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AUCTION: Public Auction of Mortgaged Property at Block-B-3, Johar Town, Lahore
Expired Tender
Closing Date:
2026-08-25
2026-08-25
Tender Overview
- Category
- Asset Disposal & Auction / Real Estate & Property
- Sector
- Auction
- Tender Type
- Auction
- Submission Method
- Bids to be submitted at the auction site as per schedule
- Estimated Cost
- Rs. 10,940,050.11
- Source Name
- Newspaper
Location & Dates
Contact & Websites
- Contact Person
- Waseem Aslam Janjua
- Contact Phone
- 0321-6104888
Actions
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Tender Document
Tender Description
NOTE: This is an AUCTION/LEASE notice, not a procurement tender. Bidders pay the department to acquire ownership, lease, rental, or collection rights.
The Bank of Punjab is conducting a public auction for a mortgaged property located at House No.507, Block-B-3, Johar Town, Lahore. This auction is being held to recover the outstanding mortgage money from the mortgagor, Mr. Ali S/o Niaz Ahmed. The mortgaged property is situated at 5 Marlas 05qft, Khewat No.4, Khatooni No.194 to 263, Salam Khata Qitaat 142, total land measuring 748K-15M, out of which the transferred share is 1125/3369375, Al Madina Avenue, Punjab Government Employees Cooperative Housing Scheme College Road Hadbust Mouza Satuqatla, Tehsil Model Town, Lahore.
Items being auctioned:
- Mortgaged property at House No.507, Block-B-3, Johar Town, Lahore
The auction schedule is as follows:
1. Date of Auction Notice: 08-09-2025
2. Date of Auction: 25-08-2026
3. Time of Auction: 02:00 PM
4. Place of Auction: At Site
The reserve price of the property is Rs. 11,634,240/-. Bidders must deposit an earnest money of Rs. 300,000/- in cash or by way of payment order to the undersigned. The successful bidder shall deposit a minimum 25% of the bid amount within 2 business days of the auction and the remaining amount within 8 days. Failure to deposit the remaining amount within the prescribed time will result in forfeiture of the earnest money and re-initiation of auction proceedings. The Bank of Punjab reserves the right to accept or reject any bid without assigning any reason.
Interested bidders should ensure they meet all eligibility criteria and submit their bids in accordance with the terms and conditions stated. The auction will be conducted by the Bank of Punjab, 8th Floor, M.M Tower, M.M Allam Road, Gulberg-II, Lahore.
A practical tip for bidders: Carefully inspect the property at the site before the auction date to assess its condition and verify all legal documents to avoid any surprises post-purchase.