CDA 4-Day Auction Ends Garnering PKR 12.9 bn

The Capital Development Authority (CDA) concluded its 4-day plots auction on Friday, October 20, which proved to be a significant success for the civic body, as it generated an impressive sum of PKR 12.9 billion, as reported by a news source on October 21.

According to the details given, the auction showcased a wide variety of residential and commercial plots. The CDA managed to sell 25 plots in total, accumulating a remarkable total of PKR 12.90 billion.

Read: CDA Discloses Information Regarding Land Ownership Recovered From Unauthorized Owners

On the final day of the auction, the focus was on plots designated for fruit, vegetable, and meat shops. Each shop measures 16.67 square yards and distributed across different sectors. Notable transactions included plot #4 in sector F-8/4, which changed hands for PKR 43.52 million, and plot #5, which commanded a price of PKR 45.19 million.

Plot Details in PKR Package

Moreover, the fruit, vegetable, and meat shop plots #1, 2, and 3 fetched bids of PKR 19.67 million, PKR 20.34 million, and PKR 29.42 million, respectively. However, there was substantial demand for residential plots as well, with plot #1 selling for a significant PKR 183 million and plot #6 going for an impressive PKR 255 million. Additionally, commercial plot #7 located in the Blue Area, covering 611.11 square yards. It successfully auctioned for a substantial sum of PKR 1.033 billion.

The entire auction procedure vigilantly overseen by a committee led by the Member Estate. The CDA Chairman commended the committee for maintaining transparency during the entirety process for the 4-day auction. Further, in turn, it promoted a fair and competitive atmosphere for all participants.

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The subsequent stage entails the CDA Board undertaking a thorough evaluation of all received bids. It serves as the authoritative body to either approve or disapprove the bids. It ultimately concludes this significant transaction at the center of Islamabad.

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