The Capital Development Authority (CDA) is set to generate around Rs3 billion from the auction of 46 residential, commercial, industrial and orchard farm plots in the upcoming auction to be held on November 24-25.
CDA Chairman Tariq Mehmood said that the civic body was busy in making arrangements to overcome the financial constraints it is confronted with at present because of heavy budget announced last June and heavy expenditures already made on the development projects, mainly on the road projects.
“The CDA is generating only Rs1.30 billion through its own resources, that is revenue collection on account of property tax, the water charges and some contributions coming in shape of the money received through advertisement charges,” the chairman said.
He said that a heavy budget of Rs26 billion was announced earlier this year while a number of mega projects were launched and a few were completed over the last five years as well. “At present there are only Rs8 billion left in the kitty of the CDA, he added.
Meanwhile, Director Estate Management-I Syed Iftikhar Hussain Shah said that 46 plots, including residential, commercial, industrial and orchard farm, would be put up for open auction to be held on November 24-25 at the Aabpara Community Centre.
“Two plots measuring 555 sq yards and two measuring 600 sq yard are located in Sector F-10/2, one plot measuring 1,000 sq yard is located in Sector F-11/4, four plots measuring 400 sq yard each are located in Sector F-11/4, 12 plots measuring 355 sq yard each are located in Sector G-10/3, and six plots measuring 166 sq yard each are located in Sector I-10/2,” Syed Iftikhar Hussain Shah told ‘The News’.
On the commercial side two plots measuring 1,770 sq yard will be up for grabs in Markaz G-11 while one plot measuring 1,066 sq yards will be auctioned in Markaz I-8. One huge plot measuring 4,363 sq yard will be up for auction in Sector I-11/4. A small plot for a shop measuring 26 sq yard will also be available in Sector I-11/4.
Six plots have been created in I&T Centre, G-10, four are measuring 533 square yards, one measures 524 square yards and one measures 355 square yards.
The six orchard scheme farms are located along Murree Road. Five measure two-and-a-half acres while one measures 4.04 acres.
