The Capital Development Authority (CDA) has auctioned 11 out of 35 commercial plots, getting Rs13.541 billion during the three days of auction, which concluded last week. The auction committee followed the auction of five plots for Rs11.141 billion by accepting the highest offers of Rs 2.4 billion for six commercial plots.
The committee auctioned plot number 18 Blue Area (G-9/F-9) measuring 611.11 square yards for Rs1.316 billion, while another plot of 20 kanals in Orchard Scheme was auctioned for Rs400 million. The committee received the highest offers of Rs164.6 million and Rs157.3 million for two 133.33 square yard plots. Another two plots of 133.33 square yards each in I-11/1 and D-12/1, class three shopping centers, were auctioned for Rs114.6 million and Rs160 million, respectively. However, no encouraging bids were received for the plots meant for petrol pumps, hotels and hospitals at different locations. An official of CDA said the amount generated from auction would be spent on development projects and to meet other expenses.
