CDA fetches over Rs7b from plots auction

Islamabad : The Capital Development Authority (CDA) got Rs7.23 billion from auction of four commercial plots in phase of Blue Area on Wednesday.

“The highest bids received by the auction committee are more than our expectations as we have estimated to receive Rs7 billion in three days which managed on the first day,” an official of CDA said.

According to details, plot number one measuring 672.22 square yards received highest bid of Rs894.7 million at the rate of Rs1.33 million per square yard while plot number 4 measuring 2,000 square yards secured highest offer of Rs2.11 billion at the rate of Rs10.5 million per square yard.

Similarly, plot no. 8 measuring 672.22 square yards was auctioned for highest bid of Rs857.7 million for Rs1.27 million per square yard while plot number 9 measuring 2,500 square yards was okayed for Rs3.37 billion at the rate of Rs1.35 million per square yards.

A large size plot number 10 measuring 3,333.33 square received highest bid of Rs3.18 but the offer is yet to be okayed by the auction committee. Member Finance heads the auction committee while it also includes Member Planning and Design, Deputy Financial Adviser and other officials.