AUCTION: Mortgage Property at Sheikhupura by Lahore High Court

NOTE: This is an AUCTION/LEASE notice, not a procurement tender. Bidders pay the department to acquire ownership, lease, rental, or collection rights. The Lahore High Court announces an auction of a mortgage property located in Sheikhupura. This auction arises from a legal decree involving Habib Bank Limited and various debtors. The property is a parcel measuring 80 Kanals in total bearing Khewat Nos. 28/31, Khatoni No. 87 to 103, Qitta No. 113, covering years 1986-1987 and 1974-2003. The property includes land and building with construction rights only. The reserve price is set at a substantial **Rs. 200 Million**. Items being auctioned: - Land and Building (Construction only) at Sheikhupura The property dimensions include East Road, West Property of others, North Property of others, and South Property of others. The auction will be conducted in two stages: proclamation at court premises on 27-10-2026, proclamation at the site on 29-10-2026, and the final auction date at the site on 02-12-2026 at 2:00 PM. The decree amount totals **Rs. 147,685,476.18** with additional costs of suit amounting to **Rs. 272,566.00**, making the total recoverable amount **Rs. 147,958,042.18** excluding auction expenses. Eligibility requires bidders to deposit an earnest money of **PKR 1,00,000/-** via Pay Order or Bank Draft to the Court Auctioneers before bidding. The highest bidder will be declared purchaser subject to court approval and must pay 25% down payment immediately after acceptance, with the balance payable within 15 days. For further details, bidders should contact the Bank Official Mr. Abid Waris Ali, Relationship Manager, Remedial Assets, at the provided contact numbers. The auction is governed by the Court Auction Rules and Code of Civil Procedure 1908. A practical tip for bidders: Ensure your earnest money deposit is timely and in the correct form to avoid disqualification. Also, inspect the property thoroughly before bidding as the sale is on an 'As Is Where Is' basis.