The Capital Development Authority (CDA) has planned to launch 10 new residential sectors and auction 200 plots in Sector C-14 to boost its revenue.
While the CDA chief previously announced a halt on auctioning prime commercial plots, preparations are now underway to auction more than 35 commercial plots owned by the CDA in Blue Area and other key commercial centers.
According to sources, brochures are being prepared for the auction of 200 plots in Sector C-14, each measuring one kanal. The proposed price for each plot will be set between Rs50 to Rs60 million. Interested buyers will need to deposit 25% of the total cost with their applications, which will be refundable if a plot is not available.
The auction will be conducted through balloting. Around 70% of the development work in Sector C-14 is reportedly complete, with work on the sewage system still in progress. Successful bidders will be required to pay the full price to the CDA in equal installments over two years. The CDA plans to invite applications for these plots later this month.
Sources further indicate that 10 more sectors will be launched by the next financial year. After allocating plots to landowners in exchange for the acquired land, the remaining plots will be auctioned to the public. The open balloting will be held at the CDA headquarters in the presence of applicants, with NADRA involved to ensure transparency.
The new sectors include C-13, C-14, C-15, C-16, I-12, E-12, D-13, D-14, F-13, and E-13.
The primary purpose of auctioning the remaining plots, after fulfilling land acquisition agreements, is to provide residential facilities to the public while maximizing revenue for the CDA. The current CDA administration urgently needs funds for over 10 development projects, prompting efforts to attract Chinese investment.
Last week, the CDA chairman visited China to discuss and initiate development projects in collaboration with the China Investment Corporation (CIC). Prime Minister Shehbaz Sharif also held meetings with Chinese investors for this purpose.
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What about G 12 sector
Rs. 50-60 million… meaning more for the already rich and nothing for the common man 👍
Cda hasn’t been able to complete the work on park scheme 3 how can they entangled more on their so called sectors making drama with nation.
Dear Rija,
Please do some more training so that you understand that it is far beyond the pay scale of a clerk like the current chairman’s CDA to discuss with a foreign entity or country about any matter be it trivial or of vital importance.
And the prime minister who “also visited” is the one doing the actual visit. While the clerk, read chairman CDA, is there to carry the record files and stationary for the use of the prime minister of Pakistan.
All citizens of the God gifted country should have the right to the land in the beautiful capital and not only the super rich class. Plots should be under a fairly evaluated price through balloting to give chance to all segments to apply for plots of their category.
More corruption, more loans, more chaos.
Is this fake or true
CDA and FBR are. Neck to Nack in competition to excell as the top corrupt establishment in the country.
Bhai pehly G14 ka bhi kuch kro yar
Bhai pehly G14 ka kuch kro yar, agr kuch ni krskaty tou paisay refund krdou
It will take another 60 years