The Capital Development Authority (CDA) sold more valuable plots in the capital city in order to overcome its liabilities, including gas and electricity bills, whose non-payment had resulted in discontinuation of supply to the civic body.
A press statement issued on Tuesday stated that the CDA received a major response during the auction of plots of different categories on the second consecutive day of bidding , which was successfully conducted here at Aabpara Community Centre.
The CDA auctioned 12 commercial plots, out of which three plots of different sizes are located in Sector F-7, G-11 and I-8 Markaz, whereas eight plots of different sizes including Class-III Shopping Centre and plots located in Grain, Cloth, F&V Market in Sector I-11 and IT Centre. The authority hopes to earn around Rs1.45 billion from this auction.
The auction was supervised by CDA Member Finance Saeedur Rehman, who termed the two-day auction ‘a success’ and expressed hope that the prices of real estate would further rise in the near future.
The recommendations of the auction committee will be submitted to the CDA Board, which is the final authority for approving or disapproving any of the bids. The Board comprises of the Estate and Planning & Design Member Tahir Shamshad, Engineering Member Abdul Jabbar Malano, one window operation deputy director general, estate management-I director, estate management-II director, public relations director and accounts director.
Published in The Express Tribune, June 1st, 2011.
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