Islamabad: CDA auctions 23 residential plots for Rs 258.38 million

[Naveed Yaseen]

By Fazal Sher
ISLAMABAD: The cash strapped Capital Development Authority (CDA) on Friday auctioned 23 residential plots in different sectors of the city for Rs 258.38 million.

The two-day auction started on Friday at Aabpara Community Centre under the supervision of CDA Member Finance Saeedur Rahman. Member Estate Asad Munir, Member Planning and Design Syed Tanveer Bukhari and other senior officials also attended the auction, a senior official desiring not to be named told Daily Times.

As the CDA has used most of its reserves due to worsening financial crisis, it has planned to auction plots after every few months, he said. The auction of plots is one of the main sources of revenue for the authority and the high-ups are eying on it to overcome the financial problem, but the bidders showed interest only in the residential plots during the last few auctions, which dashed CDA hopes, he added.

Highest bid: The official said on the first day of the two-day auction, 23 plots in different sectors were auctioned for Rs 258.389 million. The highest bid was Rs 42,500 per square yard (PSY) for plot number 169 located in Sector G-10/3, he added.

He said the plot auctioned by CDA on Friday included plot No 468 356 D-12/4 at Rs 24,500 PSY for Rs 8.722 million, plot 469 356 D-12/4 at Rs 22,000 PSY for Rs 7.832 million, plot No 58 311.11 G-10/2 at Rs 30,500 PSY for Rs 94,88,855, plot No 59 311.11 G-10/2 at Rs 31,500 PSY for Rs 97,99,965, plot No 60 311.11 G-10/2 at Rs 31,500 PSY for Rs 97,99,965, plot No 61 311.11 G-10/2 at Rs 26,500 PSY for Rs 82,44,415, plot No 62 311.11 G-10/2 at Rs 33,500 PSY for Rs 1,04,22,185 and plot No 63 311.11 G-10/2 at Rs 36,000 PSY for Rs 1,11,99,960.

Similarly, plot No 64 311.11 G-10/2 was auctioned at Rs 30,500 PSY for Rs 94,88,855, plot No 65 311.11 G-10/2 at Rs 30,500 for Rs 94,88,855, plot No 66 311.11 G-10/2 at Rs 30,000 PSY for Rs 93,33,300, plot No 67 311.11 G-10/2 at Rs 29,000 PSY for Rs 90,22,190, plot no 68 311.11 G-10/2 at Rs 28,500 PSY for Rs 88,66,635, plot No 69 311.11 G-10/2 at Rs 27,500 PSY for Rs 85,55,525, plot No 93 233.33 G-10/2 at Rs 35,500 PSY for Rs 82,83,21, plot No 94 233.33 G-10/2 at Rs 37,000 PSY for Rs 86,33,210, plot No 135 471.11 G-10/3 at Rs 41,500 PSY for Rs 1,95,51,065, plot No166 471.11 G-10/3 at Rs 36,500 PSY for Rs 1,71,95,515, plot No 167 471.11 G-10/3 at Rs 39,500 PSY for Rs 1,86,08,845 plot No 168 471.11 G-10/3 at Rs 41,500 PSY for Rs 1,95,51,065, plot No169 471.11 G-10/3 at Rs 42,500 PSY for Rs 2,00,22,175, plot No 181 355.55 G-10/3 at Rs 40,500 PSY for Rs 1,43,99,775, plot No 01 200.00 I-16/4 at Rs 9,400 PSY for Rs 18,80,000.

Commercial plots: He said a large number of people participated in the open auction. He said on Saturday (today) commercial plots of different sizes including plots for CNG stations and orchard would be offered for auction.

http://www.dailytimes.com.pk/default.asp...009_pg11_3