KARACHI: The Karachi Development Authority (KDA) has completed the first auction phase of 47 commercial plots on Wednesday.
In the first phase, KDA auctioned 18 plots in Korangi and eight plots in Surjani Town in the metropolis. The total revenue for KDA from the auction of plots in Korangi is likely to be more than 202.6 million.
While the total revenue for KDA from the auction of plots in Surjani is expected to be more than Rs. 132.6 million.
The public auction of Korangi Township and Surjani Township commercial plots held. It includes 17 commercial plots of Korangi Township measuring 40sq yards to 300sq yards. The security deposit for each plot is Rs500,000.
There are eight commercial plots in Surjani Township. Ranging from 250sq yards to 800sq yards, their security deposit is Rs500,000.
On this occasion talking to MM News, the participants said that the attitude of the organizers was not appropriate. “We were called at 10 am and are still receiving pay orders from people,” they said.
On April 22, in the second phase, the KDA will auction 23 commercial plots in North Karachi Township, Old Nazimabad, Clifton and Gulistan-e-Jauhar.
Seven commercial plots are to be auctioned in North Karachi Township. They measure up to 150sq yards. The security deposit for each plot is Rs500,000.
A commercial plot of 600sq yards in Old Nazimabad will be up for auction on April 22. Its security deposit is Rs1,000,000. A commercial plot of 400sq yards is available in Clifton too. The security deposit for the plot is Rs1,000,000.
Thirteen commercial plots of 400sq yards will be up for auction in Gulistan-e-Jauhar. The security deposit for each plot is Rs1,000,000.
Unsuccessful bidders will be returned their pay orders on the completion of auction proceedings. The auction will open at 10 am. It will be held at the KDA Seminar Hall on the first floor of Karachi Civic Centre.