The Capital Development Authority (CDA) managed to sell only 4 out of a total of 15 plots on the first day of the four-day auction in the federal capital.
Although the civic authority couldn’t get the desired results, it still fetched a staggering revenue of Rs. 7.74 billion. Furthermore, 5 plots were excluded from the auction due to various reasons.
It included two hotel plots, which were dropped as the authority couldn’t get approval from the federal cabinet on time. Furthermore, two petrol pump plots and a farmhouse plot also couldn’t be auctioned due to pending issues.
According to details, plot number 8 with a total measurement of 2666.66 square yards located in Blue Area received the highest bid of Rs. 4.45 billion.
The other plots that were auctioned included plot number 53F sold for one billion 42 lac rupees, plot number 53D sold for one billion and 90 million rupees and plot number 28 was auctioned for Rs.1.16 billion.
The CDA auction, encompassing residential and commercial plots, will conclude on October 20. The plots are located in different areas of Islamabad including Blue Area and E-11 Northern Strip.
Additionally, plots of fruits, vegetables, and meat shops and I-11 markets will also go under the hammer in the four-day auction.
It is worth mentioning that plots that were previously designated for hostels have also been included in the auction.