Islamabad: The Capital Development Authority (CDA) has decided to get all the bids of plots from the recently held auction to be evaluated by an independent evaluator, a news source reported on February 10.
The CDA decided to get all bids assessed before the next board meeting since a lot of questions were being raised regarding the 5,952 square yard plot in the F-7 portion of Blue Area. It was disclosed that the report of the evaluator will be presented before the board for final approval. The independent evaluator has been directed to complete the task within a week.
The news source mentioned that the CDA, according to rules, must submit the bids before the board for final approval. The recent auction was termed the biggest ever through which the authority was able to generate PKR 41 billion from 42 plots. However, a concern was raised about the formula under which the reserved prices were fixed. The concern was related to how a plot in F-7 can be sold at a lower price in comparison to a plot in F-8 or F-9 portion.
A CDA spokesperson Syed Asif Raza shared that the auction is conducted under set rules and regulations. He went on to say that the auction takes place in a transparent manner and is held as per the formula which is already in place.
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.
