CDA Set to Earn Billions Through Auction of Commercial Plots Yet Again

Commercial plots in Islamabad are up for auction, organized by the Capital Development Authority (CDA).

The first day of the auction witnessed significant investor participation. A 711.11 square yard plot in sector D-12 was successfully auctioned for Rs 89 crore.

The open auction of plots will continue until May 31, providing opportunities for interested buyers. The auction includes plots in various sectors of Islamabad, such as Blue Area, Park Enclave, Class III Shopping Centers, E-11, and F-11.

Industrial plots, agricultural farms, and petrol pump plots are also included in the auction. After making a 25% payment, buyers can have their building plans approved by the CDA. The CDA will not impose any fees for marketing or site offices related to the auctioned plots.

Buyers must complete the payment for the acquired plots within one year, as per the CDA’s regulations. A 10% discount will be provided for full payment made within one month, as offered by the CDA. A 5% discount will be granted for payment made in dollars, according to the CDA’s terms.

The construction period has been extended for larger plots, with a requirement to complete construction within three months for 1000-yard plots, four years for 3000-yard plots, and five years for plots larger than 3000 yards, as directed by the CDA.

Published by
ProPK Staff