Bidding: Civic authority auctions six commercial plots

ISLAMABAD:

The Capital Development Authority (CDA) sold six of its seven plots put up for auction at a local hotel here on Thursday.

According to a press released issued by the CDA directorate, six plots of varied sizes located in commercial centres of sectors F-6, F-7, F-8, G-11 and F-11 were sold to the highest bidders. However Plot No1-D, situated in F-7 Markaz, was withdrawn from auction due to legal complications.

Plot No24 measuring 711.11 square yards in F-6 Markaz fetched the highest bid of Rs433,000 per sq yard. Plot No 27 measuring 844.44 sq yards in F-11 Markaz was auctioned at Rs355,000 per sq yard; Plot No13-G measuring 666.66 sq yards in F-8 Markaz for Rs275,000 per sq yard; Plot No8 measuring 1777.77 sq yards in G-11 Markaz for Rs141,000 per sq yard; Plot No33 in G-11 Markaz measuring 1777.78 for Rs124,000 per sq yard; while Plot No5 measuring 3333.33 sq yard in F-11 Markaz was auctioned for establishment of a hospital at Rs95,000 per sq yard.

The recommendations of auction committee will be submitted to CDA Board, which is the final authority for approving or disapproving any of the bids against the auctioned plots.

Published in The Express Tribune, July 22^nd, 2011.