The rooftop restaurant at Park N Shop Plaza auctioned

Lahore : Tenancy rights of the rooftop restaurant at the 10th floor Park N Shop Plaza, Moon Market, Allama Iqbal Town, along with its top floor, were auctioned by LDA in a sum of Rs.17.4 million per year.

Bid starting price for this highest rooftop restaurant of the provincial metropolis, covering a space of 27904  square feet, had been fixed as Rs.50/- per square foot per month whereas it fetched a price of Rs. 52/-per square foot per month, amounting to a total of Rs. 1.451 million per month or Rs.17.4 million per year.

The restaurant has been rented out for a period of 10 years. The successful bidder will avail the facility of first six months’ rent-free use of the site.

The auction was held at LDA Community Centre, 239-A, New Muslim Town, Lahore. Additional Director General (Housing) LDA Zeeshan Shabbir Rana along with members of LDA’s auction committee including Director Finance Zaheer Asghar Rana, Directors Estate Management Kh. Touqeer Hassan, Usman Ghani and Fahad Anees, Director Land Development Muhammad Asad Ameer, as well as other officers supervised the auction proceedings.

Tenancy rights of a marquee site of LDA situated in Civic Centre Town Ship, measuring nine kanals and 18 marlas, were auctioned in a sum of Rs. 10 million per year on Saturday.

Bid starting price for the rent of this marquee had been fixed as Rs. 4.5 lakhs per month. The site fetched a rent of Rs. 8.35 lakhs per month amounting to a total of Rs. 10 million per year.

A total of nine commercial plots were auctioned by Lahore Development Authority against a sum of Rs.18.7 million on Saturday.

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 commercial plot No 6, situated in Civic Centre, Jubilee Town measuring One Kanal, One marla and 192  sqft, which was auctioned against a total amount of Rs.41 million. Its base price had been fixed as Rs.1.87 million per marla where as it fetched a price of Rs.1.88 million per marla.