AUCTION: Mortgaged Immovable Property at Karachi Banking Court-III

NOTE: This is an AUCTION/LEASE notice, not a procurement tender. Bidders pay the department to acquire ownership, lease, rental, or collection rights. The Banking Court-III, Karachi is offering for public auction a mortgaged immovable property located at Plot No. 773, Sector 10-D, T.I.T. Colony, Karachi, measuring 1472.88 sq. yards. This auction is conducted under Execution No. 43 of 2024 in Suit No. 54 of 2021. The property will be auctioned on 11th October 2026 at 01:00 PM at the Banking Court-III, Karachi. Items being auctioned: - Mortgaged immovable property at Plot No. 773, Sector 10-D, T.I.T. Colony, Karachi (1472.88 sq. yards) The market value of the property is fixed at Rs. 8,292,000 with a forced sale value of Rs. 4,719,000. The highest bidder must deposit 25% of the bid amount immediately as earnest money in the form of pay order or bank draft in favor of the Banking Court No. III, Karachi. The balance must be paid within 15 days from the date of auction. Failure to pay the balance will result in forfeiture of the earnest money. Government taxes and dues will be borne by the auction purchaser. The sale is subject to confirmation by the court, which reserves the right to cancel the auction or reject any bid at any time. Interested bidders should ensure timely submission of their bids and prepare the required earnest money in the specified form. It is advisable to visit the property site beforehand to assess its condition and value. Bidders must comply with all auction terms to avoid disqualification. This auction provides a valuable opportunity to acquire prime immovable property in Karachi through a transparent public process. Bidders are encouraged to carefully review all conditions and prepare their bids accordingly.