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CDA Auction,

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   MAS
Saturday, May 8, 2010 04:26 PM 
Reply: >
CDA has announced auction of residential plots in F-10, F-11, G-10 and D-12 on May 24, 2010. Commercial plots are being auctioned the next day. Info in brochure available at:

http://www.cda.gov.pk/cda-latest/documents/investment/150a.pdf
abd replied on Saturday, May 8, 2010 06:13 PM 

Dear MAS
Please contribute your expertise on the issue of sector E-12. Your experience and help is much needed.

Kindly view # 47504. Drop an email and your contact detail to Mr. Mian Nadeem so that we can contact and take your advice when needed.
Waseem Malik replied on Sunday, May 9, 2010 12:54 AM 

Mian Nadeem and abd Sahib,

There are regular visitors as well as casual visitors to this website, therefore, you have to remind about the plan to visitors particularly those who own plot(s) in sector E-12, at least twice a week.

I would also suggest briefly explaining the agenda and purpose of this platform.

Few years ago, I had knowledge about some of the plot owners of E-12. They own big size plots in E-12. They are retired Pakistan forces chiefs, ex ambassadors / bureaucrats. But I don’t have updated information about it. Once identified and approached, these people can be a great help to make a pressure group.

Once again, it’s a great initiative and I fully support it.
Be Careful replied on Sunday, May 9, 2010 03:07 AM 

Please be careful if you visit the auction site and are interested in buying. Following are the steps that CDA and its agents do to make fraud :

1. Announce or bid very high prices (nearly double) that of the plots, thereby creating a hike in the market
2. The agents and their staff is only there to bid a high price but they never pay the price. The prices in the bidding become reference and ordinary people get trapped and they pay more.

If anyone is interested in buying the plots please get it from the open market and from the genuine owners and not the dealers

Allah Hafiz
MAS replied on Sunday, May 9, 2010 04:36 AM 

Thank you Be-Careful for sharing your concerns about CDA’s auction. I am not here to defend CDA. It is good to be careful but I feel what you are saying is not easy to do. In order to be eligible to bid, you have to put one million rupees (two million for commercial) as security deposit. If you are bidding just to hike the price and nobody bids higher after you then you are stuck. You will then have to pay the full amount or you will lose (by law) your ten lakh rupees. So it is a big risk to try to hike the price this way.

The only way to avoid the one million penalty after a fake (but highest) bid is if CDA itself refuse to accept the (fake) bid later. Even when everyone in the decision chain is involved in such fraud (which is unlikely) if they accept a bid in a particular sector (from a genuine buyer) and refuse a similar or higher (fake but highest) bid on another plot in the same area it will immediately point to corruption and make a media story. They will never risk doing that.

I think one reason CDA fetches good price is because CDA usually saves good location plots for its auctions. The other reason is that ordinary people feel more comfortable dealing directly with CDA as there is no chance of fraud in transfer papers. Nevertheless Mr. Be- Careful‘s post is a good reminder that bidders should bid responsibly after checking the market.
MAS replied on Sunday, May 9, 2010 05:01 AM 

One more thing regarding CDA auctions. You pay the full amount over six months in installments. Even if you fail to make payments on time they usually accept late payments after charging interest (verify yourself).

Best wishes for E-12 owners. Waseem Malik is right you need influential people to be active on your side.
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