ISLAMABAD - The city managers are expecting to generate revenue of Rs1450 million from the two-day open auction of commercial and residential plots across the Federal Capital. Earlier, a senior official of the Authority has termed this expected revenue as 'would be a life injection for the cash-starved civic body. At the time of announcement of 'realistic budget of CDA for the fiscal year 2010-11 the incumbent Chairman of the Authority had declared the land as an ornament of the civic agency besides assuring that the Authority would find new means of earning despite relay on land selling. And to strengthen this approach the Authority for the ongoing financial year 2010-11 estimated revenue of Rs11,421.590 million by auctioning/allotment of residential, commercial plots and others contrary to the Rs21,302 million in previous fiscal year 2009-10. However, during the year 2010 CDA held two open auctions of residential, orchard and commercial plots, first in May 2010 and second one in August 2010 and this one would be the third one. CDA at the end of the two-day open auction in the month of May 2010 received bids worth Rs1.57 billion against 16 commercial, industrial and orchard plots, while it also fetched bid of Rs244.23 million against 21 residential plots. Similarly, at the end of two-day open auction in the month of August 2010, the Authority received bids worth Rs 1518 million against commercial plots and class-III shopping malls, and bid of Rs171 million against 13 residential plots. Auction will be held on December 28th and 29th in the Community Centre Aabpara, the information regarding the auction can be obtained from CDA office Islamabad and CDA website. The auction of residential plots in sector D-12, F-11, G-10 and flats in I-8 sector will be held on December 28th. The auction of the commercial plots in D-12, F-10, F-11, G-11, I and T, G-10, class three shopping centre in G-11, green cloth market in I-11/3 and fruit vegetable market in I-11/4 will be held on December 29th. The Auction Committee of the CDA headed by Member Finance of the Authority and comprising of Member (Estate), Member (Planning & Design) and Directors of the concerned formations are supervising the auction process. The recommendation of auction committee would be submitted to CDA Board, which is the final authority for approving or disapproving any of the bids against these plots. The auction of residential and commercial plots is open for general public including Pakistanis living abroad, who can participate in the auction for their desired plots.