April 16, 2003	Wednesday	Safar 13, 1424

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ISLAMABAD, April 15: The Capital Development Authority (CDA) earned around Rs53 million through the auction of as many as 15 residential plots in sectors G-11/2, G-11/3 and I-10/2 on Tuesday, the second day of the four-day open auction of residential and commercial plots.

After Tuesday’s proceedings, the Authority earned a total of around Rs416 million through the sale of 65 residential plots alone.

There was one plot measuring 1,000sq yard in G-11, a rare size for ‘G’ series sectors after G-6, which alone fetched Rs.14.5 million to the Authority. The plot attracted a bid of Rs. 14,500 per sq yard.

Four plots measuring 200 sq yard each in sector G-11/2 were sold for around Rs14.30 million. The minimum price for these 200sq yard plots was around Rs3.5 million at the rate of Rs17,600 per sq yard the maximum price in this category remained a little over Rs3.6 million at the rate of Rs18,100 per sq yard.

Two small size plots measuring 88.88 sq yard in sector G-11/3 were auctioned for Rs2,916,550 and Rs2,066,584 at the rate of Rs18,500 and Rs14,500 per sq yard.

In sector I-10/2, as many as nine plots measuring 166.66 sq yard each were auctioned on Tuesday. The maximum price of a plot in this category was recorded Rs2.9 million at the rate of Rs17,500 per sq yard while the minimum was recorded at Rs2.06 million at the rate of Rs12,400 per sq yard.

The nine plots in I-10/2, supposedly a sector specially developed for low-income group of society, helped CDA earn around Rs.22.5 million.

The CDA spokesman said the auction of residential plots was completed and from Wednesday commercial plots would be offered in the open auction, which would continue for two days, on April 16 and 17.

Sources in the CDA said such a high bidding for the residential plots in these sectors was not expected.

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