CDA Breaks All Previous Records in 3-Day Auction of Plots in Jan 2023
ISLAMABAD, January 30, 2023- The Capital Development Authority (CDA) concluded a three-day auction of plots during which 42 plots were sold for a worth of Rs. 41 billion.
Despite the country’s ongoing economic crisis, the CDA has established a new record with this sale. The CDA generated RS. 37 billion in its latest auction, which was held during the amnesty scheme of 2021. Nonetheless, at the most recent auction, the agency surpassed its previous record by a substantial margin, netting RS. 41 billion. In an official statement, a senior CDA official said that CDA sold 42 plots of varying sizes for a record-breaking RS. 40.9 billion during the three-day auction.
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The official noted that the good outcome of the auction was due to the coordinated work of the estate, planning, and finance departments. He commended CDA’s Planning Wing for supplying plots in desirable areas with favorable planning parameters, which the Estate Wing then successfully sold. This ultimately led to the auction’s excellent outcomes.
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Notably, the CDA had previously anticipated that the three-day auction would earn 20 billion rupees, but to its surprise, the event drew an enormous reaction from investors, culminating in a final total of 41 billion rupees.
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