Islamabad: The Capital Development Authority (CDA)’s three-day auction has been progressing to a highly favourable response with the authority successfully auctioning off another 12 plots on the second day, news sources reported on January 26.
Reportedly, the CDA sold 12 plots for PKR 11 billion and has succeeded in generating PKR 32.5 billion from the sale of 20 plots in two days. The authority has received an overwhelming response from the business community, with participants bidding for various plots marked for orchards, commercial outlets, parking lots, and residential complexes. The CDA auction also included residential plots of the Park Enclave Housing Scheme and three agricultural farms.
As per the rules, the CDA auctions off plots in an open bidding process and the winning bidders are obligated to pay a token amount immediately and the remaining amount in quarterly instalments spanning a year. The auction will continue till today (January 26) at Jinnah Convention Center (JCC) Islamabad, beginning at 10 AM. It is important to note that the CDA is organising the auction after a gap of 1.5 years. The three-day open auction will present over 47 residential and commercial properties in various parts of the city.
Read:CDA conducts ballot of Sector C plots The auction is being overseen by an auction committee set up under the chairmanship of the CDA Member Finance. Other members of the committee include Member State, Member Planning and Design, DFA-II, DG Law, Director Public Relations, Director Urban Planning, Director Regional Planning, Director State Management-II and Director Finance.
Hazafa reveres the art of writing and has been turned into a property enthusiast by profession. Her daily survival kit includes; tea, coffee, keyboard and paperbacks.
