Islamabad: The Capital Development Authority (CDA) is all set to auction commercial plots next month with the expectation to raise PKR 20 billion in revenue, according to news published in the national dailies on November 24.
As per the details, the CDA is selling the plots to meet the developmental and non-developmental expenditures; however, the authority lacks data on its remaining sellable plots. Since the civic agency could not prepare a digital record of the sellable plots, the authority prepares a list of plots for the upcoming auction, before every auction.
A senior official of the estate wing stated that there are many commercial plots in old residential sectors (F-6 and F-7), but the city managers don’t have comprehensive data. If the authority had information about those plots, they can plan better and earn more. He went on to say that the prices of plots in the old sectors are higher than those in the underdeveloped or new sectors, which leads to the loss of billions of rupees.
Iqra holds BS in International Relations and is passionate about writing engaging content on trending real estate topics. When not working, she is either spending time with family, shopping, or discussing shows & movies.
