Notices Closed 07 Jul 2026
Public Auction: Residential House No.124, Block-A, PCSIR Co-op Housing Society, Lahore (13.80 Marla) — 07 July 2026
Public Auction · Lahore · Nawa-i-Waqt,
Notice advertisement published in Nawa-i-Waqt on Wednesday, 3 June 2026, listed under Lahore. The last date printed on the advertisement was Tuesday, 7 July 2026 and has passed.
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Dubai Islamic Bank Limited invites public bids in a public auction to recover outstanding mortgage finance secured on a residential property owned by Mr. Muhammad Abbas Arif. The property offered is a residential house located in PCSIR Staff Co-Operative Housing Society Ltd., Lahore (House No. 124, Block-A), area 13.80 Marla. Liability was determined by M/s Mohsin & Co., Chartered Accountants (report dated 24 October 2022).
| Property & Financial Details | |
|---|---|
| Mortgagee | Dubai Islamic Bank Limited |
| Mortgagor | Mr. Muhammad Abbas Arif |
| Property | Residential House No. 124, Block-A, PCSIR Staff Co-operative Housing Society Ltd., Lahore |
| Area | 13.80 Marla |
| Liability determined (report date) | As determined by M/s Mohsin & Co., CA on 2022-10-24 |
| Outstanding mortgage money (till 2022-10-24) | Rs. 7,501,525.07 |
| Amount paid (till 2026-06-02) | Rs. 4,100,000.00 |
| Remaining amount (till 2026-06-02) | Rs. 3,351,525.07 |
| Reserve price | Rs. 2,076,460/- (no bid below reserve will be accepted) |
| Auction Schedule | |
|---|---|
| Date of fixation/proclamation on site | 2026-06-05 |
| Date of auction | 2026-07-07 |
| Time | 02:00 PM |
| Place | On site (PCSIR Staff Co-operative Housing Society, Lahore) |
Key terms:
- Bidders must deposit 5% of the reserve price by pay order in favor of Dubai Islamic Bank Limited to be eligible to bid.
- The successful bidder must deposit 25% of the bid within two working days of the auction; remaining amount payable within 30 days of the auction.
- Purchaser will bear transfer charges and other applicable costs. Bank/auctioneer will not be responsible for encumbrances; bidders should satisfy themselves about title and other matters prior to bidding.
Contact for inspection and queries:
Mr. Muhammad Ahsan Majeed, Regional Collection Manager, Dubai Islamic Bank Limited. Cell: 0300-8490175
Interested parties should attend the on-site auction on 2026-07-07 at 02:00 PM. All dates are as stated in the published notice.
Published in Nawa-i-Waqt on Wednesday, 3 June 2026. DailyAds.pk indexes newspaper advertisements; the original notice and the issuing organisation remain the source for final terms and eligibility.
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