CDA holds public auction of residential and commercial plots in Islamabad

Capital Development Authority (CDA) holds public auction of residential and commercial plots in Islamabad on Monday. Plots worth Rs 13.52 billion were auctioned on the first day of the bidding. 

The three-day auction of residential and commercial plots will continue till December 24 at Jinnah Convention Centre. 

Plot No15, F-8/G-8) of Blue Area was auctioned for Rs. 3.52 billion. Plot No17 in F-8/G-8 of Blue Area was auctioned for Rs. 9.15 billion. Plot No C-37 in Orchard Scheme, Murree Road, was sold for Rs. 42.2 million. Plot No D-37 of Orchard Scheme, Murree Road was auctioned for Rs. 42 crore. 

Residential and commercial plots of various categories are being offered for investment in the auction. Plots of various centers, E-11 Northern Strip, agro farms and petrol pumps will be auctioned in the auction. 

Similarly, the three-day auction of residential and commercial plots also includes shops built in the Blue Area. Residential plots of various sectors will also be auctioned in the auction. 

CDA's investor-friendly initiatives see strong investor participation in public auctions. Additional 5% discount on payment in US dollars for commercial plots while 5% discount on lump sum payment within 30 days of bid approval for commercial plots. CDA has offered facility of approval of building plan after first 25 percent payment while possession of plot can be obtained on 75% payment. 

The bids received will be presented before the CDA Board after thorough scrutiny, which is the authorized forum to approve or reject the bids. 

The proceeds received from the public auction of residential and commercial plots will be spent on the construction, development and beautification of the federal capital, Islamabad, said the Chairman CDA.