The Capital Development Authority (CDA) has successfully auctioned 25 residential plots, worth Rs 1,024 million (approximately), on Monday. The plots were auctioned on first day of four days auction held by the CDA here at Jinnah Convention Centre. The auction will continue till April 11, 2019. The auction witnessed impressive gathering of investors and general public with enthusiastic participation. On the first day of auction, around 150 investors participated in the bidding process. Furthermore, 100% response was witnessed during the first day as each plot presented for bidding was successfully auctioned out. The enthusiastic response from the investors is the outcome of investor friendly policies of the present CDA management.
The auction was conducted in the transparent manner and proceedings were supervised by a high-level auction committee headed by the member finance CDA. The participants and observers appreciated the auction in which the arrangements of the CDA and auction committee conducted the auction process in an efficient, open and transparent manner.
During the first day of auction of residential plots plot No. 201, Street No. 21 of sector G-10/2 measuring 444.44 square yards (sqy) received bid Rs 85,000 per square yard, plot No. 202, Street No.21, Sector G-10/2 measuring 444.44 sq received bid Rs 84,000 per square yard, plot No. 522, Street No.13, Sector G-10/2 measuring 356 sq received bid Rs 92,000/- per square yard, plot No.523, Street No.13, Sector G-10/2 measuring 356 sqy received bid Rs 107,000 per square yard, plot No.552, Street No.13, Sector G-10/2, measuring 356 sqy received bid Rs 98,000 per square yard, plot No.4, Street No.11-B, Sector F-10/2 measuring 555.5556 sqy received bid Rs 121,000 per square yard, plot No.5, Street No.11-B, Sector F-10/2, measuring 555.5556 sq received bid Rs 112,000/- per square yard, plot No. 31-A, Double Road, Sector F-10/2 measuring 600 sqy received bid Rs 113,000 per square yard, plot No. 2, Street No.1-A, Sector F-10/3, measuring 600 sqy received bid Rs113,000 per square yard, plot No. 6, Street No. 1-B, Sector F-10/3 measuring 600 sqy received bid Rs113,000 per square yard, plot No.8, Street No.1-B, Sector F-10/3, measuring 600 sqy received bid Rs 114,000 per square yard, plot No. 402, Street No.34, Sector F-11/2, measuring 500 sq received bid Rs120,000 per square yard, plot No. 403, Street No. 34, Sector F-11/2 measuring 500 sq received bid Rs122,000 per square yard, plot No. 404, Street No.34, Sector F-11/2 measuring 500 sqy received bid Rs 122,000 per square yard, plot No. 405, Street No. 34, Sector F-11/2 measuring 500 sqy received bid Rs120,000 per square yard, plot No. 703, Street No.103, Sector D-12/1 measuring 272.22 sqy received bid Rs 83,000 per square yard, plot No. 704, Street No. 103, Sector D-12/1 measuring 272.22 sqy received bid Rs 84,000 per square yard, plot No. 708, Street No.103, Sector D-12/1 measuring 272.22 sqy received bid Rs 83,000 per square yard, plot No. 709, Street No.103, Sector D-12/1 measuring 272.22 sqy received bid Rs 85,000 per square yard, plot No. 940, Double Road, Sector D-12/1 measuring 272.22 sqy received bid Rs 90,000 per square yard, plot No. 944, Double Road, Sector D-12/1 measuring 272.22 sq received bid Rs 88,000 per square yard, plot No. 945, Double Road, Sector D-12/1 measuring 272.22 sq received bid Rs 89,000 per square yard, plot No. 480, Street No.115, Sector D-12/1 measuring 111.11 sq received bid Rs 107,000 per square yard, plot No.481, Street No.115, Sector D-12/1 measuring 111.11 sqy received bid Rs114,000 per square yard, and plot No.609, Street No.104, Sector D-12/1 measuring 111.11 sqy received bid Rs105,000 per square yard were auctioned.
The income generated from the auction of residential plots will be spent on development of various sectors of Islamabad. The successful auction of a large number of plots at much higher prices on the first day of the auction process is the expression of trust by the citizens in policies of authority.
The committee will submit its recommendations to the CDA Board. The CDA Board is the competent authority to accord final approval to the recommendations after the conclusion of auction process. Auction of residential plots will remain continue on Tuesday (today) while commercial plots will be presented for auction on April 10-11, 2019.
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