LAHORE - A total of 20 plots, including 15 commercial and five residential, were auctioned by Lahore Development Authority against a sum of Rs 301.4 million on Thursday.

Open auction of commercial and residential plots of LDA Avenue One, Johar Town, Sabazazar, Model Town (Extension Scheme), Mustafa Town and Fruit and Vegetable Market was  held at LDA Community Centre,239-A, New Muslim Town which was participated by 38 bidders who had deposited earnest money in the form of pay orders of requisite amount for this purpose.

Sever competition was observed at this occasion as the competitors enthusiastically offered their bids. Per marla base price of these plots had been estimated by the approved Evaluators of the State Bank of Pakistan.

Maximum bid was offered for corner plot No 118, measuring 13 marlas 137 sq feet, situated in A block of LDA Avenue-I, Main Raiwind Road which was auctioned in Rs. 55.252 million.

Its bid starting price had been fixed as Rs 1.65 million per kanal where as it was auctioned in Rs. 4.06 million per kanal.

Members of the auction committee of LDA including Director Finance Zaheer Asghar Rana, Directors Estate Management Akbar Nakai, Usman Ghani and Nadeem Abbas Bhangu, Directors Land Development Imran Raza Abbasi and Waseem Abbas as well as other officers supervised the auction proceedings.