ISLAMABAD: The Capital Development Authority (CDA) has auctioned eight plots and fetched more than Rs 10.94 billion in two days.

The auction of plots will continue on October 19th and 20th, 2023 at Jinnah Convention Centre, Islamabad.

According to the details, on the second day of the auction, Plot No 1 measuring 355.55 square yards in Sector G-6/1-1 was auctioned for Rs 602 million.

Similarly, Plot No N-1 measuring 1,066.66 square yards located in Sector E-11 was auctioned for 1.24 billion rupees.

On the second day of the auction, hostel plot measuring 1,111.11 square yards in Sector G-7/3 was auctioned for Rs706 million while hostel plot measuring 1,111.11 square yards located in Sector G-9/4 was auctioned for Rs 604 million.

Residential and commercial plots of different categories are being offered for investment in the four-day auction of plots.

During the four-day auction, plots of various marakaz, Blue Area, and E-11 Northern Strip are being auctioned.

Park Enclave Commercial, Class III shopping centers, agro farms, apartments and industrial plots are being offered for auction.

Similarly, the plots of fruit, vegetable and meat shops and I-11 markets will also be presented for auction, while for the first time, the plots allocated for hostels were offered for auction.

Residential plots will also be auctioned during the four-day auction of plots.

The auction is being supervised by the auction committee headed by the Member Estate. The committee has made effective arrangements to make the auction transparent. Due to which the investors are actively participating in the bidding and buying the plots of their choice.

The bids received after thorough scrutiny will be placed before the CDA Board, which is the competent forum to accept or reject the bids.

Copyright Business Recorder, 2023