The Capital Development Authority (CDA) on Monday, the first day of its four-day auction campaign held at Jinnah Convention Centre Islamabad, successfully auctioned 25 residential plots worth Rs.1024 million (approximately).
The auction which will continue till April 11, witnessed impressive gathering of investors and general public with enthusiastic participation and around 150 investors participated in the bidding process on first day. Furthermore, 100% response was witnessed during the first day as each plot presented for bidding was successfully auctioned out. The enthusiastic response from investors is the outcome of investor friendly policies of present CDA management.
The auction was conducted in transparent manners and proceedings were supervised by a high level Auction committee headed by Member Finance. The participants and observers appreciated the auction in which the arrangements of the CDA and auction committee conducted the auction process in an efficient, open and transparent manner.
During the first day of auction of residential plots plot No. 201, Street No.21 of sector G-10/2 measuring 444.44 square yards (s.q) received bid Rs.85000 per square yard, plot No. 202, Street No.21, Sector G-10/2 measuring 444.44 s.q received bid Rs. 84000/- per square yard, plot No. 522, Street No.13, Sector G-10/2 measuring 356 s.q received bid Rs. 92,000/- per square yard, plot No.523, Street No.13, Sector G-10/2 measuring 356 s.q received bid Rs.107,000/- per square yard, plot No.552, Street No.13, Sector G-10/2, measuring 356 s.q received bid Rs.98,000/- per square yard, plot No.4, Street No.11-B, Sector F-10/2 measuring 555.5556 s.q received bid Rs.121,000/- per square yard, plot No.5, Street No.11-B, Sector F-10/2, measuring 555.5556 s.q received bid Rs.112,000/- per square yard, plot No.31-A, Double Road, Sector F-10/2 measuring 600 s.q received bid Rs.113,000/- per square yard, plot No.2, Street No.1-A, Sector F-10/3, measuring 600 s.q received bid Rs.113,000/- per square yard, plot No.6, Street No. 1-B, Sector F-10/3 measuring 600 s.q received bid Rs.113,000/- per square yard, plot No.8, Street No.1-B, Sector F-10/3, measuring 600 s.q received bid Rs.114,000/- per square yard, plot No.402, Street No.34, Sector F-11/2, measuring 500 s.q received bid Rs.120,000/- per square yard, plot No.403, Street No.34, Sector F-11/2 measuring 500 s.q received bid Rs.122,000/- per square yard, plot No.404, Street No.34, Sector F-11/2 measuring 500 s.q received bid Rs. 122,000/- per square yard, plot No.405, Street No.34, Sector F-11/2 measuring 500 s.q received bid Rs.120,000/- per square yard, plot No. 703, Street No.103, Sector D-12/1 measuring 272.22 s.q received bid Rs.83,000/- per square yard, plot No.704, Street No.103, Sector D-12/1 measuring 272.22 s.q received bid Rs.84,000/- per square yard, plot No.708, Street No.103, Sector D-12/1 measuring 272.22 s.q received bid Rs. 83,000/- per square yard, plot No.709, Street No.103, Sector D-12/1 measuring 272.22 s.q received bid Rs.85,000/- per square yard, plot No. 940, Double Road, Sector D-12/1 measuring 272.22 s.q received bid Rs.90,000/- per square yard, plot No. 944, Double Road, Sector D-12/1 measuring 272.22 s.q received bid Rs.88,000/- per square yard, plot No. 945, Double Road, Sector D-12/1 measuring 272.22 s.q received bid Rs.89,000/- per square yard, plot No. 480, Street No.115, Sector D-12/1 measuring 111.11 s.q received bid Rs.107,000/- per square yard, plot No.481, Street No.115, Sector D-12/1 measuring 111.11 s.q received bid Rs.114,000/- per square yard, plot No.609, Street No.104, Sector D-12/1 measuring 111.11 s.q received bid Rs.105,000/- per square yard were auctioned.
The income generated from the auction of residential plots will be spent on development of various sectors of Islamabad. The successful auction of a large number of plots at much higher prices on the first day of the auction process is the expression of trust by the citizens in policies of authority. The committee will submit its recommendations to the CDA Board. The CDA Board is the competent authority to accord final approval to the recommendations after the conclusion of auction process. Auction of residential plots will remain continue on Tuesday while commercial plots will be presented for auction on April 10 and 11, 2019.
