FGEHF gets Rs706.35m from auction of plots

Islamabad: The Federal Government Employees Housing Foundation (FGEHF) fetched Rs706.35 million from auction of commercial plots located in sectors G-13 and G-14/4.

During the open bidding of 15' commercial plots, the auction committee managed to get encouraging response for auction of nine plots while auction of six plots was deferred. Director General FGEHF Waseem Hayat, senior officials of the ministry of housing and housing were present on the occasion.

One of plots in sector G-13/2 measuring 233.33 sq yards received highest offer of Rs380,000 per square yards and the same was auctioned for over Rs88 million. Another two plots measuring 500 square yards in the same sector were auctioned for per square yard offer of Rs262,000 each. The highest price in sector G-13/2 was Rs214,000 per square yards while auction of all the six plots in sector G-13/3 was deferred.. The amount received from auction would be spent on development of sector G-13 and G-14/4.