ISLAMABAD - The Capital Development Authority (CDA) exceeded its budgeted figure by approximately Rs 1.5 billion on Tuesday, it had estimated under the head of generation of revenue through sale of commercial plots, after it received bids worth approximately Rs 910 million against five commercial plots.

According to budget document for the fiscal year 2011-12, the authority has estimated generation of Rs 1 billion from sale of commercial plots through open auction under the head of self-financing account.

On July 21, 2011, during the first open auction of fiscal year 2011-12, the CDA had earned Rs 1.58 billion by disposing of six commercial plots through open auction in developed sectors.

While during second open auction for the year, CDA has received bids worth approximately Rs 910 million.

Collectively, the authority has generated Rs 2.5 billion through the practice of sale of commercial plots in the capital through open auction, exceeding by Rs 1.5 billion from its own settled figure. Sale of plots remained the biggest source of money generation for the authority; however, it happened rarely that authority crosses the fixed figure.