Cash-strapped Capital Development Authority (CDA) has offered 13 commercial and residential plots for Rs 1,092 million in an open auction during the last two days. "The plots offered during the auction and bids received would now be placed before the CDA Board. The CDA is likely to earn Rs 1,092 million through auction of plots if the bidding process is approved by the CDA Board," official said.

He said the auction process was supervised by Member Finance CDA, Azhar Ali Chaudhry, and participated by the members of the committee comprising 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. The two-day auction was held at Pak-China Friendship Centre.

The official said the plots offered by the CDA are located in the developed sectors of the federal capital. The CDA presented 13 residential plots of different sizes in sector D-12, G-10, F-10 and F-6 for bidding during the auction on the second day, which received good response from the bidders, he said. He said plot No 96-A, measuring 1,000 square yards in F-6 received bid of Rs 134,000 per square yard, whereas plot No 96-B of the same sector received a bid of Rs 103,500 per square yard. Similarly, plot No 3-A and 75 each measuring 600 square yards received bid of Rs 77,000 and 66,500 per square yard, respectively. The official said that from among the six residential plots measuring 355.55 square yards each in sector G-10/2, plot 471, 472 received bid of Rs 52,000 per square yard each, whereas, plot No 473, 474, 475 and 476 of abovementioned size received bids of Rs 52,500, Rs 53,000, Rs 55,500 and Rs 59,000 per square yard, respectively.

Copyright Business Recorder, 2012