Islamabad - The Capital Development Authority has auctioned six commercial plots in developed sectors against Rs 1.81 billion collectively as two-day auction began here at Jinnah Convention Centre yesterday.

The auction proceedings are being supervised by auction committee headed by Member Environment Syed Mustafain Kazmi, with deputy director general finance, deputy director general (law), deputy director general (land and estate) and directors of public relations, estate management-II and urban planning as its members.

On the first day, the commercial plot number 20, measuring 711.11 square yards located in G-11 Markaz secured the highest bidding at the rate of Rs 574,000 per square yard, while commercial plot measuring 500 square yards was auction at the rate of Rs 465,000 per square yard. Plot measuring 1,600 square yards situated in Sector D-12 was bid out at a rate of Rs 271,000 per square yard. Plot situated in Sector D-12 measuring 711.11 square yards was auctioned at the rate of Rs 251,000 per square yard. A plot meant for petrol pump situated in Sector I-11/4 measuring 1955.55 square yards was auctioned at the rate of Rs 183,000 per square yard. While a plot measuring 4033.33 square yards situated in Industrial Area I-10/3 was auctioned at the rate of Rs 51,000 per square yard. On the day first of the two-day auction, six commercial plots worth Rs 1.81 billion were successfully auctioned. The auction will continue today, in which commercial plots in the developed sector of Islamabad would be offered for open auction. Separately, the CDA said Park Enclave Housing Scheme will be completed promptly with special focus on making it an environment-friendly project. These views were expressed by the Chairman CDA Maroof Afzal during his visit to the CDA’s housing project, Park Enclave.

The chairman was briefed about the progress of ongoing development work in Park Enclave. He was apprised that development work on Park Enclave is in full swing, adding that all available resources including manpower and heavy machinery are being utilised to complete the dream housing project well in time.