CDA auctions plots worth Rs3.512 billion

Islamabad:      The Capital Development Authority (CDA) auctioned eight (08) commercial plots for approximately Rs2.815 billion on the second day of the three-day auction.

According to a press release, the auction had been organised by the civic agency at the Jinnah Convention Centre, which will continue till 24^th October.

A large number of investors and general public is attending the event and showing interest in investment. The CDA claims that their investment-friendly and friction-free transaction process has urged investors to consider the opportunity. During two days, the auction of residential and commercial plots brought Rs3.512 billion.

The auction process is being supervised by an auction committee headed by the CDA Member Estate.

Breakdown of the auctioned plots is as follows:

Plots

Plot No.                      Location                     Size                             Bid

40-B                            Markaz G-9                 733.33 sq. yd.             Rs500,000/sq. yd.

31-B                            Markaz G-9                 205.55 sq. yd.             Rs1,170,000/sq. yd.

23-B                            Markaz G-10               333.33 sq. yd.             Rs1.050,000/sq. yd.

13                                Markaz D-12               711.11 sq. yd.                Rs530,000/sq. yd.

3-A                              Markaz D-12               711.11 sq. yd.               Rs480,000/sq. yd.

27                                Markaz I-8                   1111.11 sq. yd.             Rs805,000/sq. yd.

10                                F-11/2                          1066.66 sq. yd.           Rs122,000/sq. yd.

32                                Park Enclave              266.66 sq. yd.             Rs431,000/sq. yd.

 

It is reported that the income from the auction will be spent on the development of sectors of Islamabad.