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LAHORE, Dec 10 (APP): Through the special efforts of Director General Lahore Development Authority (LDA) Tahir Farooq, commercial plots encroached upon for nearly 30 years have been successfully reclaimed and developed into the Jinnah Market, generating record revenue for the authority.
The Phase-II open auction of commercial shops in Jinnah Market and the Child Welfare Centre Township also concluded successfully. A total of 28 commercial plots were auctioned for Rs. 51 crore 65 lakh 22 thousand.
Vice Chairman LDA Mian Marghoob Ahmed and DG LDA Tahir Farooq personally reviewed the auction proceedings held at the Expo Centre, Johar Town.
Speaking on the occasion, DG LDA Tahir Farooq said that possession has already been handed over to the successful bidders from the previous auction. He added that LDA is offering full exemption from map fees and waiving the arcade requirement for successful bidders of Jinnah Market plots.
Members of the LDA Auction Committee supervised the process. Additional DG Housing, Director Finance, Director Auction, Director Housing, Director Revenue, and other relevant officers were also present during the open auction.