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CDA Makes Whopping Rs. 22.11 Billion With Auction for Commercial Plots

Despite the transition of the CDA Chairman the day before, the recent three-day commercial property auction held by the Capital Development Authority (CDA), which began on Tuesday, was successful.

A single plot of 5,952 square yards in the Blue Area brought in Rs. 8.54 billion from the sale of one of the eight commercial plots, for a total of Rs. 22.11 billion.

Read: Pearl Block of Park View City Payment Plan Announced

It should be noted that the last CDA sale was held in 2021, making this 2023 auction the organization’s first government land auction in over two years. Given the sluggish rate of private home construction and the lack of new private projects, this gap had generated market demand. As a result, investors hurried to purchase CDA sites.

For plot number 62 in the old Blue Area, Mari Petroleum made the highest offer of Rs. 1.435 million per unit of land area, for a total of Rs. 8.54 billion, according to the CDA’s auction committee, which was chaired by Member Estate Afnan Alam Khan. The largest bid ever recorded for the sale of a single property was just shy of Rs. 8.79 billion, though, in August 2021.

Read: PKR 1.4 Trillion Worth Housing Projects to Trigger Construction Industry: PM

The highest offers, of Rs. 30.01 lac and Rs. 26.35 lac per square yard, were placed on plots 13 and 2 in the Blue Area, each measuring 611 square yards. These plots received bids of Rs. 1.83 billion and Rs. 1.60 billion, respectively. The committee will offer a number of additional plots in the Blue Area that total 9,600 square yards and 4,511 square yards on the day after the auction. All of the winning bids, according to a CDA representative, are subject to CDA board approval.

You can also invest in other famous and most in demand housing societies, such as , Blue World City,  Rudn Enclave7 Wonders City PeshawarTaj ResidenciaKingdom Valley,  New Metro City Gujar KhanForest Town RawalpindiUniversity Town RawalpindiICHS TownPark View City IslamabadMulti Gardens B17 Islamabad and Nova City Islamabad.

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Few more real estate housing schemes which are trending now a days in Islamabad by including: Faisal Town Phase 2Prism Town Gujar KhanNew City ParadiseEighteen Islamabad7 Wonders City IslamabadCapital Smart City,  Silver City IslamabadThe Life Residencia,  Faisal Town IslamabadIslamabad Golf CityIslamabad Model Town and Marble Arch Enclave.

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