CDA auctions from the most expensive plot in F-7 at Rs. 8.54 billion

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.

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.

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.



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