436.6 million, while a commercial plot in Jubilee Town was auctioned for Rs162 million.
Other significant auctions included an education site in OPF Scheme A Block sold for Rs179.6 million and a commercial plot in Civic Center, Johar Town, which was auctioned for Rs87.6 million. Lease rights including an education site in Mustafa Town for Rs20.8 million, a restaurant site at LDA Sports Complex Canal West for Rs12.1 million and a rooftop restaurant in Moon Market, Allama Iqbal Town, for Rs7.7 million were also auctioned. Lease rights for a school canteen in Sabzazar, a marquee site in Gujjarpura, and a sports site at Lahore Bridge were also auctioned at competitive prices. Several commercial plots in Johar Town, Jubilee Town, Mustafa Town, Tajpura, and Sabzazar got significant bids, with values ranging from Rs5 million to over 37 million. LDA Auction Committee, along with senior officers supervised the auction process. The auction was attended by Additional DG Housing, Additional DG UP, Director LDA Avenue One, Director Housing, Director Revenue, Director Finance, Director Auction, and Director Education.
Meanwhile, on the instructions of LDA DG Tahir Farooq, LDA teams conducted a full-scale operation against illegal commercial buildings, commercial fee defaulters, and illegal constructions and sealed 45 properties while demolishing illegal plaza structures. LDA teams conducted operations in Gulberg, Faisal Town, Model Town, Allama Iqbal Town, and near the railway station. LDA teams demolished an illegal plaza structure under construction near the railway station. The properties sealed include private schools, restaurants, workshops, food points, shops, offices, and others.
|
|
