ProPropertyNewsCDA Auctions Off Most Expensive Plot in F-7 at Rs. 8.54 Billion

CDA Auctions Off Most Expensive Plot in F-7 at Rs. 8.54 Billion

ISLAMABAD: The most expensive plot in CDA history was successfully auctioned off, according to Captain (r) Muhammad Usman Younis, the former CDA Chairman, and Chief Commissioner of Islamabad.

The sources informed that a 5,952 square yard plot in the Blue Area (F-7/G-7) section was auctioned for Rs 1.435 million per square yard, bringing in a total of Rs. 8.54 billion.

As per the details, Usman said on Twitter that the transaction brought in Rs. 8.54 billion for CDA while complimenting the civic body and noting that by selling 4 properties at auction, the administration altogether brought in a whopping Rs. 11.95 billion.

The CDA sold six plots of property at auction: 2 in Sector I-14, 1 in each of I-8 and G-9, and 2 more in the Blue Area.

According to a story from earlier this week, CDA planned to raise Rs. 20 billion through the auction of 47 plots, including commercial, orchard, poultry, and vegetable plots.

Furthermore, Usman mentioned the auction’s strong start in a subsequent tweet.

A total of Rs. 1.3 billion was paid for two plots in I-14 Markaz as he also mentioned that a plot in I-8 Markaz with a reserved price of Rs. 1.2 billion is probably going to get Rs. 1.5 billion at auction.

Besides, Captain (r) Muhammad Usman Younis, a BS-20 officer of the Pakistan Administrative Service (PAS), was let go from his position yesterday as a result of an alleged conflict of interest between a prominent businessman and a local politician.

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It is worth mentioning that since August of last year, he has held the positions of Chief Commissioner and Chairman of CDA in Islamabad.

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