Islamabad:The three-day auction being organised by the Capital Development Authority(CDA) commenced on Monday with a success note as the CDA committee on the first day, auctioned four plots including two commercial plots in Blue Area for 13.52 billion.
The Blue Area plot number 17 located in (F-8/G-8) measuring 3466.66 square yards was auctioned for 9.15 billion. Another plot number 15 (F-8/G-8) measuring 1333.33 square yards fetched Rs3.52 billion.
Meanwhile, plots number 37 C and 37D of the Orchards Scheme, Murree Road, were auctioned for Rs422 million and Rs420 million. The three-day auction of residential and commercial plots will continue at the Jinnah Convention Centre until December 24. Plots of various categories of residential and commercial plots are being offered for investment in the auction.
Plots for various centers, E-11 Northern Strip, Agro Farms, and petrol pumps will also be auctioned. Similarly, constructed shops in Blue Area are also included in the three-day residential and commercial plot auction, while residential plots from various sectors will also be put up for public auction.
The CDA spokesman said under CDA's investor-friendly initiatives, many concessions and facilities have been provided offered to them active participation in the public auction, including an additional 5% discount for payments in US Dollars for commercial plots.
A 5% discount will also be given for lump-sum payment within 30 days of the approval of the bid for commercial plots. Similarly, the facility for building plan approval will be provided after the initial 25% payment is made. Possession of the plot can be obtained upon 75% payment.
The received bids will be presented before the CDA Board after thorough scrutiny, which is the authorized forum for approving or rejecting bids. Chairman CDA Muhammad Ali Randhawa has said that the strong participation of investors in the public auction is a reflection of complete confidence and trust in CDA's policies. He said that gaining the trust of Islamabad's investors is among our top priorities.
Randhawa said that the revenue generated from the public auction of residential and commercial plots will be spent on the construction, development, and beautification of the Federal Capital, Islamabad.
