Lahore: The Capital Development Authority (CDA) has decided to auction its commercial and residential plots located in various parts of the city to generate revenue for development projects in the city, news sources reported on October 20.
In this regard, a meeting was held at the CDA headquarters to discuss and select various plots across the city for the upcoming auction. During the meeting, participants reviewed around 40 plots for the sale located in Blue Area, Park Enclave, Northern Strip of E-11, a petrol pump plot in D-12, and several residential plots in F-10. In this respect, the CDA’s Planning Wing has formed a team to further explore and locate plots around the city. The wing will present its findings to the CDA board, which will approve the auction of identified plots.
It is vital to highlight that most of CDA’s revenue comes from auctioning residential and commercial plots. The cash raised is often used to support civic development initiatives and pay wages to 16,000 employees. Currently, the CDA has launched several development projects worth PKR 50 billion, including road infrastructure development and sector development projects.
Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.
