Lahore: According to an advertisement published in national publications on August 22, the Lahore Central Business District Development Authority (LCBDDA) has scheduled an open auction of 5 commercial plots located in Gulberg’s Main Boulevard and Ferozepur Road on September 7.
The aforementioned sites will be utilised to build high-rise signature buildings, mixed-use complexes, financial towers, hotels, or corporate centres. Prime 01 (18 kanal), Prime 02 (11 kanal), Prime 03 (10 kanal), Prime 04 (13 kanal), and Prime 05 (10 kanal) are the five plots that have been put up for sale by the government.
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According to the advertisement, the project will be one of its kind in the centre of the city under the Central Business District (CBD) authority. A list of the salient features of the project are:
- 5% discount on full payment of plot within 45 days of auction
- Option of 25% bid money with earnest money submission within 45 days of auction
- Remaining payment of 75% within 1 year in 3 quarterly payments
- Plots with the highest Floor Area Ratio (FAR)
- One -window operation to facilitate bidders at every stage of the bidding process
- The land is allotted on a “Title Ownership Basis”
- Country’s first LEED-certified Project
- Favourable bylaws for high rise construction