The cash-strapped Capital Development Authority (CDA) on Thursday auctioned six commercial plots valuing Rs 1.7 billion located in various sectors of the city. The CDA got a resounding response during the auction of commercial plots. Bidding was conducted at a local hotel and was supervised by Member Finance Saeed-ur-Rehman.
CDA offered for bidding seven commercial plots, out of which six plots located in sectors F-6, F-7, F-8, G-11 and F-11 were auctioned. Auction of plot no1-D, situated in F-7 Markaz was withdrawn due to legal issues. Plot No.24 measuring 711.11 square yards in F-6 Markaz fetched the highest bid of Rs 433,000 per sq yards. Plot No 27 measuring 844.44 square yards in F-11 Markaz was auctioned at a rate of Rs.355,000 per square yard.
The recommendations of the auction committee would be submitted to CDA Board, which is the final authority for approving or disapproving any of the bids against these plots.