ISLAMABAD – Cash-strapped Capital Development Authority (CDA) sold 13 commercial and 16 residential plots for Rs 1.42 billion during an open auction held at Aabpara Community Center in the last two days. The commercial plots were sold for Rs 1.18 billion on Wednesday and the residential ones for Rs. 246.1 million on Tuesday.
The auction was supervised by Member Finance Saeed-ur-Rehman helped by Member Estate SM Farooqi, Member Planning and Design Abdul Jabbar Melano, deputy director general, director estate management I and II, director public relations and director accounts.
Six commercial plots located in Sector F-10, F-11 and D-12, 5 Class-III shopping centre plots in Sector G-11/1 and 2 commercial plots located in Grain, Cloth, Fruit and Vegetable Market Sector I-11 were successfully auctioned, an official said, adding that plot No.27 measuring 844.44 square yards in F-11 Markaz fetched the highest bid of Rs.4,20,000 per square yards.
A Class-III Shopping Centre Plot measuring 177.78 square yard situated in Sector G-11/1 was auctioned at the highest rate of Rs.1,90,000 per square yard. Plot No.9/B measuring 44.44 square yard located at Fruit and Vegetable Market in Sector I-11 was offered for bidding at rate of Rs.1,77,000 per square yard.
The official said on the first day 16 plots located in Sector F-11/1 and G-10/2 were offered for auction, of which plot No.227-E measuring 500 Square Yard located in Sector F-11/1 received the highest bid of Rs.45,000 per Square Yard.
Whereas Plot No.64 and 65 measuring 311 Square Yard each located in Sector G-10/2 received the lowest bid Rs.35,000 per Square Yard. The recommendations of auction committee would be submitted to CDA Board, which is the final authority for approving or disapproving any of the bids against these plots.
