CDA sells 7 commercial plots for Rs15.694 billion in public auction

Capital Development Authority holds the public auction of commercial plots and on the first day of the auction, 7 plots were sold for approximately Rs15.694 billion. The auction was supervised by Chairman CDA personally, reported 24NewsHD TV Channel. 

On the first day of public auction, plot No. B-1 of I-8 center was auctioned for Rs3.34 billion. Plot No B-4 of G-8 Center was auctioned for Rs 78.99 crore and Plot No. C-4 was auctioned for Rs 69.99 crore. Plot number 10 of G-9 center was auctioned for Rs 1.071 billion. Blue Area G-8 Commercial Plot No. 11 was auctioned for Rs 3.466 billion. Blue Area G-8 Commercial Plot No. 12 was auctioned for 4.199 billion F-7 Center Plot No. X. 13 for 2.12 billion.

The four-day auction of commercial plots will continue till February 28, 2025 at the Jinnah Convention Center. Commercial plots of Park Enclave including blue area, centers, industrial, apartments will be offered for auction in the 4-day public auction.

Chairman CDA said that the payment plan for commercial plots has been extended from one year to two years. Possession of plots will be given on 75 percent payment including approval of building plan on 25% payment. Similarly, 10 percent discount on lump sum payment and 5% discount on dollar payment has been provided. Blue area parking plaza shops including class three shopping centers will also be offered for auction in the auction. The auction is being supervised by the auction committee formed under the chairmanship of CDA Member Finance. 

CDA Chairman Muhammad Ali Randhawa said, “We all have to work together to make Islamabad a beautiful and modern city. All income received from auction will be spent on business centers of the city and development of the city”.