Auction of commercial plots: CDA board accepts bids in meeting
The transactions will bring Rs1.578 billion to the civic authority.
ISLAMABAD:
The Capital Development Authority (CDA) Board Friday accepted the bids for all six commercial plots put up for auction on Thursday. These plots are located in commercial centres of F-6, F-7, F-8, G-11 and F-11.
The transactions will fetch CDA Rs1.578 billion; 40 per cent of the amount will be deposited upfront as down payment. A 711.11 square yards plot in F-6 markaz fetched the highest bid of Rs433,000 per square yard.
The recommendations of auction committee were submitted on Friday to CDA Board, which is the final authority for approving or disapproving any of the bids against the auctioned plots. Chairperson CDA, Imtiaz Inayat Elahi presided over the meeting. All members of the CDA Board and officers of the concerned formations of the authority were also present on this occasion.
Published in The Express Tribune, July 23rd, 2011.
The Capital Development Authority (CDA) Board Friday accepted the bids for all six commercial plots put up for auction on Thursday. These plots are located in commercial centres of F-6, F-7, F-8, G-11 and F-11.
The transactions will fetch CDA Rs1.578 billion; 40 per cent of the amount will be deposited upfront as down payment. A 711.11 square yards plot in F-6 markaz fetched the highest bid of Rs433,000 per square yard.
The recommendations of auction committee were submitted on Friday to CDA Board, which is the final authority for approving or disapproving any of the bids against the auctioned plots. Chairperson CDA, Imtiaz Inayat Elahi presided over the meeting. All members of the CDA Board and officers of the concerned formations of the authority were also present on this occasion.
Published in The Express Tribune, July 23rd, 2011.