Open Auction of Commercial Plots — Small Industrial Estate, Northern Bye Pass Karachi

Issuer: Sindh Small Industries Corporation. Open auction for sale of commercial plots at Small Industrial Estate, Northern Bye Pass, Karachi.

Key terms & conditions (summary):

- Leasehold rights for 99 years.

- Actual area of each plot will be measured physically.

- Successful bidders must pay 50% of their final bid immediately at the time of auction; the remaining 50% must be paid within 30 days. Failure to pay the remaining amount within 30 days will result in forfeiture of earlier paid amount and cancellation of the allotment.

- Plots will not be allotted for residential purposes.

- Participants must deposit a Pay Order of Rs. 20,000 (refundable) in favor of Sindh Small Industries Corporation in advance before the start of bidding. If a participant becomes the successful bidder but fails to pay 50% of the bid, the Rs. 20,000 deposit will be forfeited.

- Successful bidders will receive the allotment letter after payment of 50% of the bid.

- A 10% withholding tax under Section 236-A of the Income Tax Ordinance 2001 will be levied by the government and must be paid by the successful bidders along with the cost of the plot.

- The open auction venue: Small Industrial Estate, Northern Bye Pass Office, Karachi.

- The Corporation reserves the right to accept or reject any/all bids without assigning any reason.

For further information or assistance contact the relevant office of Sindh Small Industries Corporation.