CDA closes its planned 3-day land auction on day 2 after all 43 residential plots it was presenting sold out. PHOTO: FILE
ISLAMABAD:
The Capital Development Authority (CDA) on Thursday was able to close its planned three-day land auction on day two after all 43 residential plots it was presenting sold out.
On Thursday, the authority received bids worth Rs600 million for 23 residential plots in Sector G-10. On Wednesday, the civic agency had received bids of Rs1.35 billion for 20 residential plots. That left nothing behind to auction off on Friday. Collectively, the CDA attracted bids amounting to Rs1.94 billion for 43 residential plots.
Of the 23 residential plots in Sector G-10/2, each measuring 355.55 square yards, the highest bif was of Rs82,000 per square yard, while five plots received the lowest bids of Rs 70,000 per square yard bid.
The CDA board will meet on Friday to discuss the bids. The auction committee has already submitted its recommendations.
Published in The Express Tribune, May 30th, 2014.
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