CDA to Hold First Auction of FY 2024

News Desk

Islamabad: Nauman Khalid, a Member of Technical and Digitization of the Capital Development Authority (CDA), said on Saturday that the authority would hold the first action on the plots on January 10, 11, and 12 in F-9 Park, Islamabad.

He and his team visited the Islamabad Chamber of Commerce and Industry (ICCI) and briefed the business community about the auction of CDA plots, according to a press release.

CDA would auction a total of 35 plots, out of which 11 would be auctioned on the first day, 10 on the second day, and 14 on the third day, he added.

The categories of plots include Marakaz, Blue Area, Park Road, apartments, hotels, petrol pumps, hospitals, timber, agro-farms, I&T Centres, Aabpara Market, Class-III shopping centres, and revision of deferred plots, he added.

Nauman Khalid said that CDA would give possession of auctioned plots on payment of 75 percent of the premium, while a 10 percent rebate would be given on payment of the lump sum amount.

He also briefed the business community about various development initiatives of CDA, including the development of a cycling lane in Islamabad to reduce traffic congestion, the introduction of more bus routes, digitization of land records, automation of approval of building plans, and automated parking. 

He said that ICCI should cooperate with CDA to make the auction successful. He said that ICCI should give a list of prioritised issues in the business community, and CDA would form a team to address them.

Ahsan Zafar Bakhtawari, President, ICCI, said that CDA should ensure the provision of all required infrastructure and civic amenities for the plots being auctioned to save the investors from unnecessary problems.

He urged the CDA to introduce mobile apps to provide online services to the business community and the citizens regarding the approval of building plans and other plot-related matters.

He also urged ICCI to set up its Facilitation Desk to facilitate the business community in CDA-related affairs, besides the replacement of old sewerage lines with new ones and the development of markets. He assured ICCI that it would cooperate in mobilising investors for active participation in the CDA’s auction of plots.

Engr. Azhar ul Islam Zafar, Vice President ICCI, shared many useful ideas to make the auction process of CDA more attractive, which would get the attention of local and foreign investors.