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Capital Development Authority Grand Auction begins

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Islamabad: The Capital Development Authority (CDA) got resounding response from the public on the first day of the CDA grand auction which begins on Monday at Aabpara Community Centre. The authority is anticipating an earning of Rs. 358.2 Million when the auction of the residential plots matures after getting the node of CDA Board.

On the first day of the grand auction, CDA offered 23 residential plots for bidding at Aabpara Community Centre. The two day auction announced by the Capital Development Authority is meant for residential as well as commercial plots and would continue from 10:00 A M to 4:00 P M on Tuesday May 31, 2011 as well.

On the first day CDA offered 10 plots for bidding in the Sector F-11/1 and F-11/2 were offered for auction out of these plot No.228-C measuring 500 Square Yard received the highest bid of Rs.55, 000/- per Square Yard. Whereas Plot No.153 of street # 24, measuring 400 Square Yard got the lowest bid @ Rs.40,500/- per Square Yard in the sector F-11.

CDA also offered 09 plots located in Sector G-10/2 for auction, out of which plot No.102-B measuring 233.33 Square Yard received the highest bid of Rs.47, 000/- per Square Yard. Whereas Plot No.68 of street # 02, measuring 311 Square Yard received the lowest bid @ Rs.37,500/- per Square Yard in the sector.

During the auction of 02 plots measuring 355 square Yard each were offered for auction in the sector D-12/3 and 01 each in F-10/2 and G-10/3 out of which the plot No.224 of G-10/3 got the highest bid of Rs. 50, 000/- per square yard.

This auction is being supervised by a committee headed by Mr. Saeed-ur-Rehman Member Finance, while Tahir Shamshad, Member Estate and Planning and Design, Abdul Jabbar Malano, Member Engineering, Director Public Relations, Director Estate Management-I, Director Estate Management-II, Director One Window Operation, and Deputy Financial Advisor are the members of the committee. A large number of people participated in the auction on the first day.

The auction of commercial plots would be conducted tomorrow i.e. May 31, 2011 from 10:00 A M to 4:00 P M.

The auction committee would submit its recommendations to the CDA Board, which is the final Authority for approval of these auctions.

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


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