CDA Auctioned Islamabad's Most Expensive Plot Worth Rs 8.54 Billion

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CDA Auctioned Islamabad’s Most Expensive Plot Worth Rs 8.54 Billion

On 24 January 2023, Federal Department “CDA” got immense appreciation during the plots’ auction in Islamabad.

Capital Development Authority (CDA) auctioned Islamabad’s most expensive plot of New Blue Area and generated Rs 8.54 Billion from its sale.

According to the former Chairman of CDA and Chief Commissioner, Captain ( r ) Muhammad Usman Younis, a total of 4 plots were sold successfully for the amount of Rs 11 Billion 95 Crores.

CDA auction has taken a very good start. Two plots in I-14 Markaz sold for Rs 1.3 Billion combined. Another plot of I-8 Markaz with reserved price of 1.2 Billion likely to end up at 1.5 Billion. 🤞

Good going team CDA. Keep up the good work. #CDAAuction #CapitalDevelopment
— Muhammad Usman Younis (@CaptainUsman) January 24, 2023

In the beginning, he stated that the auction has taken an amazing start. Because two plots in I-14 got sold for Rs 1.3 Billion combined and one plot in I-8 Markaz, with a reserved price of Rs 1.2 Billion is expected to get auctioned for Rs 1.5 Billion.

On the first day, CDA succeeded in auctioning 8 plots for the total earnings of 22 Billion 11 Crores.

Not only this, but the plot no.13 of New Blue Area got sold for Rs 3 Millions 1 Thousand and plot no.2 was auctioned for Rs 2.6 Millions 34 Thousands.

According to the sources, CDA aimed to auction 47 plots to generate at least Rs 20 Billion. The auction includes residential, commercial, orchard, vegetable, and poultry plots in developed areas of Islamabad.

At the end of last year, CDA presented the scheme of selling more than 50 residential and commercial plots of Islamabad to meet its financial requirements.

The auction is being held in Convention Center Islamabad from 24 January 2023 to 26 January 2023.