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Bids worth Rs.4.07 billion received against 07 commercial plots on first day of CDA auction

First day of auction 2018 at Convention Centre Islamabad

Islamabad: October 02, 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 seven (07) commercial plots located in various developed sectors of Islamabad worth Rs.4.07 billion on Tuesday.

A 11 member Auction Committee headed by Financial Advisor (F.A) / Member is supervising the auction process as Chairman of the Committee. Member, Planning and Design, Member Estate, Deputy Director General Law, Director Public Relations, Deputy Financial Advisor-II, Director Estate Management II, Director Regional Planning, Director Housing Societies, Director Urban Planning and Deputy Director Costing, CDA are 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 their favorite plots.

On the first day of three days auction, Plot No. 19, I-9 Markaz (360 Sq.yd) amounting to Rs.227,000/- per square yard which total amounting to Rs.81,720,000/-, Plot No.9-A, Sector I-10 Markaz (577.77 Sq.yd) Rs.527,000/- per square yards which total is Rs.304,484,790/-, Plot No.9-B, I-10 Markaz (577.77 Sq.yd) auctioned Rs.491,000 per square yard which total amount is Rs.283,685,070/-, Plot No.57-A, Blue Area / F-6 (2844.44 Sq.yd) amounting to Rs.925,000/- per square yard which total is Rs.2,631,107,000/- were auctioned. Similarly, Plot No.63-C, Blue Area/F-7 (1711.1 Sq.Yd) amounting to Rs.291,000/- per Square Yard which total is Rs.49.933,010/- for filling Station, Industrial Plot No.42-C, Sector I-9/2 (1105.88 sq.yd) amounting to Rs.91,000/- per sq.yd which total is Rs.100,635,080/- and Industrial Plot No.21, Sector I-10/3 (1888.88 sq.yd) amounting to Rs.92,000/- per square yard which total is Rs.173,776,960/- were auctioned.

Although today seven commercial plots are auctioned after multiple bids, which show a better response given by the participants who attended this auction but it is expected more enthusiasm will be increased in the remaining days of auction.

The Auction Committee will submit its recommendations to the CDA Board. The CDA Board is the competent authority to accord final approval to the recommendations.