Auction of residential and commercial plots continued under CDA

Capital Development Authority (CDA) continued the auction of residential and commercial plots in Islamabad on second day. 

The auction of residential and commercial plots will continue till December 24 at Jinnah Convention Centre. During the first two days, a total of Rs. 14.809 billion worth of plots have been auctioned so far. The process is being supervised by Chairman Auction Committee Member Finance Tahir Naeem and members of the Auction Committee. 

On the second day, Plot No. 12 of Sector D-12 Markaz was auctioned for Rs1.04 billion. Plot No. A-284 of Sector F-10/3 was auctioned for Rs. 24.60 crore. Thus, a total of Rs1.28 billion worth of plots were sold on the second day of the auction. 

On the first day of the public auction, plot number 15 incident (F-8/G-8) of Blue Area was auctioned for Rs 3.52 billion. Similarly, plot number 17 incident (F-8/G-8) of Blue Area was auctioned for Rs 9.15 billion. Plot No. C-37 of Orchard Scheme, Murree Road was sold for Rs. 42.2 million. Similarly, Plot No. D-37 of Orchard Scheme, Murree Road was auctioned for Rs. 42.2 million

Residential and commercial plots of various categories are being offered for investment in the auction. Various concessions and facilities are being provided to investors in the auction under investor-friendly measures.

An additional 5% discount will be given on payment in US dollars for commercial plots. A 5% discount will also be given on lump sum payment within 30 days of bid approval for commercial plots. 

Facilitation of building plan approval after first 25% payment. While possession of the plot can be obtained on payment of 75 percent. 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 and development of the federal capital, Islamabad, said the Chairman CDA.