CDA to open auction for commercial, residential plots from October 17

By APP
September 28, 2023

Islamabad:The Capital Development Authority (CDA) is all set to open an auction of commercial and residential plots of different sizes and categories, beginning on October 17 to 20 next month at the Jinnah Convention Centre, aiming to generate more revenue for the department and attract investors to participate in the auction.

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“The authority urged the interested investors to participate in the auction as it is a golden opportunity to acquire commercial and residential plots in the federal capital with complete legal protection,” an official told APP on Wednesday. He said the auction in various sectors of the Islamabad capital territory would continue till October 20, adding that the authority has already publicised the auction schedule of various plots in different newspapers and other social mediums.

The official said the real estate experts have announced it as a must-avail investment opportunity for investors nationwide and overseas. He said the plots located in Blue Area, Marakaz, E-11 Northern Strip, Park Enclave Commercial, Petrol Pumps, Class-III Shopping Centres, Agro Farms, Fruit and Vegetable Shops, IT Center (Commercial), Apartments, Industrial, Hostels, Residential and I-11 Markets. Interested people can obtain the brochures from the one-window directorate CDA and designated branches of HBL, UBL, MCB, Askari Bank, and Bank of Punjab from October 2, he added.

The facility was also available at the official website of CDA www.cda.gov.pk. About the special steps for prospective investors, he said that the presence of a facilitation team at every step for providing facilities to the investors. Payment of 25 per cent of the bid amount as the first instalment within 30 days of acceptance of a bid. The official said the advance tax would be collected on a pro-rata basis, after payment of the first instalment, building plan approval facility and construction work to be started after making full payment.

Furthermore, the official said that there would be a 10 per cent rebate on a full payment within 30 days of the bid acceptance letter and an additional 5 per cent rebate on payment in US Dollars.

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