The Capital Development Authority (CDA) has made a significant decision to auction commercial plots in Islamabad, opening up opportunities for businesses and investors.

The auction is scheduled to take place from May 29 to 31, offering a range of plots across various centers in the city, including the renowned Blue Area.

In addition to the Blue Area, plots from other prominent areas such as Park Enclave, Class III Shopping Centers, E-11, and F-11, will also be available for bidding. The auction will encompass not only commercial plots but also industrial plots, agricultural farms, and petrol pump plots.

To facilitate the process for interested buyers, the CDA has announced that building plans for the acquired plots will be approved once a 25% payment has been made.

Moreover, the CDA has decided to waive any fees associated with marketing or site offices, providing further incentives for potential buyers.

It is important to note that the payment for the plots acquired in the auction must be completed within one year from the date of purchase.

Buyers who opt for full payment within one month will be rewarded with a 10% discount on their purchase. Additionally, a 5% discount will be given to those making payments in dollars.

The CDA has also revised the construction periods for different plot sizes. For a 1000-yard plot, construction must be completed within 3 months, while a plot of 3000 yards requires construction to be finished within 4 years. Plots larger than 3000 yards will have a construction deadline of 5 years.

To ensure the smooth execution of the auction, the Chairman of the CDA has directed the State Wing and One Window to complete all necessary arrangements. This move signifies the CDA’s commitment to streamlining the process and providing a transparent platform for interested buyers to participate in the auction.

With this auction, the CDA aims to attract investors, promote economic growth, and contribute to the development of Islamabad’s commercial landscape. Prospective buyers are encouraged to seize this opportunity and participate in the auction, which promises to be a crucial milestone in the city’s progress.

Source: Pro Pakistani