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KDA to auction 74 shops, offices and flat in Karachi

SAMAA | - Posted: Feb 19, 2020 | Last Updated: 3 months ago
Posted: Feb 19, 2020 | Last Updated: 3 months ago
KDA to auction 74 shops, offices and flat in Karachi

Civic Centre in Karachi. Photo: Samaa TV FILE

The Karachi Development Authority will be auctioning its leased properties in different areas of the megapolis from February 25. The auction is for the general public.

People can take part in the auction by submitting a pay order of Rs100,000 as security deposit in favour of the KDA Public Housing Scheme before the auction. The amount will be refundable to unsuccessful participants and adjustable for successful candidates.

KDA Marketing Director Nadeem Ahmed told SAMAA Digital that the auction will take place at 10am from February 25 to 27. The bidding will be held at the Seminar Hall located on the first floor of the Civic Center Building in Gulshan-e-Iqbal.

A total of 74 properties will be placed for auction, according to the official. These include 61 shops, 12 offices and one residential unit.

Ahmed said the auction will also have officials of the National Accountability Bureau and Anti-Corruption & Establishment as observers. This public auction of KDA properties is taking place after eight years, he added.

As per the schedule, 30 shops in Surjani Re-treat KDA Market in Sector 6 would be placed for auction. The area of each shop ranges from 263.93sq feet to 281.44sq feet.

Bidding for a 263sq feet shop will start from Rs2,375,370. For a 281sq feet shop, the bidding will start from Rs2,532,960. The shops available for auction in the Surjani Re-treat KDA Market are no. 17, 18, 19, 20, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 33, 38, 39, 40, 41, 42, 43, 44, 45, 46, 54, 55, 56, 57, 58 and 59.

There will be another 30 shops available for auction in the Surjani View KDA Market in the same sector. Their area ranges from 249sq feet to 271sq feet. The bidding for 249sq feet and 271sq feet shops will start from Rs2,241,000 and Rs2,439,000, respectively.

Twelve offices in Korangi Civic Center-I in Sector 36-I will be placed for auction. Bidding for 1422sq feet and 2848sq feet offices will start from Rs1,422,000 and Rs2,848,000, respectively. The offices available for auction are no. 13-24.

Bidding for a 160sq feet shop in Korangi Civic Center in Sector 36-I will start from Rs720,000.

There is only one residential unit available for auction at Gulshan Terrace in Gulshan-e-Iqbal Block 11. Bidding for Flat no B-11 will start from 5,232,000. It has an area of 872sq feet.

The KDA marketing director said the authority is auctioning these properties over non-payment of dues from previous buyers.

The terms and conditions for the auction are:

  • Highest bidders will have to deposit the first installment of 25% of the total cost of the unit on the fall of the hammer, through a pay order or demand draft in favour of KDA Public Housing Scheme. The second installment of 25% will have to be deposited after the confirmation of the bid. The remaining amount will be payable in two equal installments within three months.
  • The KDA reserves the right to reject any bid or offer without giving any reason during or after the auction.
  • The maximum period for taking over physical possession of the property is three months from the date of full payment. In case of default, the unit’s allotment would be cancelled without serving any notice and 10% of its total cost will be forfeited from the deposited amount.
  • All the taxes levied as per rules and policies of the government from time to time will be borne by the allottees.

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KDA, auction, shops, offices, flat, Karachi
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