CDA fetches Rs696 million for 20 residential plots.

ISLAMABAD -- The first auction of plots of the fiscal year in the federal capital got encouraging responses with the authority managing to sell some 20 residential plots, raising Rs696 million.

The auction also showed greater investor interest in Sector D-12/1 as all the plots offered there were sold.

The Capital Development Authority (CDA) kick-started its three-day annual auction of plots at the Jinnah Convention Centre on Tuesday. In the first phase, it offered as many as 32 residential plots in different parts of the federal capital including nine in Sector D-12/1, five in Sector D-12/3, five in Sector F-10/2, two in Sector F-11/2, and 11 in Sector G -10/2.

Of those plots on offer, the CDA managed to sell six of the plots offered in Sector G-10/2. Both the plots offered in Sector F-11/2 were sold while a further two plots were sold in Sector F-10/2 and Sector D-12/3.

All nine plots on offer in Sector D-12/1 were sold

Details of the plots that were sold were corner plot 237 in Sector G-10/2 measuring 233.33 square yards (sqyds) was sold for Rs120,000 per sqyds for a total value of Rs28 million. Its adjoining plot 238, measuring 233.33 sqyds received a bid of Rs112,000 per sqyds for a total value of Rs26.133 million.

Plot 239 on the same street in Sector G-10/2, measuring 233.33 sqyds received a bid of Rs111,000 per sqyds for a total value of Rs25.9 million. Adjoining plot 240, measuring 233.33 sqyds was sold for Rs111,000 per sqyds for a total value of Rs25.9 million.

For plot 241, on Street 19 of Sector G-10/2, measuring 233.33 sqyds, received a bid of Rs110,000 per sqyds for a total value of Rs25.67 million. Its adjoining plot 242, measuring 233.33 sqyds was sold for Rs111,000 for a total value of Rs25.9 million.

Two of the biggest plots on offer in the auction were also sold. The first of these was the corner and road-facing plot 1, in Street 3-A of Sector F-10/2, measuring 600 sqyds. It was sold for Rs163,000 per sqyds for a total value of Rs97.8 million. Similarly, its adjoining plot 2, also measuring 600 sqyds, received a slightly lower bid of Rs153,000 per sqyds for a total value of Rs91.8 million.

Similarly, Plot 155-C in Street 20 of Sector F-11/2, measuring 400 sqyds, received a bid of just Rs121,000 per sqyds for a total value of Rs48.4 million. The auction was a surprise for Sector D-12 where all but three of the plots offered were sold and in some cases, the value fetched by these plots was comparable to those fetched by...