ISLAMABAD - The Capital Development Authority (CDA) on the first day of a two-day open auction of residential and commercial plots received a satisfactory response despite continuing slump in the real state market, as it fetched bids worth Rs247 million approximately against 16 residential plots. Out of the total 16 plots offered for the auction, six plots located in Sector F-11/1 fetched bids worth Rs143.7 million while 10 plots in Sector G-10/2 received bids worth Rs103.2 million. CDA Member Finance Saeed-ur-Rehman while talking to The Nation termed the first day auction results as 'very good besides expressing hope that the authority would get resounding response on second day of auction too. The Authority withdrew two plots located in Sector D-12 that it was supposed to offer in the auction. Two plots in sector D-12 will be offered in the next auction, Saeed added. 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. The Authority for the ongoing financial year 2010-11 estimated revenue of Rs11421.590 million by auctioning/allotment of residential, commercial plots and others. In current fiscal year, at the end of two-day open auction in the month of August 2010, the Authority received bids worth Rs518 million against commercial plots and class-III shopping malls, and bid of Rs171 million against 13 residential plots. On Tuesday, plot no 227-E measuring 500 square yard located in Sector F-11/1 received the highest bid of Rs45,000 per square yard. Whereas plot no 64 and 65 measuring 311 square yard each located in Sector G-10/2 received the lowest bid of Rs35,000 per square yard. Plot numbers 227-B, 227-C and 227-D measuring 500 square yard each in Sector F-11/1 got bids of Rs42,000, Rs43,500 and Rs43,500 per square yard respectively. Two irregular plots in Sector F-11/1 measuring 650 square yard and 825 square yard received bids of Rs39,000 and Rs38,000 per square yard respectively. Three plots in Sector G-10/2 measuring 311.11 square yard each were offered for bidding out of which plot no 72 received the highest bid of Rs.39,500 per square yard. Similarly, five plots each measuring 233.33 square yards were offered in the same Sector G-10/2 in which plot No.103 received the highest bid of Rs42,000 per square yard. An auction committee headed by CDA Member Finance Saeed-ur-Rehman, with Member Estate SM Farooqi, Member Engineering, Planning & Design Abdul Jabbar Malano and Directors of Public Relations, Estate Management-I, Estate Management-II and One Window Operation Directorates as its members supervised the auction. The recommendation of auction committee would be submitted with the CDA Board, which is the final authority for approving or disapproving any of the bids against these plots. The auction of commercial plots would be held today (December 29) from 10:00am to 4:00pm at Aabpara Community Centre.