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On the first day of the four-day auction held in the federal capital, the Capital Development Authority (CDA) managed to sell only 4 out of a total of 15 plots. Despite falling short of their target, the civic authority still raked in a substantial revenue of Rs. 7.74 billion. Additionally, 5 plots were excluded from the auction for various reasons.
These excluded plots encompassed two hotel plots, which were removed due to the authority’s inability to secure timely approval from the federal cabinet. Moreover, two petrol pump plots and a farmhouse plot couldn’t be auctioned due to pending issues.
The highest bid of Rs. 4.45 billion was received for plot number 8, covering an area of 2666.66 square yards, situated in the Blue Area.
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Other plots that were successfully auctioned included plot number 53F, sold for one billion 42 lac rupees, plot number 53D, which went for one billion and 90 million rupees, and plot number 28, auctioned for Rs. 1.16 billion.
The CDA’s auction, encompassing both residential and commercial plots, is scheduled to conclude on October 20. These plots are situated in various areas of Islamabad, including the Blue Area and E-11 Northern Strip. Furthermore, plots designated for fruits, vegetables, meat shops, and I-11 markets will also be included in this four-day auction.
It’s noteworthy that plots originally designated for hostels have also been incorporated into this auction.
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