Swabi Development Authority Swabi Auction of Residential Plots
SWABI DEVELOPMENT AUTHORITY SWABI
AUCTION OF RESIDENTIAL PLOTS AT SHAHMANSOOR TOWN SWABI
Swabi Development Authority intends to auction the following residential plots in Shahmansoor Town Swabi on 8th March (Tuesday) 2016 at 11:00 AM in the office of Swabi Development Authority Shahmansoor Township Swabi, In case the auction remains incomplete due to some unavoidable circumstances, the same will held on next day i.e 9th March (Wednesday) 2016.
Terms & Conditions For Open Auction of Residential Plots.
1. For participation in the auction, the interested persons will be required to deposit Rs.2,00000/-(Rupees
Two lac only) for each plot as security in the shape of bank draft /call deposit/ pay order in the name of Project Director Swabi Development Authority along with a copy of CNIC before the auction, otherwise they will not be allowed to participate in the auction process. The Security will be refunded to the unsuccessful bidder(s) immediately after finalization of auction.
2. All plots will be put to auction one by one.
3. The successful bidder(s) will be required to deposit 2.5% amount of the bid in the name of Project Director Swabi Development Authority within seven (7) days since the date of auction. In case of failure, the bid shall stand cancelled and the security will be forfeited in favour of the Authority.
4. The balance amount will have to be paid within one month since the date of issuance of bid approval letter.
5. If the successful bidder(s) fails to deposit the balance cost within due date, 10% surcharge on the balance amount shall be recovered within delay period of 30 days. Furthermore, if he/she fails to deposit the cost with 10% surcharge within 30 days after the due date, the bid shall stand cancelled and the security or 30% of the deposited amount whichever is more, will be forfeited in favour of Swabi Development Authority.
6. The successful bidder(s) shall have to pay in addition to the bid amount, income tax, capital value tax or any other applicable taxes with the concerned department. In case of failure, action will be taken against the allottee under the relevant rules.
7. The possession of plot(s) shall only be given after full payment of dues.
8. The period of construction shall be deemed as two years from the date of allotment.
9. All expenses pertaining to registration or transfer deed etc shall be borne by the successful bidder(s).
10. The persons representing somebody else shall have to produce an attested power of attorney/authority letter, failing which he/she will not be allowed to participate in the auction.
11. The successful bidder will have to pay the prescribed fee with SDA Swabi by availing various amentias of Shahmansoor Town Swabi.
12. Any person found to influence or threaten other participants not to offer bid(s) according to his/her free choice should be disqualified and will be handed over to law enforcing agency for his/her misconduct.
13. The Auction Committee reserve the right to accept or reject any or all the bid(s) by assigning valid reasons.
Project Director SDA Swabi
INF(P) 650 also available on www.khyberpakhtunkhwa.gov.pk