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Rs 4.3 billion worth of commercial plots auctioned

Islamabad, November 20, 2012 (PPI-OT): The Capital Development Authority (CDA) get healthy response for the auction of commercial plots on the second day of the CDA grand auction on Tuesday and would fetch around Rs.4.32 billion if the bids received against the 10 number of commercial plots offered for open auction are approved by CDA Board in totality.

The CDA Board is the final authority to decide the fate of the bidding process. CDA is likely to get Rs 149.82 million from auction of these residential plots if rectified by the CDA Board. The Authority conducted two day grand auction of residential, commercial plots, Economy flats, Filling stations and other plots of different sizes and categories in developed sectors of Islamabad, which concluded on Tuesday.

On the second of the grand auction under the auspices of the CDA held at Jinnah Convention Centre participated by a large numbers of bidders, authority presented ten (10) numbers of commercial plots for bidding.

Out of the four number of plots offered for auction in the Blue Area, Commercial centre, the plot No.B-3 located in between Sector F-9 / G-9 measuring 1333.33 square yard received the highest bid of Rs.360,000/- per square yard. Whereas Plot NO.6 of Blue Area located between Sector F-8 / G-8 got the lowest bid of Rs.287,000/- per square yard in this commercial area.

The auction process was supervised by Member Finance CDA, Azhar Ali Chaudhry, and participated by the members of the committee comprising of Member Planning and Design, Syed Mustafain Kazmi, Member Estate, Shaista Sohail, Deputy Director General Finance, Zia-ur-Rehman Toor, Director Estate Management-I, Naveed-ul-Haq, Director Estate Management-II, Muhammad Aslam Chaudhry and Director Public Relations, Ramzan Sajid.

The commercial Plot No 15 Northern Strip, E-11 of measuring size 2184 square yards meant for Filling station got a bid of Rs.84,000/- per square yard, Plot No 2 and 3 of Northern Strip of measuring size 4833.33 square yards each meant for medium rise apartments received the bid of Rs.58,000/- and Rs.55,000/- per square yard respectively. Plot number 6 of Blue Area F-8/G-8 of measuring size of 2666.3 square yards got the bid of Rs.313,000/- per square yard. Plot No 14, Markaz D-12 measuring size of 1600 got the bid of Rs.136,000/- per square yard whereas Plot No 10 Markaz F-11 measuring size 888.88 square yards received the bid of Rs.286,000/- per square yard. Plot No.20 of Sector G-11/3 meant for economy flats received a bid of Rs.58,000/- per square yard.

On the first day of bidding four (4) numbers of residential plots measuring size 272.22 of Sector G-10 and 6 plots measuring size 355.55 square yards of the same sector were offered for auction. During the auction on Monday the residential Plot No.556, Sector G-10/2 measuring 355.55 square yards received the highest bid of Rs. 51,000/- per square yard, whereas the Plot No.551 of the same size in the same sector got the lowest bid of Rs.42,000/- per square yard.

The Plots No.555, 554, 553 and 552 measuring 355.55 square yard each get the price of Rs.44,500/-, Rs.46,000/-, Rs.46,500/- and Rs.44,000/- per square yard respectively. The Plot No.537 in 272.22 square yard category, in Sector G-10/2 get the highest bid of Rs.50,000/- per square yard among four plots of this size. Whereas Plots No.535, 536 and 538 measuring 272.22 get the price of Rs.46,500/-, Rs.46,500/- and 49,500/- per square yard respectively.

The Plot offered during the auction and bids received bids would be presented before the CDA board which is the final authority to accept or reject the offers.

For more information, contact:
Public Relations Directorate
Capital Development Authority (CDA)
Main Office, G-7/4, Islamabad
Tel: +9251 925 2614
Email: getreply@cda.gov.pk

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