CDA Announced Open Auction Of Plots From Oct 17

News Desk

Islamabad: The Capital Development Authority (CDA) is ready to open an auction of commercial and residential plots of different sizes and categories, aiming to generate more revenue for the department and attract investors to participate in the auction.

The auction will begin on October 17next month at the Jinnah Convention Center.

The auction in various sectors of Islamabad would continue until October 20, and the authority has already publicised the auction schedule of various plots in different newspapers and other social media, said CDA official on Wednesday.

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, stated official.

The special steps for prospective investors include the presence of a facilitation team for providing facilities to the investors, payment of 25 percent of the bid amount as the first instalment within 30 days of acceptance of bid

The official told that the advance tax would be collected on a pro-rata basis after payment of the first instalment, the building plan approval facility would be there and construction work to be started after full payment.

Moreover, there would be a 10 percent rebate on a full payment within 30 days of the bid acceptance letter and an additional 5 percent rebate on payment in US dollars.

The real estate experts have announced it as a must-avail investment opportunity for investors nationwide and overseas, official added.

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 would be up for auction, he informed.

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 is also available at the official website of CDA www.cda.gov.pk.