Auction of House Property at Gulberg-III Lahore by SME Bank

This auction notice invites bids for the sale of a residential house property located in Gulberg-III, Lahore, issued by SME Bank Limited (In official liquidation). The property spans over 4 Kanals, 7 Marlas, and 113 Sq ft, offering a substantial residential facility in a prime city location under the bank's ownership. The property includes a main house with multiple bedrooms, drawing rooms, servant quarters, and annex buildings, all covered with approved building plans. Situated in Lahore, the site benefits from essential infrastructure such as electricity, gas, water, roads, and sewerage. The auction is conducted on an 'as is where is' basis, with a portion of the backyard currently leased for a cellular signal tower, which will be vacated by June 30, 2026, if required by the purchaser. Bidders must be Pakistani nationals or registered companies/firms in Pakistan. The auction requires submission of sealed bids with a refundable earnest money of PKR 22 million via bank draft or pay order. The payment schedule includes 25% deposit within 15 days of bid acceptance, 50% within 45 days, and the remaining balance upon possession transfer within 90 days. Compliance with PEC categories is not applicable here, but bidders should ensure their FBR/ATL status is clear for tax purposes. The bank reserves the right to reject bids under PPRA rules and expects bidders to bear all transfer-related costs including stamp duty and taxes. The submission deadline is set for 26th March 2026 at 3:30 pm, with bid opening at 4:00 pm on the same day. Bids must be delivered in sealed envelopes to the Official Liquidator SME Bank Ltd, Head Office, 56-F Nazimuddin Road, F-6/1, Blue Area, Islamabad. All bids must include CNIC copies and contact details. Pro-Tip: Ensure your bid includes the correct earnest money and is submitted in a sealed envelope clearly marked as 'Bid for Auction of House Property Gulberg-III Lahore' to avoid disqualification. Also, verify all ownership documents and site conditions before bidding to prevent future disputes.