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| April 17, 2003 | Thursday | Safar 14, 1424 |
28 commercial plots sold on third day of auction
ISLAMABAD, April 16: The Capital Development Authority (CDA) sold 28 commercial plots on the third day of the auction on Wednesday, fetching an amount of about Rs1.708 billion.
Earlier, on the first two days, the authority had earned a little over Rs416 million through the open auction of 65 residential plots in different sectors.
In Wednesday’s proceedings, 10 plots in G-9 Markaz and G-10 Markaz were offered for auction which attracted a maximum bid of Rs156,800 per sq yard while the minimum in this category was recorded at Rs36,000 per sq yard.
In the Class-III shopping centre category, the authority floated six plots in sectors F-11, F-10, G-8, I-8 and I-9 and once again there was a fierce competition amongst the bidders.
The maximum bid for one of these plots went as high as Rs63,200 per sq yard while the minimum remained Rs19,000 per sq yard.
Two plots of I&T (Industrial and Trade) Centre in G-10/4 attracted bids of Rs16,900 and Rs12,100 per sq yard, respectively.
The seven plots for the construction of ‘Economy Flats’ in G-11/3 sector were a big attraction. However, the bids for these sites remained comparatively on the lower site with Rs14,900 per sq yard as the maximum and Rs10,000 minimum.
As against these the lone site for ‘Luxury Apartments’ located in F-10 Markaz, measuring 11,750 sq yard, attracted a maximum bid of Rs53,700 sq yard. The plot was auctioned for an amount of about Rs631 million.
Two plots in G-10/4 Mauve Area fetched identical bids of Rs10,000 per sq yard each.
In the ‘Orchard Scheme’ only two plots, measuring 2.66 acres and 2.5 acres, were auctioned on Wednesday at an amount of Rs765,000 and Rs700,000 per kanal, respectively.
Masood Muzaffar, the FA/member of the CDA, continued to supervise the auction along with his team.
The remaining commercial plots will be offered for open bidding on Thursday, the last day of the four-day auction.
Meanwhile, the CDA’s Directorate of Municipal Administration (DMA) has warned that all signboards, hoardings, billboards, directional boards, signposts, rooftop boards and other such advertisements, not carrying licence numbers issued by the DMA, will be forcibly removed and the defaulters fined.
In a statement issued on Wednesday, the authority directed all those who had not complied with the rules and regulations to obtain licences before April 30.
The DMA also warned citizens, business concerns, owners of hotels, motels, kiosks, nurseries and other such business institutions to remove all sorts of encroachments from CDA’s land.
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