CDA accepts 12 bids for residential, commercial plots

ISLAMABAD: The management board of the Capital Development Authority (CDA) on Thursday approved biddings for five residential plots and seven commercial plots. The biddings were received during the grand auction, held at Jinnah Convention Centre, on November 19 and 20.

The authority had arranged the two-day grand auction of residential, commercial plots, economy flats, filling stations and other plots of different sizes and categories in developed sectors of the federal capital.

Biddings were approved at a CDA board meeting, chaired by authority Chairman Syed Tahir Shahbaz.

The board also rejected eight bids as bidders had offered price lower than expected by CDA.

In residential plots category, the board accepted the bids of plot numbers 535, 536, 537, 538 and 556, all in Sector G10.

In commercial plots category, bids of seven plots, including plot no 2 and 3 meant for mid-rise economic apartments in Sector E11, Northern Strip, in Blue Area plot no 5 (falling between sectors F8/G8), plot B2 (F9/G9) and plot no B3 (F9/G9), plot no14 in Markaz D12 and plot no 20 in G11/3 (meant for economic flats) were accepted.

The CDA chairman appreciated the efforts of the auction committee for conducting successful bidding, and said that the authority would make all-out efforts for city development and provision of quality services to the residents of the federal capital.

Earlier, on the second of the grand auction, the authority had presented 10 commercial plots for bidding.

Of four plots offered for auction in the Blue Area, commercial centre, the plot no B-3, located between sectors F-9 and G-9 and measuring 1333.33 square yards, received the highest bid of Rs 360,000 per square yard.

Plot no 6 in Blue Area, located between sectors F-8 and G-8, received the lowest bid of Rs 287,000 per square yard.

The commercial plot no 15 Northern Strip E-11, measuring 2,184 square yards and allocated for filling station, received a bid of Rs 84,000 per square yard, plots no 2 and 3 of Northern Strip, measuring 4833.33 square yards and allocated for apartments, received the bid of Rs 58,000 and Rs 55,000 per square yard, respectively.

Plot number 6 of Blue Area F-8/G-8, measuring 2666.3 square yards, got the bid of Rs 313, 000 per square yard.

Plot no 14 Markaz D-12, measuring 1,600 square yards, had received the bid of Rs 136,000 per square yard whereas plot no 10 Markaz F-11, measuring 888.88 square yards, received the bid of Rs 286, 000 per square yard.
On the first day of bidding, four residential plots, measuring 272.22 square yards in Sector G-10, and six plots, measuring 355.55 square yards in the same sector, were offered for auction.

During the auction, the residential plot no 556, Sector G-10/2, measuring 355.55 square yards, had received the highest bid of Rs 51,000 per square yard.

Plot no 551 of the same size and in the same sector received the lowest bid of Rs 42,000 per square yard.

Plots no 555, 554, 553 and 552, measuring 355.55 square yards each, got the bid of Rs 44,500, Rs 46,000, Rs 46,500 and Rs 44,000 per square yard, respectively.

Source: http://www.dailytimes.com.pk/default.asp?page=2012\11\23\story_23-11-2012_pg11_5