The Capital Development Authority (CDA) has decided to conduct an auction of plots in January 2024, alleviating the budgetary constraints faced by it.
According to the CDA, the plot auction is set to take place from the 10th to the 12th of January at the F9 Park in Gandhara Hall.
Plots located on Blue Area, Centers, and Park Road will be included in the auction.
The auction list features a diverse range of properties, including petrol pumps, Class Three shopping centers, agro farms, and apartment plots, along with fruit and vegetable shops, IT centers, and hostel plots.
To facilitate this initiative, the CDA emphasizes the necessity of collecting 25 percent of the bid amount within one month. In the case of payment in dollars, a 5 percent discount will be granted.
A substantial 10 percent discount will be applicable for complete payments made within one month of bid acceptance. Furthermore, approval for construction plans will be granted upon the first installment payment.
The Capital Development Authority, grappling with financial challenges in recent months, has had to pause work on new developmental projects due to budgetary constraints. The delay in payments to contractors has been a direct result of the financial crisis.
However, this decision to auction plots not only provides a viable solution to the budget shortfall but also serves as a potential catalyst for economic revival. With the incentive for swift payments, the CDA aims to kickstart construction projects on the plots promptly.
