CDA expects to generate over Rs15bn from plots` auction in July.

ISLAMABAD -- City managers are expecting to collect over Rs15 billion from next month`s auction of Blue Area`s commercial plots.

Capital Development Authority (CDA) is all set to auction over 20 plots of Blue Area`s G-9 strip, opposite to F-9 park on July 15, 16 and 17. For the annual budget 2020-21, CDA had estimated revenue of Rs24 billion from auctions of plots located in various areas of the capital.

According to the budget document, CDA had estimated to generate Rs8 billion after auctioning of theBlueAreaplots.However,talking to Dawn, CDA of ficers said that the civic agency hopes to receive over Rs15 billion from the auction as Blue Area, being the central business district of the city, was always a priority for businessmen and investors.

`We are expecting over Rs15 bil-lion from this auction, 30 forms have already been sold and we have over 20 more days to sell more forms,` a CDA official said.

This auction had been slated for April but because of the coronavirus pandemic, CDA had to postpone it, hence it is being held next month.

Sources said that the government had been pushing civic authority to auction the Blue Area plots as it wanted to financially assist the New Pakistan Housing Development Authority (NPHDA) from a portion of revenue generated from the auction.

Prime Minister Imran Khan also visited the site on March 1 where he was briefed by the CDA and NPHDA chairmen about the plots.

However, it...

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