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11 Plots worth more than 3.6 billion auctioned on First Day of three days Auction of Commercial Plots in Islamabad.

Islamabad, March 27, 2018: Capital Development Authority (CDA) has got resounding response on the first day of auction of commercial plots in Islamabad.  Authority has received bids against 11 commercial plots located in the Marakiz and different markets of various developed sectors of Islamabad worth more than 3.6 billion on Tuesday.

An eleven (11) member committee headed by Member Finance, CDA Dr. Fahad Aziz supervised the auction proceedings. Member Estate Khushal Khan, Dy.D.G (Estate), Dy.D.G(Law), Deputy Financial Advisor-II, Director Public Relations, Director (UP), Director (RP), Director Estate Management-II and Deputy Director (Finance) of CDA were the members of the committee.

The first day of the auction process was attended by a large number of people who enthusiastically participated in the auction process to get plots of their choices. The three days auction of commercial plots will be concluded on March 29, 2018.

Chairman CDA, Usman Akhtar Bajwa has expressed his pleasure over transparent and successful auction of commercial plots on the first day of the auction process said that the income from the auction of residential plots will be spent on development of various sectors of Islamabad. Chairman further said that the successful auction of a large number of plots at much higher prices on the first day of the auction process is the expression of trust by the citizens in Capital Development Authority.    

 The committee will submit its recommendations to the CDA Board being competent authority to accord final approval to the recommendations.  

On the first day of two day auction Plot #07  measuring 166.66 square yards located in F-10/3 was auctioned at Rs.765,000/- per square yard, plot No.3-H, Sector F-10/4 measuring 133.33 square yard was auctioned at 817,000/- per square yard, Plot No.1-N, measuring 133.33 square yards of Sector F-11/1 was auctioned at the rate of Rs.560,000/- per square yard,  plot No.1-O of the same markaz measuring 200 square yards was auctioned at Rs.710,000/- per square yards while plot No.05, Sector F-8/4 measuring 160 square yards was auctioned at Rs.916,000/-per square yards. Similarly, commercial plot No. 11, Sector F-6/2 measuring 160 square yard was auctioned at the rate of Rs.800,000/- per square yard. Similarly, commercial plot No.63-C for filling station, measuring 1666.66 square yards was sold at Rs.400,000/- per square yards plot No.20, Sector D-12 measuring 711.11 square yards was sold at Rs.414,000/- per square yards while plot No.20-A of same sector measuring 711.11 square yard was sold at Rs.454,000/- per square yard. Plot No.30 of Markaz I-8, measuring 1111.11 square yard was sold at Rs.770,000/- per square yard and Plot No.31 of same markaz measuring 1066.66 square yard was sold at 716,000/- per square yard.   

Auction of Commercial plots will remain continue upto March 29, 2018. On the second day commercial plots of Markaz F-11, G-11, I-8, I-12 and I-16, class-III shopping centre plots of D-12 and petrol pump plot of Park Enclave will be presented for the auction.