10 plots to fetch Rs2.6 billion for CDA

Islamabad

The Capital Development Authority (CDA) auctioned 10 commercial plots on Tuesday.

According to CDA sources, the auctioned plots will fetch Rs2.6 billion for the civic body if the sale of these plots is materialised. The auction committee will submit its recommendations to the CDA Board, which is the final authority for approval of these auctions.

According to details, Plot No. 10, located in F-11 Markaz, measuring 888.88 square yards, received the highest bid of Rs456,000 per square yard. Whereas Plot No. 34 in Markaz G-11, measuring 1777.77 square yards, got the lowest bid at the rate of Rs181,000 per square yard.

Plot No. 34, measuring 1777.77 square yards, in Markaz G-11, was auctioned at the rate of Rs181,000 per square yard. Similarly, Plot No. 10, measuring 1244.44 square yards in Markaz I-8, received a bid of Rs239,000 per square yard. Plot No. 40-E, measuring 600 square yards in Markaz G-9, received a bid of Rs318,000 per square yard. Plot No. 26-A, Markaz G-9, measuring 1100 square yards, received a bid of Rs353,000 per square yard, while Plot No. 10, measuring 888.88 square yards, in Markaz F-11, received a bid of Rs456,000 per square yard. Plot No. 3-B (Class-III Shopping Centre), measuring 133.33 square yards in Sector F-10/3, received a bid of Rs182,000 per square yard. Plot No. 2-E, Bazaar No. 9 (Class-III Shopping Centre), measuring 150 square yards, in Sector G-11/3, received a bid of Rs195,000 per square yard. Plot No. 2-D (Class-III Shopping Centre) in Bazaar 9 of Sector G-11/3, received a bid of Rs211,000 per square yard. Plot No. 1-D, Bazaar No. 12 (Class-III Shopping Centre), Sector G-11/3, measuring 133.33 square yards, received a bid of Rs237,000 per square yard, whereas Plot No. 57-C, Blue Area (F-6/G-6), measuring 2844.44 square yards, received the bid of Rs307,000 per square yard.

The auction is being supervised by a committee headed by Member Finance Azher Ali Chaudhary, while Member Planning and Design Syed Mustafain Kazmi, Member Estate Mrs Shaista Sohail, Deputy Director General Finance Zia ur Rehman Toor, Director Estate Management-I Abid Lateef, Director Estate Management-II Muhammad Aslam Chaudhary and Deputy Director Public Relations Malik Saleem Akhtar are the members of the committee.Source: http://www.thenews.com.pk/Todays-News-6-179061-10-plots-to-fetch-Rs26-billion-for-CDA