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July 12, 2020

CDA to hold commercial plots auction on July 15

Islamabad

July 12, 2020

Islamabad : The Capital Development Authority (CDA) has finalised preparations to hold auction of commercial plots in Blue Area on 15, 16 and 17 of this month.

The auction is being held in line with government policy to promote economic and investment activities in the country. Capital Development Authority is offering a wide variety of plots ranging between 600 square yards to 10,000 square yards for purposes ranging from petrol pump to hotel.

CDA is trying to attract maximum investors to participate in the auction. Print and electronic media advertisement campaigns are being run through leading newspapers and television channels for this purpose. Bill Boards have been installed in major cities including Lahore and Peshawar. Similarly banners and steamers have been installed across Islamabad.

According to CDA spokesman, the auction will be held at Jinnah Convention Center, Islamabad. Blue Area, New Vision is the badge of Capital Development Authority, which reflects foresight of Capital Development Authority administration regarding upcoming auction of New Blue Area plots because this will provide a unique opportunity for businessmen and investors to promote their businesses and brands in the newly developed business hub of the capital.

Capital Development Authority administration has taken special initiatives for prospective bidders, which include dedicated team to facilitate investors at every step, first installment of 25 per cent within 30 days of bid acceptance, building plan approval facility after first installment, 10 per cent discount on full payment in advance, advance income tax on pro rata basis and 100 per cent coverage for less than 1,000 square yards plots, 70 to 75 per cent coverage for plots size more than 1,000 square yards, every plot with all round circulation strip, ample public parking and application of newly developed building bye laws are also among special initiatives taken for investors for New Blue Area plots.

The development authority has constituted a committee consisting of 10 members to conduct the auction. Member Finance CDA will be chairman of the committee while Member Estate, Member P&D, DFA II, DG Law, Director Public Relations, Director Urban Planning, Director Regional Planning, Director EM II and Director Finance will be members of the committee.