ISLAMABAD: The Capital Development Authority CDA auctioned the most expensive plot in the history of Islamabad for Rs 8.54 billion. The said plot is located in Blue Area, the commercial hub of the capital city , measuring 5900 sq. yards.
Lauding the CDA, the former Chairman CDA and Chief Commissioner Islamabad Captain (R) Muhammad Usman Younis tweeted that the authority auctioned Islamabad’s most expensive plot in its history for a price of more than 8.54 billion and has generated Rs 11.95 billion in total by auctioning four plots.
CDA just auctioned Islamabad’s most expensive plot in its history with price of more than 8.54 billion. Total 4 plots sold so far for an amount of 11 Billion 95 Crores. Keep it up team CDA.
— Muhammad Usman Younis (@CaptainUsman) January 24, 2023
As per the bidding rules, the successful bidder will pay the price of the plot to the government in three to five years. But if the bidder pays the amount in a lump sum, he will get a ten percent discount on the total amount.
In a related tweet, Mr. Usman wrote that the auction has taken a brilliant start. Two plots in I-14 Markaz were sold for a worth of Rs. 1.3 billion while the sale of another plot in I-8 Markaz was in the pipeline for a price of Rs. 1.2 billion.
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. 🤞
— Muhammad Usman Younis (@CaptainUsman) January 24, 2023
Good going team CDA. Keep up the good work. #CDAAuction #CapitalDevelopment
Earlier this week, CDA reported that it aims to auction a total of 47 plots including orchards, commercial, poultry, and vegetable plots to generate Rs. 20 billion.
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