ISLAMABAD: The Capital Development Authority (CDA) has decided to have an independent evaluator assess all bids from a recent plot auction.
According to standard procedure, after receiving bids, they are presented to the CDA board for approval.
The recent auction, which was considered the largest to date, resulted in the CDA collecting Rs 41 billion from 42 plots.
One of the plots, a 5,952 square yard plot in the F-7 section of the Blue Area, fetched Rs 8.54 billion.
However, there was controversy surrounding this plot’s auction, as the media questioned how a plot in the F-7 section of the Blue Area could be sold at a lower price compared to plots in the F-8 and F-9 sections.
There were also inquiries about the formula used to determine the reserved prices of the plots.
When reached for comment, CDA spokesperson Syed Asif Raza stated that the auction was conducted in a transparent manner, following established rules and regulations.
He added that, despite the current economic situation, the CDA was able to auction 42 plots without implementing an amnesty scheme.
Sources have indicated that, due to the questions raised, the CDA management has decided to have all bids evaluated before the next board meeting.
The evaluator’s report and details of the bids will be presented to the board for final approval.
The board meeting was originally scheduled for Friday, but has been postponed until the evaluation process is complete. The evaluation is expected to be finished within a week.
