0345-5222253 |   marketing@manahilestate.com | Login | Register

CDA Announces Auction Schedule of New Blue Area Commercial Plots

New Blue Area Islamabad

Capital Development Authority has announced the auction schedule of commercial plots in New Blue Area Islamabad. These commercials are dubbed as central business district commercials or CBD commercials. This is the lifetime opportunity for businesses and investors to own a plot in this commercial nerve center of Islamabad. 

Auction Venue and Schedule

The auction for commercial plots of new blue area will be held at Jinnah Convention Center Islamabad on 14th, 15th and 16th of April, 2020. The bidding process will start from 10:00 am onward.

Commercial Significance of New Blue Area

Jinnah Avenue is the busiest artery of Islamabad which portrays significant commercial value. Hundreds of thousands of people visit this location on daily basis. Almost all big companies have their head offices in this area, and many would be waiting to open up if they find some vacant place on this busiest location of Islamabad.

This location is most suitable for the following business types:

  • Shopping Malls
  • Hotels
  • Food Arenas
  • Petrol Pumps
  • Corporate Offices
  • Banks

Moreover, due to having a prime location, these commercial plots may also be utilized for multi-storey luxury apartments complex projects.

Commercial Plot Sizes

CDA is going to carve out different commercial plot sizes in the new blue area of Islamabad. Minimum plot size is 600 Square Yards, i.e. 1.2 Kanal and maximum plot size is 10,000 Square Yards, i.e. 20 Kanals.

You may download the list of plot numbers with sizes below:

New Blue Area Plots

Prices and Payment Plan

There is no information available as to the minimum bid price of plots. Considering the prevailing market prices in Blue Area Islamabad, which is more than 10 lacs per square yards, we can expect minimum bid rate to be substantially high.

There is no exact information available as to the payment plan of these commercial plots. You may have to submit some token money (refundable) before the auction, that will be adjustable in the down payment of the plot.

The schedule is expected to span over 4 installments of 25% each. First installment will be payable within 30 days of receiving Bid Acceptance Letter, while remaining will be payable as per schedule specified by CDA.

It is also important to mention here that CDA offers 10% discount on the bid value in case you pay full amount upfront.

Construction Policy

CDA has outlined the construction policy on these commercials through its advertisement. The new building by-laws will apply on this commercial area, so hi-rise projects will be allowed. Building plans can be submitted for approval after paying first installment, however construction work can be started after full and final payment.

The plots below 1000 Square Yards will have 100% coverage for construction, while bigger plots will have 70% to 75% ground coverage. Each plot will have all round circulation strip. Ample public parking area has also been planned in New Blue Area.

How to Take Part in the Auction?

You can take part in auction by depositing earnest money/token amount to CDA. Project brochures will be available from 5th of March 2020 from designated branches of MCB Bank, Askari Bank, UBL Bank, HBL Bank and Bank of Punjab. Interested parties may need to submit a sum of money as token amount along with their application. 

Following is the list of designated bank branches across Pakistan:

Designated Bank Branches

A dedicated team of CDA officials will facilitate interested bidders at every step of the auction, so you can call their number or visit personally to any assistance regarding the auction process or information on new blue area project.

Following is the address and number of relevant department in CDA:

Director Estate Management-II

Address: Khayaban-e-Suharwardy, G-7/4, Islamabad

Phone: 051-9252481

In case you need to assistance in small investment options in New Blue Area Islamabad, feel free to send us whatsapp message at 03455222253.

Leave a Reply

avatar
  Subscribe  
Notify of
×