CDA to auction plots to alleviate ‘budgetary constraints’
- By Web Desk -
- Dec 27, 2023
ISLAMABAD: The Capital Development Authority (CDA) has decided to conduct an auction of plots in Islamabad, alleviating the budgetary constraints faced by civic body.
According to the CDA official, the plot auction is set to take place from the 10th to the 12th of January 2024 at the F9 Park in Gandhara Hall.
Plots located on Blue Area, Centers, and Park Road will be included in the auction.
The auction list includes petrol pumps, Class Three shopping centres, agro farms, and apartment plots, along with fruit and vegetable shops, IT centres, and hostel plots.
A substantial 10 percent discount will be applicable for complete payments made within one month of bid acceptance. Furthermore, approval for construction plans will be granted upon the first instalment payment.
Earlier in Oct, CDA said it generated over Rs10.94 billion by auctioning eight plots in 48 hours, earning acclaim from investors.
On the auction’s second day, Plot No 1, spanning 355.55 square yards in Sector G-6/1-1, fetched a sum of Rs. 602 million. Likewise, Plot No. N-1, covering 1066.66 square yards in Sector E-11, was successfully auctioned for Rs 1.24 billion.
A hostel plot spanning 1111.11 square yards in Sector G-7/3 secured a winning bid of Rs. 706 million. Similarly, another hostel plot, also measuring 1111.11 square yards and situated in Sector G-9/4, was successfully auctioned for Rs. 604 million.