OPEN PUBLIC AUCTION ADVERTISEMENT FOR RENTING OUT ET PROPERTY ON MONTHLY RENTAL BASIS FOR THE PERIOD OF 03-YEARS FOR RESIDENTIAL PURPOSE

             Evacuee Trust Property Board

                   GOVERNMENT OF PAKISTAN

OPEN PUBLIC AUCTION ADVERTISEMENT FOR RENTING OUT ET PROPERTY ON MONTHLY RENTAL BASIS FOR THE PERIOD OF 03-YEARS FOR RESIDENTIAL PURPOSE

Evacuee Trust Property Board, Government of Pakistan intends to rent out its following Evacuee Trust Property through open auction on monthly rental basis on as and where basis.

Open Auction Schedule: –

Date of Open Auction: 30-09-2022 at 1100 AM

Venue: 22-Zaman Park, Lahore.

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, the auction date will be re-advertised.

Detail of Property: –

Sr. No. Property / Bungalow Area Purpose LOCATION Re-fundable Security
K M Sq.Ft
1 22-Zaman Park, Lahore. 06 17 77 Residential purpose 22-Zaman Park, Lahore.

 

 05-Million

 

Preliminary Eligibility of persons participating in Open Auction: –

  1. National Tax Number                              NADRA’s issued Identity Card

 

TERMS AND CONDITIONS:

  1. Every Pakistani company or individual can participate in the open auction except defaulter of this Department or Govt. servant.
  2. Every participant of the open auction will submit a certificate on stamp paper of Rs. 100/- that he is neither a Govt. employee nor a defaulter of this department (specimen available on website).
  3. Every participant of the open auction will submit pay order / CDR of Rs. 500,000/- in the name of Chairman, ETP Board at least two hours before auction time which shall be returned to all depositors after the open auction except highest bidder.
  4. After approval of bid by the competent authority, the successful bidder will be bound to deposit refundable security as well as six months advance rent for two quarters within 07 days. In case of default, his pay order / CDR of Rs. 500,000/- will be forfeited and 2nd highest bidder will be offered to deposit highest bid into Board’s exchequer. If the 2nd highest bidder refuses to accept the offer within 07 days of offer, the property will be auctioned on next date of auction.
  5. The tenant / highest bidder will be bound not to run any commercial guest house or perform any commercial activities on the premises.
  6. The tenancy period will be 03-years with 10% annual increase.
  7. In case of non-vacation after expiry of tenancy period or by notice from ETPB, punitive rent equal to 100% of the existing rent at that time shall be charged to the tenant. If tenant fails to pay punitive rent for 02 months, the deposited security will be confiscated.
  8. Pre-requisites documents are to be furnished at 22-Zaman Park, Lahore at least two hours prior to auction proceedings which will be scrutinized by the auction committee on the day of auction.
  9. The persons fail to furnish requisite documents well in time or disqualified by auction committee will not be allowed to participate in the auction proceedings.
  10. Result of open auction proceedings will be placed before the competent authority for approval.
  11. The auction committee will reserve the right to accept or reject any bid, or postpones the auction without assigning any reason.
  12. In case of any damages towards the property and household items, the tenant will be liable to pay the cost of damages.
  13. Location, photograph & contract are available at website: etpb.gov.pk.

 

Deputy Administrator, Evacuee Trust Property, Office, Lahore-II, Agarwal Ashram Building 02-Court Street, Lahore

PH: 042-99210119