The Capital Development Authority (CDA) has generated Rs 1.5 billion by auctioning commercial, agriculture and residential plots in different sectors of federal capital. Talking to Business Recorder here on Tuesday, Saeed-ur-Rehman, Member Finance said we were not sure that such handsome amount could be generated through this auction.
"It was expected that the authority may generate about Rs 1.3 billion or below, but it is good to see that such a hefty amount coming through the auction", he added. The auction of residential, commercial and orchard plots took two days starting from November 24. On the first day, seven agriculture and commercial plots were auctioned and about Rs 700 million were generated, while on second day in the category of residential plots, five plots in Sector I-10/2 measuring 25X60 yards were auctioned at Rs 30,600 to Rs 33,000 per square yard.
12 residential plots in Sector G-10/3 measuring 40X80 yards were auctioned at Rs 38,900 to Rs 53,500 per square yard and four plots measuring 40X90 yards were auctioned at Rs 46,500 to Rs 49,500 per square yard in sector F-11/2. A residential plot measuring 1,000 square yard in Sector F-11/4 was auctioned at Rs 48,500 per square yard and one plot measuring 555.55 square yard in Sector F-10/2 was auctioned at Rs 45, 000 per square yard.
On the other hand in commercial category, Plot No 21 measuring 1777.77 square yard was auctioned at Rs 129,000 per square yard in Markaz G-11, Plot No 10 measuring 1777.77 square yard was auctioned at Rs 171,000 per square yard. Talking to this scribe, Member Estate Brigadier Asad Munir (Retd) said that the authority was not expecting to generate the stated amount as these plots were not that big.
However, CDA is looking forward to generate about Rs 10 billion by the auction of plots for establishing CNG station in various localities of the capital particularly in Blue Area and from the auction of apartments located in Sector G-11 and F-11. Auction date for these plots and apartments has not been finalised yet.
The auction was supervised by Member Finance Saeed-ur-Rehman, Member Estate Brigadier Asad Munir (Retd), Member Planning & Design Syed Tanvir Bukhari, Senior Director Public Relations Rawal Khan Maitla, Director Estate Management-I Syed Iftikhar Hussain Shah, Director One Window Operation Gulzar Hamid and Deputy Financial Advisor Zia-ur-Rehman Toor.
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