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Capital Development Authority (CDA) has successfully auctioned 25 residential plots worth of Rs.1024 million (approximately) on Monday

Islamabad: April 08, 2019: Capital Development Authority (CDA) has successfully auctioned 25 residential plots worth of Rs.1024 million (approximately) on Monday. The plots were auctioned on first day of four (04) days auction held by CDA at Jinnah Convention Centre in Islamabad. The auction will continue till April 11, 2019. The auction witnessed impressive gathering of investors and general public with enthusiastic participation. On the first day of auction around 150 investors participated in the bidding process. Furthermore, 100% response was witnessed during the first day as each plot presented for bidding was successfully auctioned out. The enthusiastic response from investors is the outcome of investor friendly policies of present CDA management.

 The auction was conducted in transparent manners and proceedings were supervised by a high level Auction committee headed by Member Finance. The participants and observers appreciated the auction in which the arrangements of the CDA and auction committee conducted the auction process in an efficient, open and transparent manner.

 During the first day of auction of residential plots plot No. 201, Street No.21 of sector G-10/2 measuring 444.44 square yards (s.q) received bid Rs.85000 per square yard, plot No. 202, Street No.21, Sector G-10/2 measuring 444.44 s.q received bid Rs. 84000/- per square yard, plot No. 522, Street No.13, Sector G-10/2 measuring 356 s.q received bid Rs. 92,000/- per square yard, plot No.523, Street No.13, Sector G-10/2 measuring 356 s.q received bid Rs.107,000/- per square yard, plot No.552, Street No.13, Sector G-10/2, measuring 356 s.q received bid Rs.98,000/- per square yard, plot No.4, Street No.11-B, Sector F-10/2 measuring 555.5556 s.q received bid Rs.121,000/- per square yard, plot No.5, Street No.11-B, Sector F-10/2, measuring 555.5556 s.q received bid Rs.112,000/- per square yard, plot No.31-A, Double Road, Sector F-10/2      measuring 600 s.q received bid Rs.113,000/- per square yard, plot No.2, Street No.1-A, Sector F-10/3, measuring 600 s.q received bid Rs.113,000/- per square yard, plot No.6, Street No. 1-B, Sector F-10/3 measuring 600 s.q received bid Rs.113,000/- per square yard, plot No.8, Street No.1-B, Sector F-10/3, measuring 600 s.q received bid Rs.114,000/- per square yard, plot No.402, Street No.34, Sector F-11/2, measuring 500 s.q received bid Rs.120,000/- per square yard, plot No.403, Street No.34, Sector F-11/2 measuring 500 s.q received bid Rs.122,000/- per square yard,  plot No.404, Street No.34, Sector F-11/2 measuring 500 s.q received bid Rs. 122,000/- per square yard, plot No.405, Street No.34, Sector F-11/2  measuring 500  s.q received bid Rs.120,000/- per square yard, plot No. 703, Street No.103, Sector D-12/1 measuring 272.22 s.q received bid Rs.83,000/- per square yard, plot No.704, Street No.103, Sector D-12/1  measuring 272.22 s.q received bid Rs.84,000/- per square yard, plot No.708, Street No.103, Sector D-12/1 measuring 272.22 s.q received bid Rs. 83,000/- per square yard, plot No.709, Street No.103, Sector D-12/1 measuring 272.22 s.q received bid Rs.85,000/- per square yard, plot No. 940, Double Road, Sector D-12/1 measuring  272.22 s.q received bid Rs.90,000/- per square yard, plot No. 944, Double Road, Sector D-12/1  measuring 272.22 s.q received bid Rs.88,000/- per square yard, plot No. 945, Double Road, Sector D-12/1 measuring 272.22 s.q received bid Rs.89,000/- per square yard, plot No. 480, Street No.115, Sector D-12/1 measuring    111.11 s.q received bid Rs.107,000/- per square yard, plot No.481, Street No.115, Sector D-12/1 measuring 111.11 s.q received bid Rs.114,000/- per square yard, plot No.609, Street No.104, Sector D-12/1 measuring 111.11 s.q received bid Rs.105,000/- per square yard were auctioned.

 The income generated from the auction of residential plots will be spent on development of various sectors of Islamabad. 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 policies of authority.

 The committee will submit its recommendations to the CDA Board. The CDA Board is the competent authority to accord final approval to the recommendations after the conclusion of auction process.

Auction of residential plots will remain continue on Tuesday while commercial plots will be presented for auction on April 10th and 11th , 2019. `