AUCTION: Commercial Plots at Small Industrial Estate Northern Bye Pass Karachi

NOTE: This is an AUCTION/LEASE notice, not a procurement tender. Bidders pay the department to acquire ownership, lease, rental, or collection rights. Sindh Small Industries Corporation invites interested parties to participate in the open auction for the sale of commercial plots located at Small Industrial Estate, Northern Bye Pass Karachi. The auction offers commercial plots with leasehold rights for 99 years. The plots available are measured as 20x20 and 20x30 feet, with a reserved price of Rs. 35000 per square yard. Items being auctioned: - Commercial plot 20x20 at Small Industrial Estate - Commercial plot 20x30 at Small Industrial Estate The actual area of each plot will be physically measured. Successful bidders must pay 50% of their final bid amount at the time of auction, with the remaining 50% payable within 30 days. Failure to pay the remaining amount will result in forfeiture of the initial payment and cancellation of the allotment letter. Plots are strictly for commercial use and cannot be used for residential purposes. Participants must deposit a refundable Pay Order of Rs. 20,000 in favor of SSIC before bidding. If a successful bidder fails to pay 50% of the bid, the deposit will become non-refundable. The offer letter will be issued after payment of 50% of the bid. Additionally, a 10% withholding tax under section 236-A of the Income Tax Ordinance 2001 will be levied on successful bidders along with the cost of the plot. The auction will be held at Small Industrial Estate, Northern Bye Pass Office, Karachi on Friday at 10:00 A.M. The corporation reserves the right to accept or reject any bids without assigning reasons. For assistance, bidders may contact the Regional Office Shershah Karachi or visit the Small Industrial Estate office at Northern Bye Pass Karachi. Bidders are advised to ensure timely payment of bid amounts and to physically verify plot measurements before bidding to avoid any disputes. Early preparation of the Pay Order and understanding the tax implications will facilitate smooth participation.