ISLAMABAD: The most expensive plot in the history of CDA has been successfully auctioned, according to Capt (r) Muhammad Usman Younis, the former CDA Chairman and Chief Commissioner Islamabad.
The sources informed that a plot of 5,952 square yards in the Blue Area (F-7/G-7) division was auctioned for Rs 1.435 million per square yard, fetching a total of Rs. 8.54 billion
According to the details, Usman said on Twitter that the transaction yielded Rs. 8.54 billion for the CDA, while congratulating the civic body and noting that by auctioning 4 properties, the administration brought in a whopping Rs. 11.95 billion
CDA auctioned six plots of real estate: 2 in Sector I-14, 1 in each of I-8 and G-9 and 2 more in Blue Area.
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
According to a story from earlier this week, the CDA was planning to raise Rs. 20 billion through auction of 47 plots including commercial, fruit, poultry and vegetable plots.
Moreover, Usman mentioned the strong start of the auction in a subsequent tweet.
A total of Rs. 1.3 billion was paid for two plots in I-14 Markaz as it also said that one plot in I-8 Markaz with a reserved price of Rs. 1.2 billion will probably get Rs. 1.5 billion in auction.
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
Besides, Captain (r) Muhammad Usman Younis, a BS-20 officer of the Pakistan Administrative Service (PAS), was dismissed from his post yesterday as a result of an alleged conflict of interest between a prominent businessman and a local politician.
It is worth mentioning that since last August he held the positions of Commissioner and President of CDA in Islamabad.