ShiekhuPura: A shop received a bid for 1.25 Billion monthly rent in Auction
This interesting situation arose in Munciple Corporation Office while the auction of a shop. Surprisingly the monthly rent of the shop reached 100 million Rupees. Here are the reasons:
Auction of the shops started in the Municipal Cooperation office in Shiekhupura under the supervision of Deputy Commissioner Asghar Joiya. The monthly rent of Shops started from 22,000 monthly. The surprising situation arose when two of the traders began to increase the bid against each other. This eventually led them to increase the monthly rent to 1.25 billion rupees insanely.
Members have submitted the 50,000 Rupees call deposit in advance. This auction is for one year and after the year the auction process will take place again.
After the whole Auction process deputy Commissioner addressed the press and seemed very positive about the auction, he furthermore stated that the process will happen after one year again with the same enthusiasm