Lahore: In an effort to facilitate development in key areas, the Lahore Development Authority (LDA) is poised to host a significant auction for educational and public utility sites. The event, marked for September 25, 2024, at 10 AM, will take place at the Convention Centre, located within the Expo Centre in Johar Town.

According to Zameen.Com, the LDA announced the auction details through an official post on their Facebook page on September 10. The auction will feature sites located in Bahria Town, Dream Garden Housing Scheme, Quaid-e-Azam Town, and Venus Housing Scheme, all designated for educational and public utility purposes. The initial bidding for these sites will start from 50,000 PKR for areas as large as 1 crore sq. ft., escalating to starting bids of 18.75 lakh PKR and 15 lakh PKR for larger areas up to 4 crore sq. ft. Bidders are required to place a security deposit ranging from 13 lakh PKR to 40 lakh PKR, with increments set between 1 lakh PKR and 4 lakh PKR.

The LDA emphasizes the transparent nature of the bidding process, ensuring fair opportunities for all participants looking to invest in Lahore’s expanding real estate market. This auction presents a prime opportunity for investors and developers interested in acquiring valuable real estate for educational and public projects.