The Lahore Development Authority (LDA) has generated a record revenue of Rs1.115 billion by auctioning 45 commercial plots in Jinnah Market, Township, which were previously encroached for over 30 years.
The auction, held at the Expo Centre Johar Town, saw strong participation and raised funds for the development of the newly designated market.
Vice Chairman of LDA, Mian Marghoob Ahmed, personally supervised the auction process. Senior officials, including the Additional DG Headquarters, Director Finance, Director Auction, Director Housing, Director Revenue, and Director Housing IV, were present during the event, ensuring the smooth conduct of the auction.
Among the highest-selling plots, Plot No. 26A was auctioned for Rs39.894 million, while Plot No. 25A fetched Rs36.09 million. Other commercial plots such as Plot No. 24A, Plot No. 23A, and Plot No. 22A sold for values ranging from Rs36 million to Rs37.7 million. The auction also included several larger and corner plots, with values ranging from Rs153 million to Rs316 million.
The funds generated are expected to contribute to future urban development initiatives, with the establishment of Jinnah Market providing a boost to the area’s commercial infrastructure.
