ISLAMABAD: Capital Development Authority (CDA) has received a resounding response on the first day of auction of commercial plots in Islamabad.
The authority has received bids against 11 commercial plots located in the marakiz and different markets of various developed sectors of Islamabad worth more than Rs 3.6 billion on Tuesday.
An 11 member committee headed by CDA Finance Member Dr Fahad Aziz supervised the auction proceedings. CDA Estate Member Khushal Khan, Estate director general, Law DG, deputy financial adviser, public relations director were some of the members of the committee.
The first day of the auction process was attended by a large number of people who enthusiastically participated in the auction process to avail plots of their choices. The three days auction of commercial plots will conclude tomorrow (Thursday).
CDA Chairman Usman Akhtar Bajwa has expressed his pleasure over transparent and successful auction of commercial plots on the first day of the auction process and said that the income from the auction of residential plots will be spent on development of various sectors of Islamabad. The chairman further said that the successful auction of a large number of plots at much higher prices on the first day of the auction process was the expression of trust by the citizens in CDA.
The committee will submit its recommendations to the CDA board being competent authority to accord final approval to the recommendations.
On the first day of two-day auction, plot #07 measuring 166.66 square yards located in F-10/3 was auctioned at Rs 765,000 per square yard, plot #3-H, Sector F-10/4 measuring 133.33 square yard was auctioned at Rs 817,000 per square yard, plot #1-N, measuring 133.33 square yards of Sector F-11/1 was auctioned at the rate of Rs 560,000 per square yard, plot #1-O of the same markaz measuring 200 square yards was auctioned at Rs 710,000 per square yards while plot #5, Sector F-8/4 measuring 160 square yards was auctioned at Rs 916,000 per square yards. Similarly, commercial plot #11, Sector F-6/2 measuring 160 square yard was auctioned at the rate of Rs 800,000 per square yard. Commercial plot #63-C for filling station, measuring 1,666.66 square yards was sold at Rs 400,000 per square yards.
Plot #20, Sector D-12 measuring 711.11 square yards was sold at Rs 414,000 per square yards while plot #20-A of same sector measuring 711.11 square yard was sold at Rs 454,000 per square yard. Plot #30 of Markaz I-8, measuring 1,111.11 square yards was sold at Rs 770,000 per square yard and Plot #31 of same markaz measuring 1,066.66 square yard was sold at 716,000 per square yard.
On the second day, commercial plots of Markaz F-11, G-11, I-8, I-12 and I-16, class-III shopping centre plots of D-12 and petrol pump plot of Park Enclave will be presented for auction.
Published in Daily Times, March 28th 2018.