Capital Development Authority
Home | Contact Us
News Release Article

The first two days of the three days auction CDA has fetched Rs.6.58 billion

Islamabad: October 3, 2018: On second day of the grand auction of commercial plots, the Capital Development Authority (CDA) received a healthy response from the business community. During the second day of the three days auction CDA fetched approximately Rs.2.50 billion. In this way during the first two days of the three days auction CDA has fetched Rs.6.58 billion in total.

 

On the second day of the grand auction, CDA auctioned twelve (12) commercial plots for bidding.

 

According to details, Orchard Plot No.52, measuring 23.52 kanal located in Orchard Scheme Muree Road was auctioned at the rate of Rs.8,300,000/- per kanal while Industrial plot No.5-K, measuring 3166.66 square yards of Sector I-10/3 received the bid amounting to Rs.78,000/- per square yard, Industrial Plot No. 22, Sector I-10/3 measuring 1888.88 sqyd was auctioned at the rate of Rs.83,000/- per square yard. Similarly two plots of Auto Mobile No.01, Sector I-10/3, measuring 111.11 sqyd was auctioned at the rate of Rs.350,000/- per square yard and plot No. 02, Sector I-10/3, measuring size 111.11 sqyd was bid out at Rs.330,000/- per square yard, Diplomatic Enclave Markaz, plot No.17-G measuring size 416.66 sqyd was bid out at Rs.670,000/- per square yards, Plot No.28, G-11 Markaz measuring 711.11 sqyd was bid out at Rs.570,000/- per square yard, Plot No.19-A, I-9 Markaz, measuring size 360 sqyd was auction Rs.222,000/-. Therefore, plot No.25-A, G-11/1 (Apartments), measuring size 4500 sqyd was auctioned Rs.132,000/- per square yard, plot No.05-L, sector I-10/3 measuring size 3166.66 was auctioned at the rate of Rs.85,000/- per square yard. Plot No.5-J (Class-III Shopping Centre), Sector G-11/3, measuring size 133.33 was bid out at Rs.500,000/- per square yard and plot No.4-M (Community Core), sector H-8/2 measuring size 266.66 sqyd was bid out at Rs.520,000/- per square yard.

Although today 12 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 last day of auction.

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

The auction committee would submit its recommendations to the CDA Board, which is the final Authority for approval of these auctions.

 

The auction of commercial plots will be concluded on October 4, 2018.