The Capital Development Authority (CDA) has announced its plans to launch a highly anticipated auction of both commercial and residential plots in various sizes and categories. This event is scheduled to take place from 17 to 20 October at Jinnah Convention Centre, marking a significant effort to bolster departmental revenues and entice investors to participate.
An official statement from the CDA emphasized the lucrative nature of this opportunity for prospective investors. The auction, spanning numerous sectors within Islamabad’s capital territory, will present coveted plots in prime locations, including the 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 areas, Hostels, Residential districts, and I-11 Markets.
Interested parties can access brochures starting from October 2 through the CDA’s one-window directorate and select branches of prominent banks, such as HBL, UBL, MCB, Askari Bank, and Bank of Punjab. Additionally, all information will be readily available on the official CDA Website.
The CDA has introduced several investor-friendly measures, including the presence of facilitation teams at every stage to assist investors. Payment of 25 percent of the bid amount within 30 days of bid acceptance, along with pro-rata advance tax collection, building plan approval, and construction initiation after full payment, are part of the streamlined process.
Moreover, investors can benefit from a 10 percent rebate for full payments made within 30 days of bid acceptance, with an additional 5 percent rebate applicable for payments in US Dollars. With this enticing auction, the CDA aims to harness the potential of Islamabad’s real estate market and foster economic growth.