ISLAMABAD: The Capital Development Authority (CDA) announced that it will auction commercial plots in the developed sectors of Pakistan.
According to sources, the auction will take place at the Jinnah Convention Centre in Islamabad and will spread over three days in the first week of May.
The civic authority has termed it a “golden opportunity” for Pakistanis along with overseas citizens. Since the auction offers legal protection, it is a lucrative opportunity for interested parties.
As per details, the plots are located in Marakaz, Agro Farms, E-11 Northern Strip, petrol pumps, Park Enclave Commercial, Class-III Shopping Center, Blue Area E-11/F-11, and Canopy Side.
Moreover, the CDA is providing a discount of 10% for making a full payment within thirty days of accepting the bid.
Furthermore, the initial payment of 25% of the bid amount must be paid within the same time frame.
In addition, once the first payment is made, the building plan will be approved, and construction work can begin upon full payment. CDA will not charge for site and marketing offices.
The estimated completion time is as follows:
The flexible completion period for commercial plots is as follows:
Up to 1,000 yards: 3 years
Up to 3,000 yards: 4 years
More than 3,000 yards: 5 years