CDA fetches Rs3.66b from auction of plots

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Staff Reporter

Capital Development Authority’s (CDA) has earned Rs Rs. 3.66 billion from three day’s auction of residential and commercial plots in different developed sectors of the capital.
During the three days auction held at Convention Center, CDA has auctioned total 30 plots. The CDA Authorities decided to exclude 14 commercial plots of different categories from auction as there planning parameter would be affected by Master Plan report which is in progress of approvals.
The same brochures will be applicable for public convenience in auction which will be held after notification of revised master plan. The held back plots include those in blue area.
The auction was conducted in transparent manner and proceedings were supervised by a high level Auction committee headed by Member Estate. The participants and observers appreciated the auction arrangements made by the CDA and efficient, open and transparent auction process.
The income generated from the auction of plots will be spent on development of various sectors of Islamabad.