EVACUEE TRUST PROPERTY BOARD GOT. OF PAKISTAN
OPEN AUCTION FOR 30 YEARS LEASE/DEVELOPMENT OF EVACUEE TRUST PROPERTY SITUATED AT BANNI CHOWK, RAWALPINDI.
Evacuee Trust Property Board Government of Pakistan intends to lease out its Property No. P-301, measuring 07-Marlas & 235-sq.ft (comprising semi completed Commercial Hall on Ground Floor, Flats on 1st, 2nd and 3rd and completed grey structure on 4th floor) situated at Banni Chowk, Rawalpindi for a period of 30 years (extendable on mutual agreed terms and conditions) under Clause 5 read with Clause 18-C of Urban Scheme 1977 respectively:
|Date of of Auction||06-10-2020|
|Venue:-||Office of the Zonal Administrator, Evacuee Trust Property, NA-272/A, 7th Road, New Malpur, Satellite town, Rawalpindi.|
|Note:||In case of no offer is received on the above mentioned date or due to any reason open auction is not held on the given date or the offer received is not worth consideration, alternate dates shall be 13-10-2020 and 23-10-2020 at the same time and venue.|
Detail of Property and Reserve Rates are given below:-
|S. No||Property No.||Area||Location||Reserve Rate for Non Refundable Security||Reserve Rate for final Monthly Rent||Provisional Monthly Rent|
|1||P-301||00||07||235||Banni Chowk, Rawalpindi.||17,500,000/- (Seventeen Millions)||125,000/- (Rupees one hundred and ten thousand only)||Rs.25,000/- (rupees fifteen thousand only)|
Prequalification requisite for participants in Auction proceedings:-
1). Bank statement for one year.
2). National Identity Card
3). National Tax Number
4). Non Defaulter of ETPB
5). Current Business Profile.
Terms and Conditions:–
- Each and every sane Pakistani citizen can participate in the open auction proceedings except government employee and defaulter of Evacuee Trust Property Board.
- Pre-requisite documents to be furnished in the office of the undersigned at-least three days prior to date of auction proceedings failing which the interested person(s) will not be allowed to participate in the auction proceedings. Pre-qualification will be performed one day prior to the auction proceedings and only the pre-qualified persons will be allowed to participate in the auction proceedings. Pre-qualification will be performed one day prior to the every date of auction and respective bidders who have deposited the pre-qualification documents earlier in response to this advertisement are exempted until and unless they intend to deposit/ submit additional documents.
- The interested persons/parties who desire to participate in the public auction proceedings shall submit a call deposit/ Demand Draft of 10% of the reserved NRS in the name of Deputy Administrator, Evacuee Trust Property Office, Rawalpindi along with pre-qualification documents i.e at least three days prior to the auction, which shall be returned to the respective depositors after the auction proceedings except the highest bidder within a period of four weeks or after approval of auction proceedings by the Competent Authority whichever is earlier. The highest bidder shall also deposit remaining highest bid amount within a period of 02-days after auction proceedings, failing which the already deposited CDR / Demand Draft shall be forfeited and auction will be conducted on the alternate next date.
- In the 1st phase of auction, bidding will be carried out for Non-Refundable Security (NRS) only and in the 2nd phase of auction bidding will be carried out for final per month rent for completed building.
- Highest bidder will be determined on the basis of offered NRS and monthly rent.
- The Participants in the proceedings shall submit a certificate that he is / they are neither a Govt. Employee nor a defaulter of ETP Board.
- The Auction Committee is empowered to approve / disapprove / postpone the auction proceedings without assigning any reason.
- Results of proceedings after auction will be placed before the Chairman, ETP Board being the Competent Authority for final consideration / approval.
- Chairman, ETP Board, being competent authority is empowered to reject or accept the results of auction proceedings without assigning any reason.
- After final approval of auction proceeding of the Competent Authority, the successful highest bidder / developer will be granted 04 months grace period for any structural changes / renovation / construction in the building as per his / their desires. The said grace period shall be considered expired after 04 months from the date of approval of Competent Authority, i.e. Chairman, ETP Board, Lahore and handing over the possession to the lessee.
- No extension in grace period shall be allowed in any case and final rent shall be commenced after expiry of 04-months. During the course of grace period, the lessee shall be responsible for payment of provisional rent.
- After expiry of grace period, the lessee / tenants under him shall not be allowed to carry out structural changes / raise any new construction without approval of the competent authority.
- The successful highest bidder / developer/ lessee can induct tenants under him and lessee and tenants under him shall be jointly and severely responsible for the payment of rent to the department.
- The successful highest bidder shall be responsible to get approval of NOCs / building plan from the concerned authorities / departments at his / their own expenses which will not be adjusted by the department towards monthly liabilities of lessee.
- The lessee / tenants under him shall be jointly and severely responsible to pay the utility expenses.
- The lessee shall be sole responsible to get the additional connections of utilities installed in the premises on his own expenses without any subsequent adjustment in the liabilities towards department.
- Further information can be collected from the undersigned during office hours.
Evacuee Trust Property Office,