CDA Approves Sale of Residential and Commercial Plots Worth Rs.41 Billion

Recently, the Board of Governors of the Capital Development Authority (CDA) approved the auction of residential and commercial land which was sold at a staggering price of Rs 40.95 billion. 

This decision was made to preserve the city’s cash flow for ongoing and upcoming development projects.

The CDA Board normally accepts auction results within a few days, but this time it took longer due to a discussion about the reserve price of the Blue Area lot.

Thirteen new feeder bus routes have been approved by the CDA board. Instead of purchasing buses from the private sector, they will lease them from the National Radio Communications Corporation (NRTC) using government-to-government contracts. 

Widening a portion of the Srinagar Highway and building an underpass near the Serena Hotel to ease traffic was also a key decision adopted by the CDA Board. 

Consultants are working on a feasibility report and design for the extension of the Srinagar Highway from the 7th Avenue Interchange to the Serena Hotel, where this underpass will also be built.

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