CDA will auction off commercial parcels next month

The Capital Development Authority (CDA) is going to auction off commercial plots in Slamabad next month. The auction is expected to bring in PKR 20 billion. This was reported by the national dailies on November 24.

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According to the facts, the CDA is selling the plots to pay for development and other costs. However, the authority doesn’t know how many plots are still for sale. Since the government agency couldn’t make a digital record of the plots that could be sold, it makes a list of the plots that will be up for auction before each auction.

A senior official of the estate wing said that there are many commercial plots in old residential sectors (F-6 and F-7), but the city managers don’t have complete data. If the government knew about these plans, they could make better plans and make more money. He went on to say that plots in old areas cost more than plots in new or less-developed areas, which costs the government billions of rupees.