CDA to Hold Open Plot Auction in October 2023
Capital Development Authority has announced yet another open plot auction in Islamabad. CDA has announced an open auction for residential and commercial plots in different areas of Islamabad. As per the details, this auction will be held in the Jinnah Convention Center in the next month.
According to the CDA officials, this is a perfect chance for investors to get their hands on residential and commercial properties in Islamabad that are free from any legal allegations. Furthermore, a large number of investors from different cities are interested in purchasing properties in Islamabad, as it is the federal capital and economic hub of the country.
Residential and commercial plots from the following areas of Islamabad will be presented for auction in this event by CDA:
- Sector I-11 Markaz
- Park Enclave Commercials
- Sector E-11 Northern Strip
- Blue Area
- Other major marakaz
The categories of plots offered by CDA are as follows:
- Petrol Pumps
- Residential Plots
- Commercial Plots
- Agro Farms
- Industrial Plots
- Plots for Fruit and Vegetable Shops
- Apartments
- Hostels
- Shopping Centers
- IT Center
Interested people can get brochures for this open auction from the CDA Head office, furthermore, they can also be obtained from specified branches of Habib Bank Limited, United Bank Limited, Askari Bank, and the Bank of the Punjab. The brochures will be available for purchase from 2nd October 2023. The auction will be held in Jinnah Convention Center Islamabad from 17th October to 20th October 2023.
Procedure for CDA Open Auction
Interested people need to follow the guidelines given below:
- A dedicated team for the facilitation will be available to help the people.
- Interested investors need to pay 25% of the total bid amount as the first installment, it is important to mention, that this will be payable within 30 days of bid acceptance.
- Advance tax will be applicable on the pro-rata basis
- The building plan will be approved by CDA after submission of the first installment (25% of the bid amount).
- Construction can be started after paying the full amount against the property.
Note
CDA has also announced a discount of 10% in case of full payment within 30 days, and a 5% discount if a customer pays in US Dollars.
Stay tuned to Manahil Estate for more updates from the property sector!
