CDA raises Rs2.5b by selling 12 plots
Authority sells twice as many plots for half the price
Authority sells twice as many plots for half the price PHOTO: EXPRESS
ISLAMABAD:
The civic body on Wednesday auctioned off 12 commercial plots in the federal capital for around Rs2.5 billion.
This raises the total money raised by the authority to over Rs6 billion, having sold a total of 19 plots so far in the three-day auction.
Organised by the Capital Development Authority (CDA) at the Jinnah Convention Centre, as many as 57 plots of different classifications are up for grabs.
The plots sold on Wednesday include a 2.94 acre (23.52 kanals) agro-farm in the Orchard Scheme along Murree Road. It fetched a price of Rs195 million at a rate of Rs8.3 million per kanal.
A 3,166.66 square yards industrial plot in Sector I-10/3 was sold for Rs246 million at a rate of Rs78,000 per square yards.
Industrial plot 22, measuring 1,888.88 square yards, was sold for Rs156.777 million at a rate of Rs83,000 per square yards.
The two plots for automobile-related businesses, each measuring 111.11 square yards, were sold for Rs38.89 million and Rs36.67 million respectively, at rates of Rs350,000 and Rs330,000 respectively.
The CDA also sold plots in the commercial sector of the Diplomatic Enclave. Plot 17-G, measuring 416.66 square yards, was sold for Rs279.16 million at a rate of Rs670,000.
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Commercial plot 28 in Sector G-11 Markaz, measuring 711.11 square yards, was sold for Rs405.33 million at a rate of Rs570,000 per square yards.
In Sector I-9 Markaz, plot 19-A measuring 360 square yards, was sold for Rs79.92 million at a rate of Rs222,000 per square yards.
The 4,500 square yards Plot 25-A in the Sector G-11/1 — allotted for construction of an apartment block — fetched a price of Rs594 million at a rate of Rs132,000 per square yards.
Industrial plot 5-L in Sector I-10/3, measuring 3,166.66 square yards, fetched a price of Rs269.166 million at a rate of Rs85,000 per square yards.
In class-III shopping centres, plot 5-J in Sector G-11/3, measuring 133.33 square yards, fetched a price of Rs66.665 million at a rate of Rs500,000 per square yards.
On Tuesday, the CDA had auctioned seven commercial plots which fetched it Rs3.625 billion.
Commercial plot 4-M in the Community Core in Sector H-8/2, measuring 266.66 square yards, fetched a price of Rs138.663 million at a rate of Rs520,000 per square yards.
The CDA has put up 57 plots up for grabs. These include 14 in the commercial shopping centres (markaz), 13 in class-III shopping centres, seven commercial plots in the coveted Blue Area, three apartment high-rises in the Diplomatic Enclave and Sector G-11/1, two fuel pumps, a hospital in Sector G-11, an agro-farm in Orchard Scheme along Murree Road, seven industrial plots, and two plots for car showrooms.
Published in The Express Tribune, October 4th, 2018.
The civic body on Wednesday auctioned off 12 commercial plots in the federal capital for around Rs2.5 billion.
This raises the total money raised by the authority to over Rs6 billion, having sold a total of 19 plots so far in the three-day auction.
Organised by the Capital Development Authority (CDA) at the Jinnah Convention Centre, as many as 57 plots of different classifications are up for grabs.
The plots sold on Wednesday include a 2.94 acre (23.52 kanals) agro-farm in the Orchard Scheme along Murree Road. It fetched a price of Rs195 million at a rate of Rs8.3 million per kanal.
A 3,166.66 square yards industrial plot in Sector I-10/3 was sold for Rs246 million at a rate of Rs78,000 per square yards.
Industrial plot 22, measuring 1,888.88 square yards, was sold for Rs156.777 million at a rate of Rs83,000 per square yards.
The two plots for automobile-related businesses, each measuring 111.11 square yards, were sold for Rs38.89 million and Rs36.67 million respectively, at rates of Rs350,000 and Rs330,000 respectively.
The CDA also sold plots in the commercial sector of the Diplomatic Enclave. Plot 17-G, measuring 416.66 square yards, was sold for Rs279.16 million at a rate of Rs670,000.
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Commercial plot 28 in Sector G-11 Markaz, measuring 711.11 square yards, was sold for Rs405.33 million at a rate of Rs570,000 per square yards.
In Sector I-9 Markaz, plot 19-A measuring 360 square yards, was sold for Rs79.92 million at a rate of Rs222,000 per square yards.
The 4,500 square yards Plot 25-A in the Sector G-11/1 — allotted for construction of an apartment block — fetched a price of Rs594 million at a rate of Rs132,000 per square yards.
Industrial plot 5-L in Sector I-10/3, measuring 3,166.66 square yards, fetched a price of Rs269.166 million at a rate of Rs85,000 per square yards.
In class-III shopping centres, plot 5-J in Sector G-11/3, measuring 133.33 square yards, fetched a price of Rs66.665 million at a rate of Rs500,000 per square yards.
On Tuesday, the CDA had auctioned seven commercial plots which fetched it Rs3.625 billion.
Commercial plot 4-M in the Community Core in Sector H-8/2, measuring 266.66 square yards, fetched a price of Rs138.663 million at a rate of Rs520,000 per square yards.
The CDA has put up 57 plots up for grabs. These include 14 in the commercial shopping centres (markaz), 13 in class-III shopping centres, seven commercial plots in the coveted Blue Area, three apartment high-rises in the Diplomatic Enclave and Sector G-11/1, two fuel pumps, a hospital in Sector G-11, an agro-farm in Orchard Scheme along Murree Road, seven industrial plots, and two plots for car showrooms.
Published in The Express Tribune, October 4th, 2018.