{"id":18136,"date":"2023-07-21T14:13:33","date_gmt":"2023-07-21T09:13:33","guid":{"rendered":"https:\/\/propakistani.pk\/proproperty\/?p=18136"},"modified":"2023-07-21T14:13:33","modified_gmt":"2023-07-21T09:13:33","slug":"first-day-of-capital-street-auction-in-islamabad-rakes-in-rs1-82-billion","status":"publish","type":"post","link":"https:\/\/propakistani.pk\/proproperty\/first-day-of-capital-street-auction-in-islamabad-rakes-in-rs1-82-billion\/","title":{"rendered":"First Day of Capital Street Auction in Islamabad Rakes in Rs1.82 Billion"},"content":{"rendered":"<p>ISLAMABAD: The Capital Development Authority (CDA) kickstarted its auction for the prestigious &#8216;Capital Street project in Islamabad, successfully selling 9 plots and generating Rs. 1.82 billion in revenue on the first day.<\/p>\n<p>The Capital Street project, encompassing an area of 27 acres, offers 50 one-kanal plots and 15 small shops in the picturesque locality of Shakarparian.<\/p>\n<p>In the initial phase, the CDA made 20 plots available for auction, inviting both national and international food brands to participate.<\/p>\n<p>Drawing inspiration from renowned destinations such as City Walk Dubai and Nizami Street Baku, Capital Street aims to create a vibrant food and entertainment hub in Islamabad.<\/p>\n<div style=\"clear:both; margin-top:0em; margin-bottom:1em;\"><a href=\"https:\/\/propakistani.pk\/proproperty\/cda-to-revive-abandoned-shakarparian-cultural-complex-project\/\" target=\"_blank\" rel=\"dofollow\" class=\"ucb5fab08136369e0ec9b4be10c2ddd6e\"><style> .ucb5fab08136369e0ec9b4be10c2ddd6e { padding:0px; margin: 0; padding-top:1em!important; padding-bottom:1em!important; width:100%; display: block; font-weight:bold; background-color:#2C3E50; border:0!important; border-left:4px solid #F1C40F!important; text-decoration:none; } .ucb5fab08136369e0ec9b4be10c2ddd6e:active, .ucb5fab08136369e0ec9b4be10c2ddd6e:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; text-decoration:none; } .ucb5fab08136369e0ec9b4be10c2ddd6e { transition: background-color 250ms; webkit-transition: background-color 250ms; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; } .ucb5fab08136369e0ec9b4be10c2ddd6e .ctaText { font-weight:bold; color:#F1C40F; text-decoration:none; font-size: 16px; } .ucb5fab08136369e0ec9b4be10c2ddd6e .postTitle { color:#eaeaea; text-decoration: underline!important; font-size: 16px; } .ucb5fab08136369e0ec9b4be10c2ddd6e:hover .postTitle { text-decoration: underline!important; } <\/style><div style=\"padding-left:1em; padding-right:1em;\"><span class=\"ctaText\">ALSO READ<\/span>&nbsp; <span class=\"postTitle\">CDA to Revive Abandoned Shakarparian Cultural Complex Project<\/span><\/div><\/a><\/div>\n<p>Each plot measures 500 square yards, with the provision to construct a ground plus one-story structure on 250 square yards, while the remaining land must be kept open.<\/p>\n<p>The project&#8217;s development guidelines restrict the use of these plots to cafes, restaurants, and bistros, disallowing any other commercial purposes.<\/p>\n<p>The first day of the auction witnessed significant interest from potential buyers, resulting in the successful sale of 9 plots, fetching the CDA an impressive Rs. 1.82 billion.<\/p>\n<p>The winning bids for the sold plots are as follows:<\/p>\n<ul>\n<li>Plot No. 1: Rs208.5 million<\/li>\n<li>Plot No. 2: Rs188.5 million<\/li>\n<li>Plot No. 3: Rs168.5 million<\/li>\n<li>Plot No. 4: Rs165 million<\/li>\n<li>Plot No. 5: Rs179 million<\/li>\n<li>Plot No. 6: Rs153 million<\/li>\n<li>Plot No. 7: Rs266.5 million<\/li>\n<li>Plot No. 10: Rs265 million<\/li>\n<li>Plot No. 11: Rs230 million<\/li>\n<\/ul>\n<p>However, some quarters have raised concerns about the legality of the project.