AUCTION: Lease Rights of Weekly Bazaar Site at Town Municipal Corporation Gulshan Iqbal Karachi

NOTE: This is an AUCTION/LEASE notice, not a procurement tender. Bidders pay the department to acquire ownership, lease, rental, or collection rights. Town Municipal Corporation Gulshan Iqbal Karachi is inviting sealed bids for the lease rights of a weekly bazaar site for the financial year 2026-27. The auction is being conducted for the collection rights of the weekly bazaar located within the jurisdiction of TMC Gulshan Iqbal, Karachi. The reserve price for the auction is set at Rs. 900,000 for the year. Items being auctioned: - Lease rights for collection of fees at the weekly bazaar site (Reserve Price: Rs. 900,000) The successful bidder will be entitled to collect the prescribed fees from stallholders and vendors operating in the weekly bazaar as per the terms and conditions set by the municipal corporation. The auction will be held at the office of the Town Municipal Corporation Gulshan Iqbal. Bidders must be registered with Sindh Revenue Board (SRB) and Sindh Taxation and Narcotics (SNTN). A bid security of 10 percent of the reserve price must be submitted in the form of a pay order or CDR along with the application. The successful bidder will also be required to deposit 25 percent of the total bid amount within 24 hours of the auction, with the remaining amount payable as per the schedule. The deadline for submission of sealed bids is 14 September 2026. The auction will be conducted on 15 September 2026, and the successful bidder must sign the agreement by 16 September 2026. Bidders are advised to carefully review all terms and conditions, including compliance with municipal regulations and timely payment schedules. For best results, ensure your bid security and registration documents are complete and up to date before submission.