LAHORE – The Lahore Development Authority (LDA) has amended auction rules for the lease of educational and public utility sites in Lahore.
Successful bidders will made 20 per cent down payment while the remaining amount will be paid in installments in four years. The decision was taken in a meeting held on Friday with LDA Director General Tahir Farood in the chair.
LDA will hold the first auction of the current fiscal year on Wednesday, September 25 for leasing out petrol pumps, marquees, hospital, sports, and parking sites. Petrol pump sites in Allama Iqbal Town and Johar Town, as well as a parking site in Moon Market, Allama Iqbal Town, will be offered for lease.
Marquee and hospital sites in Quaid-e-Azam Town and New Garden Town, and sports sites in LDA Avenue-I and Green Fort Phase-I, will also be available for lease. Moreover, a 20-kanal commercial plot of Finance and Trade Center near Expo Center will be auctioned.
Educational and public utility sites in both LDA and private schemes will also be auctioned. Residential and commercial plots from LDA schemes will be presented as well.
Tahir Farooq said that amendments in auction rules, particularly installment in payments, will help the business community. The proposed plan for the Jinnah Market in Township was also presented. It was briefed that shops will be built on 10-kanal and 8-marla, with a designated parking area as well. Additional DG Housing, Chief Engineer LDA I, Chief Town Planner-I, and directors from the auction, finance, revenue, housing, and town planning attended the meeting.
