Everyday News

CDA Announces Dates for Auction of Commercial Plots in Islamabad

ISLAMABAD:  The Capital Development Authority (CDA) has announced the dates for the auction of commercial plots in Islamabad, including the prestigious Blue Area.

invest with imarat

Islamabad’s emerging city centre

Learn More

The highly anticipated auction is scheduled to take place from May 29 to 31, presenting a diverse array of plots across various key centres within the city.

The auction will encompass not only Blue Area but also feature plots from other prominent areas such as Park Enclave, Class III Shopping Centers, E-11, and F-11, expanding the possibilities for interested bidders.

Furthermore, the auction will not be limited solely to commercial plots; it will also include industrial plots, agricultural farms, and petrol pump plots, broadening the range of investment opportunities.

To streamline the process and facilitate potential buyers, the CDA has introduced a favourable policy. Building plans for the acquired plots will be approved once a down payment of 25% has been made, ensuring buyers can swiftly proceed with their development plans.

Moreover, the CDA has taken an extra step to incentivize prospective buyers by waiving any fees associated with marketing or site offices. This move aims to alleviate financial burdens and attract a higher number of participants to the auction.

It is crucial to note that payment for the acquired plots through the auction must be completed within one year from the date of purchase. Buyers who opt for full payment within one month will receive an enticing 10% discount on their purchase, serving as a reward for prompt transactions.

Additionally, those making payments in dollars will benefit from a 5% discount, further encouraging international investors to seize the opportunity.

Recognizing the importance of timely development, the CDA has revised the construction periods for different plot sizes. For plots measuring 1000 yards, construction must be completed within a swift timeframe of 3 months.

Similarly, plots of 3000 yards demand completion within a period of 4 years.

For plots larger than 3000 yards, developers will have a more extended construction deadline of 5 years, providing flexibility while ensuring progress in line with the city’s development goals.

 

Laila Waqar

Laila Waqar is the Content Lead at Graana.com. With a bachelor's degree from LUMS, her expertise lies in curating research-based content in line with market marketing requirements. She is a detailed-oriented professional who focuses on delivering quality content that is enlightening and engaging.

Recent Posts

Garha Mor: A Notable Landmark in Vehari City

Garha Mor, a notable landmark in Vehari, Punjab, Pakistan, is significant in its location, accessibility,…

22 hours ago

Aslam Market Wah Cantt: Pleasure of Shopping & Dinning

Located in the center of Wah Cantt, Aslam Market is a vibrant commercial hub that…

2 days ago

Abid Market Lahore: An Iconic Shopping Landmark

Located in the bustling heart of Lahore, Abid Market is a landmark shopping area well…

3 days ago

CDA Chairman Urges Rapid Completion of Major Islamabad Interchanges

ISLAMABAD, Nov 16 (APP): The Chairman of the Capital Development Authority (CDA), Muhammad Ali Randhawa,…

3 days ago

IMARAT Announces Launch of Pakistan’s Largest Sharia-Compliant REIT – A New Era of Real Estate Investment

Islamabad, Pakistan— IMARAT Group, a leading real estate developer and innovator in Pakistan, announces the…

3 days ago

Amma Tower: A Landmark in Urban Living & Commerce

Amma Tower, located in the bustling area of Saddar in Karachi, is a unique blend…

4 days ago