ISLAMABAD: The Capital Development Authority (CDA) is set to conduct an auction of 47 plots, including commercial plots, orchards, and poultry and vegetable plots, after a period of nearly one and a half years.
The auction will take place amid an uncertain economy and rising construction costs.
The CDA management is uncertain of the earnings from the auction, but Chairman Captain (r) Muhammad Usman Younis is hopeful of earning at least PKR 20 billion.
The official in charge of the estate wing of the authority claims that the terms and conditions for building on the plots are investor-friendly, with permission for 100% coverage for plots less than 1,000 square yards and 70-75% ground coverage for larger plots with a flexible number of stories.
Additionally, the construction timeline on larger plots has been extended from three to five years.
The auction is expected to attract interest in orchard plots and a plot on Murree Road, as well as 12 residential plots in Park Enclave.
CDA has made preparations for the auction by publishing brochures and displaying advertising banners and streamers across the federal capital.