The Capital Development Authority (CDA) sold four more plots on the second day of the ongoing auction.
In a press release, the civic authority stated that it received a healthy response on the second day as well. During the first couple of days, CDA has earned Rs. 10.94 billion from the auction of eight plots.
The auction, held at the Jinnah Convention Centre, will conclude on October 20. Sharing the details about the plots sold on day two, the authority revealed that plot No. N-1 located in Sector E-11 fetched the highest amount, 1.24 billion rupees.
Similarly, Plot No. 1 measuring 355.55 square yards in Sector G-6/1-1 was sold for Rs. 602 million. Meanwhile, the hostel plot measuring 1111.11 square yards was auctioned for Rs. 706 million, and another hostel plot for Rs.604 million.
It should be noted that the CDA had earned Rs. 7.74 billion on the first day of the auction. Plot No. 8 was sold for Rs. 4.45 billion and other plots including 53F, 53D, and Plot No. 28 were sold for Rs. 1 billion 42 lac, Rs. 1 billion 90 million, and Rs. 1.16 billion, respectively.
The auction is being supervised by the auction committee headed by the Member Estate. The bids received after thorough scrutiny will be placed before the CDA Board, which is the competent forum to accept or reject the bids.
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Where that 10 Billion Rupees will go?. Who will make sure that this will not go into some pockets?. Also when CDA will sell all government land then what the future governments will do?. Future governments will have nothing to sell.