ISLAMABAD-The Capital Development Authority failed to get desired results on the first day of auction as out of total 15 plots presented on Tuesday, only 4 plots could be auctioned.
Though, the city managers get a revenue of Rs.7.74 billion by selling 4 plots but about seventy percent plots could not get desired price due to ongoing political and economic situation of the country.
Besides, five plots were also dropped from the list and they were not included in auction including two hotel plots, two petrol pump plots and a farmhouse plot. 
The hotel plots were dropped because they were included in the list subject to the approval from federal government but same could not be solicited on time while petrol pump plots were planned in the right of the way of newly constructed Bara Kahu Bypass but they were dropped as the authority is considering to give proper service areas instead of pumps alone. 
On the other side, an agro plot was not included in the auction as there was a litigation over it and it has been decided to proceed further after getting clearance from the court.
The four-day auction of plots will continue till October 20 at the Jinnah Convention Centre. 
According to details, on the first day of auction of residential and commercial plots, plot # 53F measuring 666.67 square yards located in I-8 Markaz was auctioned for one billion 42 lac rupees.  
Similarly, Plot No. 53D measuring 666.67 square yards located in I-8 Markaz was auctioned for one billion and 90 million rupees.
Similarly, Plot No. 28 of 711.11 square yards located in G-11 Markaz was auctioned for Rs.1.16 billion. Plot number 8 of 2666.66 square yards of Blue Area was auctioned for Rs4.45 billion. Thus, on the first day of the auction, four plots were auctioned for Rs7.743 billion. The auction of plots will remain continue on October 18, 19 and 20. 
Residential and commercial plots of different categories are being offered for investment in the four-day auction of plots.  In the auction, plots of various marakaz, Blue Area and E-11 Northern Strip are being auctioned.
Park Enclave Commercial, Class III Shopping Centers, Agro Farms, Apartments and Industrial plots will be offered for auction in the 4-day auction. Similarly, the plots of fruit, vegetable and meat shops and I-11 markets will also be also presented for auction, while for the first time the plots allocated for hostels will be offered for auction. Residential plots will also be auctioned in the auction of plots.
The auction is being supervised by the auction committee headed by  Member Estate. The bids received after thorough scrutiny will be placed before the CDA Board, which is the competent forum to accept or reject the bids.