ISLAMABAD - The Capital Development Authority (CDA) is set to auction 62 residential and commercial plots on Monday as preparations for the two-day bidding have been finalised.

The auction will be held at Jinnah Convention Centre on March 25 and 26. Addressing a review meeting held here in this regard recently, CDA Chairman Syed Tahir Shahbaz said that the auction of residential and commercial plots would not only consolidate the financial position of authority but also provide an opportunity to the people to construct houses and establish businesses in the federal capital.

The plots to be auctioned, are located in the developed sectors, he added. The CDA Chairman said to ensure transparency in auction, a high level committee headed by Member Finance Azhar Ali Chaudhry had been formed. The committee comprised Member Planning and Design Syed Mustafain Kazmi, Member Estate Shaista Sohail, Deputy Director General Finance, Director Estate Management-I, Director Estate Management-II and Director Public Relations. Earlier, Member Estate Shaista Sohail told the meeting that residential plots would be offered for bidding on March 25 and commercial plots on March 26. Auction will be held from 10:00 A.M to 4:00 PM on the scheduled dates. She said that on people’s demand, the number of residential plots had been increased to 47 in different developed sectors, including 20 in Sector G-10/2, three in Sector G-11/4, eight in G-11/2 and 16 in Sector D-12. Among commercial plots, the one measuring 3.75 acres, at a very prime location in Sector F-5/1, meant for a five star hotel is also included.

The other would-be auctioned commercial plots include four in Blue Areas, one class-III shopping centre, and a 1600 square yard plot in Sector D-12.

She said for the first time, two plots measuring 1600 square yard located in Sector E-12, along with those meant for luxury apartments and super market in Sector I-12 Markaz, would also be offered for bidding.