The Lahore Development Authority (LDA) has organized an auction event to auction off its commercial and residential plots in several societies to raise capital for the development projects.
The auction has been started at 9 am today (Oct 5, 2022) at the LDA Community Center in New Garden Town, Lahore.
LDA has planned to auction off its plots in the following societies:
- Model Town Extension
- Tajpura
- Johar Town
- Sabzazar
- Jubilee Town
It is important to note that plots were to be auctioned off at a public auction monitored by the LDA auction committee in order to ensure transparency.
LDA expects to generate PKR 50 billion from the sale of these plots.
Earlier, the LDA had also decided to form new laws for the classification of land in several different societies.
Furthermore, societies will be required to build civic centers and commercial marketplaces to increase business opportunities, which will automatically increase incomes.
