Due to the incompetent management of Capital Development Authority (CDA), it has failed to gather the attention of investors from the city of two million people in the auction of plots at different places. On the first day, only 28 people purchased tokens and participated in the auction in which 15 residential plots were auctioned out of a total of 37.
CDA has auctioned 15 residential plots worth of Rs500 million, in an event held by CDA at Jinnah Convention Centre in Islamabad. The auction will continue till May 18, 2017.
The participants criticised the wrong policies of the civic management on the floor and said that CDA was auctioning the residential plots at higher rates than market prices.” They said that middle class could not afford these plots.
Auction witnessed lack of interest by the participants in the bidding of small plots starting from higher rates, of sector D-12. Residential plots in sector G-10, F-10, and D-12 were also placed for auction.
Participants told Pakistan Today that investors did not show their interest in the bidding due to the wrong policies of the authority. They expressed that many plots that were open to auction were subjected to the courts, and later, the bidders had to suffer.
A nine-member committee headed by CDA Member Finance Dr Fahad Aziz supervised the auction proceedings. Member (Planning), Dy.D.G (Finance), Dy.D.G (L&E), Dy.D.G(Law), Director (UP), Director (RP), Director Public Relations and Director Estate Management-II of CDA participated as members of the committee.
Commercial plots which would be presented for the auction today (Wednesday) are of different categories including 24 plots for Class-III shopping centers, nine plots of different Marakiz, one for diplomatic enclave for apartment purpose, one economy flat, two meant for hotel purpose, three petrol pumps located at prime locations of Islamabad, one auto mobile workshop, one plot in timber market and one plot in Orchard Scheme Murree Road.
Mayor of Islamabad and Chairman CDA Sheikh Anser Aziz said that the income from the auction of residential plots would be spent on the development of various sectors of Islamabad. He said that particular attention has been paid to the preservation of green areas in the residential sectors to maintain the balance between residential and green areas. He said that CDA would use all available resources for the development of sectors and provision of civic amenities to the residents.
The committee will submit its recommendations to the CDA Board. The CDA Board is the competent authority to accord final approval to the recommendations, after the conclusion of the auction process.
