CDA expects to generate Rs2.18b from 11 commercial plots 

Islamabad

The Capital Development Authority (CDA) is set to fetch Rs2.18 billion from sale of eleven commercial plots located in different business areas on the first day of a two-day auction here on Tuesday.

On the first day, the auction committee offered eleven out of 28 commercial plots for auction in Markaz D-12, Markaz I-12 and Park Enclave.

A commercial plot of size 711.11 square yards fetched the highest per square yard price of Rs323,000. “The response from investors is per our expectations as they have reposed confidence in the policies of the civic body,” a CDA official said.

The auction committee, headed by Member Planning Waseem Ahmad Khan, includes Member Environment Sanaullah Aman, Deputy Director General Law Najma Azhar, Deputy Director General Finance Khalida Parveen, Deputy Director General Land Abdus Salam Shah, directors of Regional and Urban Planning and the Public Relations director.

The CDA Board is the final authority to okay the highest bid for every plot.

The plots auctioned on Tuesday included Markaz D-12: Plot 15 (1,600 square yards) Rs282,000 per sq yard; Plot 2 (1,600 square yards) Rs275,000 per sq yard; Plot 32 (711.11 square yards) Rs 307,000 per sq yard; Plot 32-A (711.11 square yards) Rs323,000 per sq yard, Petrol Pump Plot (1833.33 square yards) Rs190,000 per sq yard and Markaz I-12: Plot 3K (1066.66 square yards) Rs146,000 per sq yard, Park Enclave: Plot 8 (266.66 square yards) Rs255,000 per sq yard; Plot 9 (266.66 square yards) Rs265,000 per sq yard; Plot 10 (266.66 square yards) Rs 278,000 per sq yard; Plot 29 (266.66 square yards) Rs291,000 per sq yard and Plot 30 (266.66 square yards) Rs280,000 per sq yard.

Another 17 commercial plots located in Markaz I-8, G-11, F-11, I-12, I-16 and Park Enclave-II would be offered for auction today (Wednesday). “We expect to receive a good response from investors for the remaining plots too,” the CDA official said.