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CDA auctions residential plots worth Rs 358m - Lahore_Real_Estate - 05-31-2011 04:53 PM
ISLAMABAD: The Capital Development Authority (CDA) got resounding response from the public on the first day of the CDA grand auction that began on Monday at Aabpara Community Centre. 23 Residential plots worth Rs 358.2 Million were sold the first day.
CDA offered 10 plots for bidding in Sector F-11/1 and F-11/2. Plot no 228-C measuring 500 square yard received the highest bid of Rs 55, 000 per square yard.
Whereas plot no 153 measuring 400 square yard got the lowest bid i.e. Rs 40,500 per square yard in the sector F-11.
CDA also offered 9 plots located in G-10/2 for auction; out of which plot no 102-B measuring 233.33 square yard received the highest bid of Rs 47, 000 per square yard.
Whereas plot no 68 measuring 311 square yard received the lowest bid i.e. Rs 37,500 per square yard.
During the auction of 2 plots measuring 355 square yard, each were offered for bidding in the sector D-12/3 and one each in F-10/2 and G-10/3, out of which the plot no 224 of G-10/3 got the highest bid of Rs 50, 000 per square yard.
A committee headed by Saeed-ur-Rehman, Member Finance, is supervising the auction.
Tahir Shamshad, Member Estate & Planning & Design, Abdul Jabbar Malano, Member Engineering, Director Public Relations, Director Estate Management-I, Director Estate Management-II, Director One Window Operation, and Deputy Financial Advisor are the members of the committee.
A large number of people participated in the auction on the first day.
Commercial plots would be auctioned on May 31 from 10:00 am to 4:00 pm. The auction committee would submit its recommendations to CDA Board, the final authority for approval of these auctions.