islamabad - The Capital Development Authority (CDA) has received a resounding response on the first day of auction of commercial plots in Islamabad. The Authority has received bids against 11 commercial plots located in Marakiz and different markets of the developed sectors of Islamabad worth more than 3.6 billion on Tuesday.

An eleven-member committee headed by Member Finance, CDA Dr. Fahad Aziz supervised the auction proceedings. Member Estate Khushal Khan, Dy. D.G (Estate), Dy.D.G(Law), Deputy Financial Advisor-II, Director Public Relations, Director (UP), Director (RP), Director Estate Management-II and Deputy Director (Finance) of Capital Development Authority  were the members of the committee. The first day of the auction process was attended by a large number of people who participated in the auction process to get the plots of their choices. The three day auction will be concluded on March 29, 2018.

Chairman CDA, Usman Akhtar Bajwa has expressed his pleasure over the transparent and successful auction of commercial plots on the first day of the event adding that the income from the auction of residential plots will be spent on development of various sectors of Islamabad. He attributed the success of the auction to the level of trust by the citizens in Capital Development Authority.  The committee will submit its recommendations to the CDA Board to accord final approval to the recommendations. 

On the first day of auction, plot 07 measuring 166.66 square yards located in F-10/3 was auctioned at Rs.765,000 per square yard, plot 3-H in sector F-10/4 measuring 133.33 square yard was auctioned at Rs 817,000 per square yard, plot 1-N measuring 133.33 square yards in sector F-11/1 was auctioned at the rate of Rs.560,000 per square yard,  plot 1-O of the same markaz measuring 200 square yards was auctioned at Rs.710,000 per square yard while plot 05 in sector F-8/4 measuring 160 square yards was auctioned at Rs.916,000 per square yard.

Similarly, commercial plot 11 in sector F-6/2 measuring 160 square yard was auctioned at the rate of Rs.800,000 per square yard. Similarly, commercial plot 63-C for filling station measuring 1666.66 square yards was sold at Rs.400,000 per square yard, plot20 sector D-12 measuring 711.11 square yards was sold at Rs.414,000 per square yard while plot 20-A of the same sector measuring 711.11 square yard was sold at Rs.454,000 per square yard. Plot 30 of Markaz I-8 measuring 1111.11 square yard was sold at Rs.770,000 per square yard and plot 31 of the same markaz measuring 1066.66 square yards was sold at Rs 716,000 per square yard.  

Auction of commercial plots will continue up to March 29, 2018. On the second day, commercial plots of Markaz F-11, G-11, I-8, I-12 and I-16, class-III shopping centre plots of D-12 and petrol pump plot of Park Enclave will be presented for auction.