Auction getting resounding response: CDA

Commercial and residential plots invite interest.

ISLAMABAD:

The Capital Development Authority (CDA) got a resounding response from the public on the first day of the grand auction on Monday at the Aabpara Community Centre, said a press release.

The authority is anticipating an earning of Rs358.2 million when the auction of the residential plots matures after getting the nod of the CDA Board. On the first day of the grand auction, CDA offered 23 residential plots for bidding at Aabpara Community Centre.

The two-day auction announced by the Capital Development Authority is meant for residential as well as commercial plots and would continue from 10:00am to 4:00pm on Tuesday as well.

On the first day, CDA offered 10 plots for bidding in sector F-11/1 and F-11/2. Out of these, plot No.228-C measuring 500 square yards received the highest bid of Rs55, 000 per square yard. Plot No.153 of street number 24, measuring 400 square yards, got the lowest bid of Rs40,500 per square yard in sector F-11.

The civic agency also offered nine plots located in sector G-10/2 for auction, out of which plot No.102-B measuring 233 square yards received the highest bid of Rs47, 000 per square yard. Plot No. 68, measuring 311 square yards received the lowest bid of Rs37,500 per square yard in the sector.

During the auction of two plots measuring 355 square yards each were offered for auction in sector D-12/3 and one each in F-10/2 and G-10/3, out of which plot No.224 of G-10/3 got the highest bid of Rs50, 000 per square yard.

This auction is being supervised by a committee headed by Saeedur Rehman Member Finance, while Tahir Shamshad, Member Estate and Planning, Abdul Jabbar Malano and other officials are part of the committee overseeing the process. A large number of people participated in the auction on the first day.

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

Published in The Express Tribune, May 31^st, 2011.