Residential and commercial plots in the developed sectors and commercial areas of Islamabad are sold off in public auctions by CDA. These auctions are monitored by an auction committee led by the CDA member finance. The committee is also comprised of members from Estate, Planning and Development, DFA-II, DG Law, Director Public Relations, Director Urban Planning, Director Regional Planning, Director Estate Management-II, and Director Finance.
On the first day of the very recent Plot auction held at the Jinnah Convention Center Islamabad, a very strong and optimal response was recorded by CDA. CDA successfully sold off the most expensive plot in Islamabad’s history, bringing in RS. 8.54 billion. The plot is about 10 kanals in size and is located in a prime location of Islamabad's integral commercial hub, Blue Area. According to the CDA officials, the plot is best suited for a high-rise building or commercial center.
Approval of auctioning off 47 plots in three days (January 24 to January 26) has been given by Chairman CDA retd. Captain Usman. These plots are located in Bahria Enclave, Park-View, G9, I-9, and E-11.
A total of 8 plots have been auctioned off on day one and bidding for the remaining commercial and residential plots is to be held on the 25th and 26th of January. CDA is expected to successfully make more than Rs.22.1 billion in bidding for these plots.
The bids received after thorough scrutiny will be placed before the CDA Board which is the competent forum to accept or reject the bids.
Leave a Reply
Your email address will not be published. Required fields are marked *