ISLAMABAD: The Capital Development Authority (CDA) has earned about Rs6 billion in two days by auctioning residential and commercial plots.
A ten-member auction committee, headed by Member Finance Arbab Sher Bahadar, supervised the auction process. Member Planning and Design Waseem Ahmed Khan, Land and Estate director general, deputy financial advisor, deputy director general law, Public Relations director, Estate Management I director, Urban Planning director, Estate Management II director and One Window Operations director are the members of the committee.
14 commercial plots of different sizes in the developed sectors, Industrial Area, Markiz and Blue Area were auctioned at the record prices and fetched Rs5264million.
Number of investors enthusiastically participated in the auction process and offered record prices of residential and commercial plots showing their confidence in the authority’s commitment towards deliverance of services.
Commercial plot number 2 of Markaz F11 measuring 1500 square yards was auctioned at the price 79,000/- per square yard, while plot number 2A and 11 of Markaz F11 measuring 1,666.67 and 888.88 square yards were auctioned at the prices of Rs 251,000/ and 492,000/ per square yard. Similarly plot number C2 of Blue Area measuring 1,333.33 square yards received the bid of Rs 721,000/ per square yard, plot number C3 of Blue Area measuring 1,333.33 square yards, and was auctioned at the price of Rs 705,000/. Plot number C25 of Markaz G10 measuring 416.66 square yards was auctioned at the price of Rs 246,000/ per square yard. Similarly, plot number 29 and 30 of Markaz G11 each measuring 711.11 square yards were auctioned at prices of Rs 356,000/ and 404,000/ respectively, while plot number 18 of Markaz G11 measuring 4,100 square yards was auctioned at the price of Rs 115,000/ per square yard. Plot number 16 measuring 1,066.00 square yards of Markaz I8 received the bid of Rs 311,000/ per square yard while plot no 2B of I9 Markaz measuring 415.25 square yards was offered a bid of Rs 210,000/ per square yard. Plot number 10 of sector I11/4 measuring 4,363.33 square yards was auctioned at the price of Rs 36,000/- per square yard. Plot number 4 and 6 of I J Principal Road each measuring 222 square yards were auctioned at the prices of Rs 115,000/ and 120,000/per square yard.
The auction committee will place its recommendations before CDA Board, which is the competent forum for the approval or rejection of the bids.
CDA chairman while appreciating the auction committee for conducting a successful auction said that the first auction of year 2015 received a resonant response from the investors particularly the business community, which is expression of trust in the policies of the authority.
