AUCTION: Residential Double Storey Bungalow at Karachi by 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 conducting a public auction of a mortgaged immovable property located in Karachi. The property is a residential double storey bungalow measuring 300 sq. yards situated at 444/1, Mezzuring Road, Phase VI, Block No. 50, Pak Secretariat, near Passport Office, Saddar, Karachi. This auction is pursuant to Execution No. 59 of 2025 in Suit No. 76 of 2025. Items being auctioned: - Residential Double Storey Bungalow, 300 sq. yards, Phase VI, Karachi The property will be auctioned on an 'as is where is basis' at the Court premises. The market value is fixed at Rs. 66,720,000. The person declared to be the highest bidder/purchaser will deposit immediately 25% of the bid amount by pay order in the name of Judge, Banking Court No. III, Karachi, along with photocopy of CNIC. No cheque or cash of 25% will be accepted. The balance of the bid amount must be paid by the successful bidder/purchaser before the Court closes on or before 15th day from the date of auction. If the bidder/purchaser fails to pay the balance of the bid amount within 15 days from the date of auction, 25% of the bid amount deposited by the bidder on the date of auction shall be forfeited. All government taxes and dues shall be borne by the auction purchaser. The sale shall be subject to confirmation by the Court. The Court reserves the right to cancel the auction or not to accept any bid even if it is highest at any time. Interested bidders should ensure they meet all auction terms and conditions and prepare the required earnest money and documentation. The auction will be held on 6th November 2026 at 01:00 p.m. at the Banking Court-III Karachi. A practical tip for bidders: Carefully inspect the property and verify all legal and tax dues before bidding to avoid any post-auction liabilities.