AUCTION: Lease Rights of Commercial Land at Satellite Town D Block Park, Gujranwala

NOTE: This is an AUCTION/LEASE notice, not a procurement tender. Bidders pay the department to acquire ownership, lease, rental, or collection rights. The Horticulture Agency Gujranwala is inviting sealed bids for the public auction of lease rights for commercial land situated at Satellite Town D Block Park, Gujranwala. This opportunity is open to interested parties seeking to acquire lease rights for a prime commercial plot measuring 160.14 marla for a period of 10 years. The auction will be conducted as per the terms and conditions set by the agency, ensuring transparency and fair competition among bidders. Items being auctioned: - Lease rights of commercial land at Satellite Town D Block Park, Gujranwala (Area: 160.14 marla) - Reserve price: Rs. 1,905,000 per annum - Earnest money: Rs. 190,500 The successful bidder will be granted lease rights for a duration of 10 years, with the annual lease amount subject to a 10% increase each year. The auction will be held at the office of the Horticulture Agency Gujranwala, and interested parties must submit their sealed bids along with the required earnest money in the form of a pay order or bank draft. Bidders must also provide a copy of their CNIC and an affidavit confirming that they are not defaulters of any government department. The auction process will commence at 1:00 PM on 22-09-2024, with the final bid opening at 1:30 PM the same day. Eligibility criteria include submission of earnest money, compliance with all terms and conditions, and fulfillment of legal requirements. It is advisable for bidders to visit the site prior to the auction date to assess the location and potential of the property. For a competitive edge, ensure all documentation is complete and submitted well before the deadline to avoid last-minute issues.