Online Bidding Auction for Model Music Mandis in Chiniot District

NOTE: This is an AUCTION/LEASE notice, not a procurement tender. Bidders pay the department to acquire ownership, lease, rental, or collection rights. The Punjab Chemical Market Management and Development Company is inviting online bidding for the auction of Model Music Mandis located in Chiniot District, Punjab. This auction is conducted under the PCMMDC E-Auction Policy 2025 Amended and approved by the Board of Directors. The auction process is scheduled to be completed by March 2026. Items being auctioned: - Model Music Mandi, Chiniot - Government Chak Number 40/12L, Tehsil Chiniot, District Chiniot - Reserve Price: Rs. 116,878,667 - Auction period: From 13 August 2026 to 30 June 2027 The auction will be conducted online through the Punjab E-Government Procurement Portal (https://elged.punjab.gov.pk/login). Bidders must pay a non-refundable fee of Rs. 10,000 via the PSID system to obtain the bidding documents. Online bidding will be open until 10 August 2026 at 5:00 PM, and the system will close at 11:59 PM on the same day. The online auction will commence at 10:00 AM and conclude at 11:00 AM on 11 August 2026. Bidders are required to submit a 10% bid security through the PSID system. The highest bidder will be required to deposit an additional 10% within 24 hours of the auction closing. The auction is governed by the Punjab Sales Tax on Services Act, 2012, and the contract value is subject to 16% sales tax. The highest bidder must comply with all terms and conditions, including submission of CDR/Pay Order as earnest money. This auction offers a valuable opportunity for interested parties to acquire lease rights for the Model Music Mandis in Chiniot. Bidders should ensure timely registration on the e-procurement portal and carefully review all auction terms. It is advisable to prepare the required earnest money and documentation in advance to avoid disqualification. The auction process is transparent and conducted under strict regulatory oversight to ensure fairness. Interested bidders should monitor the official website www.pcmmddc.punjab.gov.pk for updates and announcements. A practical tip for bidders: Ensure your PSID account is active and funded before the auction date to avoid last-minute technical issues during online bidding.