| Islamabad: The Capital Development Authority (CDA) Board has formally approved the transfer deeds and bids for the plots auctioned last month, news sources reported on February 21.
Read: CDA to get auctioned plots’ bids assessed by independent evaluator
The CDA board approved the transfer of land and the issuance of transfer deeds to successful bidders who have submitted the total bid amount. According to sources, the board took notice of the delay in issuing transfer deeds for plots sold in various sectors.
During the board meeting, it was reported that the CDA’s third auction was one of the highest-grossing auctions, raising PKR 41 billion from the sale of 42 plots. The members were informed that the auction was conducted transparently and that all plots received bids above the reserve price. The board also announced that the CDA will hold another auction of various commercial and residential properties exclusively for non-resident Pakistanis (NRPs).
Read: CDA fetches record funds of PKR 41 bn from 3-day auction
It is important to note that the CDA is an independent and autonomous regulatory body responsible for overseeing the development of the capital city. The authority raises funds for roads and civic infrastructure by auctioning valuable land in various sectors of the city. This third auction has raised the highest-ever funds for the authority during its three-day event held last month. |
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