Going, going gone: CDA makes Rs2.6b as 12 plots go under the hammer

Grand auction of ciommercial plots has put over Rs6.4b in authorities coffers

ISLAMABAD: On second day of the grand auction of commercial plots, the Capital Development Authority (CDA) received a healthy response from the business community as a dozen plots went under the hammer against total bids of Rs2.6 billion.

During the second day of the three days auction, CDA fetched approximately Rs2.76 billion. In this way during the first two days of the three days auction, CDA has fetched Rs.6.4 billion in total.

On the second day of the grand auction, CDA offered 12 commercial plots for bidding.



According to CDA, Plot No17-D, measuring 566.66 square yards located in Diplomatic Enclave Markaz was auctioned at the rate of Rs626,000 per square yard while plot No17-F measuring 416.66 square yards of Diplomatic Enclave Markaz received the bid amounting to Rs722,000/ per square yard. Similarly, plot No36 of Markaz G-11 measuring size 3,733.33 square yards was bid out at Rs180,000 per square yard. Plot No20 measuring 3861.11 square yards located in G-11/3 received a bid of Rs130,000 per square yard. Plot No3-G measuring 133.33 square yards located in sector G-10/3 got a bid of Rs712,000 per square yard. Plot No1-J located in sector G-11/1 measuring 177.77 square yards was bid out at Rs575,000 per square yard. Plot No5-I of sector G-11/3 and plot no 6-A of sector G-11/4 measuring size 133.33 was auctioned at Rs485,000 per square yards each. Plot No1028 of sector I-8/4, IJP Road measuring size 1155 square yards received the bid of Rs256,000 per square yard. Similarly, plot No4-N measuring 266.66 square yards of H-8/2 Community Core, was auctioned for Rs520, 000 per square yard while plot No7-G of Community Core Sector H-11/4 measuring size 266.66 square yard was auctioned at Rs281,000 per square yard. Similarly, plot No1-F of Sector I-8/2, measuring size 200 square yard was auctioned for Rs475,000 per square yard.

The auction committee would submit its recommendations to the CDA Board, which is the final Authority for approval of these auctions.

An 11-member committee headed by Member Finance, CDA Dr Fahad Aziz supervised the auction proceedings. Member Estate Khushal Khan, Dy DG (Estate), DyDG (Law), Deputy Financial Advisor-II, Director Public Relations, Director (UP), Director (RP), Director Estate Management-II and Deputy Director (Finance) of CDA were the members of the committee.

The auction of commercial plots will be concluded on March 29, 2018.

Published in The Express Tribune, March 29^th, 2018.