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.
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, 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.
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. 🤞
Good going team CDA. Keep up the good work. #CDAAuction #CapitalDevelopment
— Muhammad Usman Younis (@CaptainUsman) January 24, 2023
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.
It is worth mentioning that since August of last year, he has held the positions of Chief Commissioner and Chairman of CDA in Islamabad.
Allah bless you captain. Be brave against the corrupt mafia.
CDA need to improve civic services as well, good to fetch high revenue.