ISLAMABAD: The Capital Development Authority (CDA) has announced that it will hold an auction of commercial plots in developed sectors of Islamabad.
The auction will take place over three days in the first week of May at the Jinnah Convention Centre in Islamabad.
CDA is promoting the auction as a “golden opportunity” for both Pakistani and overseas citizens to invest in Islamabad, with complete legal protection.
According to the details, the plots being auctioned are located in prominent spots such as Marakaz, Agro Farms, E-11 Northern Strip, petrol pumps, Park Enclave Commercial, Class-III Shopping Center, Blue Area E-11/F-11, and Canopy Side.
CDA is offering a 10% rebate on a full payment within 30 days of bid acceptance.
Moreover, in order to make the process smooth for prospective investors, a facilitation team will be available at every step to provide facilities.
The first installment of 25% of the bid amount must be paid within thirty days of acceptance of the bid. Advance tax will be collected on a pro-rata basis.
After payment of the first installment, the building plan will be approved, and construction work can begin after making the full payment. CDA will not charge for site and marketing offices.
The flexible completion period for commercial plots is as follows:
- Up to 1,000 yards: 3 years
- Up to 3,000 yards: 4 years
- More than 3,000 yards: 5 years
Auction brochures will be available from the CDA one-window directorate and selected branches of Askari, UBL, HBL, MCB, and Bank of Punjab from March 25.
Source: Propakistani
