CDA set to fetch Rs1.81b from auction of six commercial plots

Islamabad
The Capital Development Authority (CDA) is set to fetch Rs1.81 billion from auction of six commercial plots in developed sectors.
The two-day auction of commercial plots in the developed sectors of Islamabad began at the Jinnah Convention Centre here on Tuesday.
The auction proceedings are being supervised by the auction committee, headed by Member Environment Syed Mustafain Kazmi, with Deputy Director General Finance, Deputy Director General (Law), Deputy Director General (Land and Estate), and Directors of Public Relations, Estate Management-II and Urban Planning as its members.
On first day, a commercial plot (No. 20), measuring 711.11 square yards located in G-11 Markaz, secured the highest bidding at the rate of Rs574,000 per square yard, while a commercial plot measuring 500 square yards was auction at the rate of Rs465,000 per square yard. A plot measuring 1,600 square yards situated in Sector D-12 was auctioned at the rate of Rs271,000 per square yard. A plot situated in Sector D-12 measuring 711.11 square yards was auctioned at the rate of Rs251,000 per square yard.
A plot meant for petrol pump situated in Sector I-11/4 measuring 1,955.55 square yards was auctioned at the rate of Rs183,000 per square yard. While a plot measuring 4,033.33 square yards situated in Industrial Area, I-10/3, was auctioned at the rate of Rs51,000 per square yard. The CDA Board, after the auctioning process, would approve offers of successful bidders.