CDA to offer special incentives for auction of 24 plots

CDA to offer special incentives for auction of 24 plots

ISLAMABAD: In a bid to attract investors for the auction of as many as 24 plots in Blue Area, the Capital Development Authority (CDA) is set to offer special incentives in accordance with the federal government’s directives.

Special media campaigns and roadshows at national as well as international level to spread the word about the lucrative package for the plots, which are located in the portion of Blue Area falling in sector G-9, on the southern side of Jinnah Avenue.

The contents of the package include a dedicated team to facilitate investors, 25% down payment within one month rather than the usual 10-day period, a 10% discount on full upfront payment instead of the current 5% offer and advance tax to be made proportional to the instalments instead of a one-time payment.

The proposal for the aforementioned incentives, presented by CDA’s Estate Wing, was approved in a recent board meeting, where it was decided that depending on the success of the venture, similar packages will be offered for the rest of the Blue Area as well.

Reportedly, the revenue generated from the auction would be spent on low-cost housing – including the relocation of slums – and on the rehabilitation of the federal capital.

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