<\/p>\n<div style=\"clear:both; margin-top:0em; margin-bottom:1em;\"><a href=\"https:\/\/propakistani.pk\/proproperty\/cda-seeks-permission-for-cricket-stadium-in-shakarparian-plans-supreme-court-review-petition\/\" target=\"_blank\" rel=\"dofollow\" class=\"u2ad8c33393384d7d67a7f1f4c0aa9058\"><style> .u2ad8c33393384d7d67a7f1f4c0aa9058 { padding:0px; margin: 0; padding-top:1em!important; padding-bottom:1em!important; width:100%; display: block; font-weight:bold; background-color:#2C3E50; border:0!important; border-left:4px solid #F1C40F!important; text-decoration:none; } .u2ad8c33393384d7d67a7f1f4c0aa9058:active, .u2ad8c33393384d7d67a7f1f4c0aa9058:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; text-decoration:none; } .u2ad8c33393384d7d67a7f1f4c0aa9058 { transition: background-color 250ms; webkit-transition: background-color 250ms; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; } .u2ad8c33393384d7d67a7f1f4c0aa9058 .ctaText { font-weight:bold; color:#F1C40F; text-decoration:none; font-size: 16px; } .u2ad8c33393384d7d67a7f1f4c0aa9058 .postTitle { color:#eaeaea; text-decoration: underline!important; font-size: 16px; } .u2ad8c33393384d7d67a7f1f4c0aa9058:hover .postTitle { text-decoration: underline!important; } <\/style><div style=\"padding-left:1em; padding-right:1em;\"><span class=\"ctaText\">ALSO READ<\/span>&nbsp; <span class=\"postTitle\">CDA Seeks Permission for Cricket Stadium in Shakarparian, Plans Supreme Court Review Petition<\/span><\/div><\/a><\/div>\n<p>The area falls within the Margalla Hills National Park, and critics argue that allowing commercial development contradicts prevailing laws.<\/p>\n<p>Besides, the region was originally categorized as a &#8220;Sports Centre&#8221; in the master plan of Islamabad, but in 1979, it was incorporated into the Margalla Hills National Park through an official SRO, imposing restrictions on its use.<\/p>\n<p>Despite this controversy, the CDA&#8217;s auction has shown significant promise in establishing Capital Street as a prominent destination for food and entertainment in Islamabad.<\/p>\n<p><em>Source: The Nation<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>ISLAMABAD: The Capital Development Authority (CDA) kickstarted its auction for the prestigious &#8216;Capital Street project in Islamabad, successfully selling 9 plots and generating Rs. 1.82 billion in revenue on the first day. The Capital Street project, encompassing an area of 27 acres, offers 50 one-kanal plots and 15 small shops in the picturesque locality of Shakarparian. In the initial phase, the CDA made 20 plots available for auction, inviting both\u2026<\/p>\n","protected":false},"author":3,"featured_media":12322,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-18136","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"img_urls":{"thumbnail":["https:\/\/propakistani.pk\/proproperty\/wp-content\/uploads\/2023\/03\/MCI-Cancels-Temporary-Permissions-for-Use-of-Open-Spaces-in-Islamabad.jpg",1000,560,false],"medium":["https:\/\/propakistani.pk\/proproperty\/wp-content\/uploads\/2023\/03\/MCI-Cancels-Temporary-Permissions-for-Use-of-Open-Spaces-in-Islamabad.jpg",1000,560,false],"full":["https:\/\/propakistani.pk\/proproperty\/wp-content\/uploads\/2023\/03\/MCI-Cancels-Temporary-Permissions-for-Use-of-Open-Spaces-in-Islamabad.jpg",1000,560,false]},"author_name":"Firas Qureshi","categories_name":["News"],"title_text":"First Day of Capital Street Auction in Islamabad Rakes in Rs1.82 Billion","related_stories":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/posts?filter&per_page=4&categories=5&exclude=18136","_links":{"self":[{"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/posts\/18136","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/comments?post=18136"}],"version-history":[{"count":0,"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/posts\/18136\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/media\/12322"}],"wp:attachment":[{"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/media?parent=18136"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/categories?post=18136"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/tags?post=18136"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}