Daily Times

ISLAMABAD: The Capital Development Authority (CDA) has earned around 2.2 billion rupees by auctioning 11 commercial plots located in the Marakiz of various developed sectors of the capital. The plots were auctioned by civic authority in Pak-China Friendship Canter in a well attended function that earned a good amount to the body.

According to details, on first day of the auction of commercial plots the CDA has received bids against 11 commercial plots located in the Marakiz of the developed sectors worth around 2.2 billion rupees. An eleven member auction committee jointly headed by Member Finance and Member Planning supervised the auction process. Member Environment, Deputy Director General Land and Estate, Deputy Director General Finance, Deputy Director General Law, Director Public Relations, Director Estate Management-I, Director Urban Planning, Director Estate Management-II and Director Regional Planning were the members of the committee.

The first day of the auction process was attended by a considerable number of people, who enthusiastically participated in the auction process to get their favourite plots. The auction of commercial plots will remain continue today.

On the first day of the two day auction plot no 2 measuring 1600 square yards located in Markaz D-12 was auctioned at Rs. 275,000/-, petrol pump plot measuring 1833.33 square yard was auctioned at Rs.190,000/- per square yard, Plot No 15 measuring 1600 square yards of Markaz D-12 was auctioned at the rate of Rs. 282,000/- per square yard, plot No 32 of the same markaz measuring 711.11 square yards was auctioned at Rs.307,000/- per square yards while plot No. 32-A measuring 711.11 square yards was auctioned at Rs.323,000/-per square yards. Similarly, commercial plot No. 8, 9, 10, 29 and 30 each measuring 266.66 square yard were auctioned at the rate of Rs. 255000/- 265000/-,278,000/-,219000/- and 280,000/- per square yard respectively. Similarly, commercial plot no 3-K measuring 1066.66 square yards was sold at Rs. 146000/- per square yards.

Chairman CDA, Maroof Afzal while expressing his pleasure over transparent and successful auction of commercial plots on the first day of the auction process said that the income from the auction of residential plots will be spent on development of various sectors of Islamabad. Particular attention has been paid to the preservation of green areas in the residential sectors to maintain the balance between residential and green areas, the Chairman added. 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 is the expression of trust by the citizens in Capital Development Authority. CDA will use all available resources for development of sectors and provision of civic amenities to the residents.

The auction committee will submit its recommendations to the CDA Board. The CDA Board is the competent authority to accord final approval to the recommendations. Auction of Commercial plots will remain continue on April 27, 2016. 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 the auction.

While talking to the Daily Times a real estate businessman on the condition of anonymity said; “in my view the CDA has received more prices as compare to last auction as for instance the plot in D-12 Markaz has gone on the price of Rs. 300,000 per square yard, whereas the plots of similar nature were sold out in last auction on Rs. 270,000 per square yard.” He further criticised on CDA management and said; “the authority can receive more high bids by doing little effort and making the process professional.”