CDA To Auction Plots in Islamabad with These Details

The Capital Development Authority (CDA) has opted to alleviate its budgetary constraints by organizing a plot auction in January 2024.

As per the CDA’s announcement, the plot auction is scheduled to occur from the 10th to the 12th of January at Gandhara Hall in F9 Park.

Included in the auction are plots situated in Blue Area, Centers, and Park Road.

The auction catalogue encompasses a diverse array of properties, ranging from petrol pumps, Class Three shopping centers, agro farms, and apartment plots to fruit and vegetable shops, IT centers, and hostel plots.

To facilitate this initiative, the CDA underscores the importance of collecting 25 percent of the bid amount within one month. Those opting to pay in dollars will receive a 5 percent discount.

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For those making complete payments within one month of bid acceptance, a substantial 10 percent discount will be applicable. Moreover, the approval for construction plans will be granted upon the initial installment payment.

Having grappled with financial challenges in recent months, the Capital Development Authority had to halt work on new developmental projects due to budget constraints, leading to delayed payments to contractors.

However, the decision to auction plots not only presents a practical solution to the budget shortfall but also holds the potential to stimulate economic revival. With the added incentive for prompt payments, the CDA aims to initiate construction projects on the plots without delay.