Islamabad-The Capital Development Authority (CDA) on Wednesday fetched further Rs 2.5 billion on the second day of auction of commercial plots in different sectors of the city.
The CDA received a healthy response from the business community. During the second day of the three-day auction, CDA fetched approximately Rs.2.5 billion. In this way, CDA fetched Rs.6.58 billion in total during the first two days of the three days auction.
According to the CDA, on the second day of auction, the authority auctioned 12 commercial plots. 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 in sector I-10/3 received the bid of Rs.78,000 per square yard. Similarly, industrial plot No. 22 in sector I-10/3 measuring 1888.88 square yards was auctioned at the rate of Rs.83,000 per square yard. Similarly a plot of auto mobile No.01 in sector I-10/3 measuring 111.11 square yards was auctioned at the rate of Rs.350,000 per square yard and plot No. 02 in sector I-10/3 measuring 111.11 square yards was bid out at Rs.330,000 per square yard. Diplomatic Enclave Markaz plot No.17-G measuring 416.66 square yards was bid out at Rs.670,000 per square yard, plot No.28, G-11 Markaz measuring 711.11 square yards was bid out at Rs.570,000 per square yard, plot No.19-A in sector I-9 Markaz measuring 360 square yards was auctioned at the rate of Rs.222,000. Plot No.25-A in sector G-11/1 (Apartments) measuring 4500 square yards was auctioned at Rs.132,000 per square yard, plot No.05-L in sector I-10/3 measuring 3166.66 square yards was auctioned at the rate of Rs.85,000 per square yard. Similarly, plot No.5-J (Class-III Shopping Centre) in sector G-11/3 measuring 133.33 square yards was bid out at Rs.500,000 per square yard and plot No.4-M in sector H-8/2 measuring 266.66 square yards was bid out at Rs.520,000 per square yard. The CDA had, on the first day of the auction of commercial plots recieved resounding response. The Authority had received bids against 7 commercial plots located in various developed sectors of Islamabad worth Rs.4.07 billion on Tuesday.
An 11-member Auction Committee headed by Financial Advisor /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. On the first day of auction, plot No. 19 in sector I-9 Markaz (360 Sq.yd) was auctioned at Rs.81,720,000, plot No 9-A in sector I-10 Markaz (577.77 square yards) was auctioned against Rs.304,484,790, plot No.9-B in sector I-10 Markaz (577.77 square yards) was auctioned for Rs.283,685,070, plot No.57-A in Blue Area / sector F-6 (2844.44 square yards) fetched Rs.2,631,107,000, plot No.63-C in Blue Area sector F-7 (1711.1 square yards) meant for filling station fetched Rs.49.933,010, industrial plot (No.42-C) in sector I-9/2 (1105.88 square yards) fetched Rs.100,635,080 and industrial plot No.21 in sector I-10/3 (1888.88 square yards) fetched a total of Rs.173,776,960.
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.
