11 shops of Park N Ride Plaza sold for Rs 47 million in auction

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LAHORE: On the directives of Punjab Chief Minister (CM) Shahbaz Sharif, 11 out of 26 shops situated at the lower ground floor of the newly constructed Park & Ride Plaza in the Liberty Market were sold through open auction by the Lahore Development Authority (LDA) on Wednesday.

Selling price of the shops was set at Rs 43.80 million, however, they were finally sold at Rs 47.025 million.

A total of 16 bidders, who had deposited pay orders worth Rs 1 million each as participation fee, took part in the auction and a serious competition was observed between them.

For ensuring transparency during the whole proceeding, journalists had also been invited to witness the proceedings, and the electronic media was telecasting the auction live as well. The auction started at 11:30am and continued till 1:30pm.

Separately, the staff of the Town Planning wing of LDA completely demolished as many as six shops and partially pulled down another six constructions in Johar Town on Wednesday.

The LDA staff totally razed three shops that had been constructed in violation of building by-laws on plot No 46 block D situated at the Main Boulevard and demolished six others in the 33 acre scheme of C block area of Johar Town. Three shops constructed on plot No 282 H were partially demolished. Also, a commercial type under-construction building on plot No 415 J3 and a restaurant on plot No 408 J 3 were also partially demolished.

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11 shops of Park N Ride Plaza sold for Rs 47 million in auction
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