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Capital Development Authority (CDA) managed to fetch Rs.1254 million from first 2 Days of Auction

Islamabad: April 09, 2019: Capital Development Authority (CDA) fetched Rs.1254 million from the auction of residential plots. During the first two days, 31 out of 38 residential plots were auctioned. Auction of commercial plots in different developed sectors of Islamabad will be held on April 10, 2019 and April 11, 2019.

During the second day of auction, six (06) residential plots were auctioned Rs. 230 million while on the first day of auction of residential plots 25 residential plots were sold out for Rs.1024 million.

 

Auction was managed and conducted in a well organized, open and transparent and received a very favourable response from public at large. The auction proceedings were supervised by the auction committee headed by the Member Finance of the authority.

 

The auction witnessed impressive gathering of investors and general public with enthusiastic participation. During the auction of residential plots 82% of the total plots were bid out which is 40-45 % higher than the previous auction’s results.  The enthusiastic response from investors is the outcome of investor friendly policies of present CDA management.

 

During the second day of auction of residential plots plot No.311, Street No.17 of sector D-12/3 measuring 500 square yards (s.q) received bid Rs.76000 per square yard, plot No. 312, Street No.17, Sector D-12/1 measuring 500 s.q received bid Rs.75000/- per square yard, plot No.26, Street No.25, Sector G-10/2 measuring 444.44 s.q received bid Rs.83,000/- per square yard, plot No.27, Street No.25, Sector G-10/2 measuring 444.44 s.q received bid Rs.82,000/- per square yard, plot No.28, Street No.25, Sector G-10/2, measuring 444.44 s.q received bid Rs.84,000/- per square yard, plot No.183-D, Street No.21, Sector F-11/2 measuring 400 s.q received bid Rs.110,000/- per square yard, were auctioned.

 

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 commercial plots will be presented for auction on April 10th and 11th, 2019. `