CDA auctions six commercial plots

[Lahore_Real_Estate]

ISLAMABAD: The Capital Development Authority (CDA) has sold six commercial plots located in different sectors of federal capital for Rs 1.57 billion however approval of CDA Board is compulsory for allotment of plots to the bidders.

During the auction, CDA offered for bidding seven commercial plots, out of which six plots of different sizes located in the Marakiz of Sector F-6, F-7, F-8, G-11 and F-11, were auctioned. Whereas, auction of Plot No.1-D, situated in F-7 Markaz, was withdrawn due to legal issue.

Plot No 24 measuring 711.11 square yards located in F-6 Markaz fetched the highest bid of Rs 433,000 per sq yards. Plot No 27 measuring 844.44 square yard situated in F-11 Markaz has been auctioned at the rate of Rs 355,000 per square yard. Similarly, Plot No 13-G measuring 666.66 square yard located in F-8 Markaz was auctioned for Rs 275,000 per square yard. Plot No 8, measuring 1777.77 in G-11 Markaz was auctioned for Rs141,000 per square yard. Plot No.33 measuring 1777.78 situated in G-11 Markaz was auctioned for Rs.124, 000 per square yard. While Plot No.5 (for establishment of Hospital) measuring 3333.33 square yard in F-11 Markaz was auctioned at the rate of Rs.95, 000 per square yard.

This auction was supervised by Saeedur Rehman, Member Finance, comprises of Khalid Mirza, Member Estate, Tahir Shamshad, Member Planning & Design, Director (One Window Operation) Director Estate Management-I Director Estate Management-II, Director Public Relations and Deputy Financial Advisor. The recommendations of auction committee would be submitted to CDA Board, which is the final authority for approving or disapproving any of the bids against these plots.