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:
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