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Cabinet Division Housing Scheme E16/E17 to Auction Commercial Plots

Cabinet Division Housing Scheme Islamabad

Cabinet Division Employees Cooperative Housing Scheme (CDECHS) has published an advertisement in the local newspapers regarding auction of commercial plots in its housing scheme in sector E-16 and E-17 Islamabad.

According to the advertisement, CDECHS is going to auction a limited number of fully developed commercial plots in its housing scheme on 10th March, 2018.

Following are the terms & conditions of the auction:

1- All Pakistani nationals living in Pakistan or abroad and all companies registered in Pakistan can participate in the auction.

2- Interested bidders must submit one lac rupees via pay order/demand draft along with cnic copy in advance against each plot.

3- Auction committee reserves the right to reject or accept any offer without explicit reasoning.

4- Auction committee’s decision to approve maximum bid will depend on the approval of management committee.

5- Successful bidder must submit 40% of the plot amount within 15 days of the auction, while remaining 60% amount will be payable in 2 installments over a period of 3 months.

6- Failure to pay the remaining amount will result in cancellation of plot allotment, and submitted amount will be confiscated by the society.

7- Builders will follow the building bye-laws of CDA/Society for construction on the commercial plots.

A copy of the newspaper advertisement is attached below:

CDECHS Commercial Plots Auction