| Islamabad: The Capital Development Authority (CDA) has announced the date of its upcoming auction of commercial plots of various sizes and categories in the developed sectors of the city, according to an advert published in the national dailies on March 05.
Read: CDA to approve rural area development project
As per the details, the auction will be held for three consecutive days in the first week of May i.e. May 3, 4, and 5 at the Jinnah Convention Centre, Islamabad. It is dubbed as a ‘golden opportunity’ of investment in Islamabad for citizens from Pakistan and overseas that comes with ‘complete legal protection’. The plots being auctioned are located in the developed sectors of the capital city, including prominent spots like:
• Marakaz
• Agro farms
• E-11 Northern Strip
• Petrol pumps
• Park Enclave Commercial
• Class-III Shopping Center
• Blue Area E-11/F-11, Canopy side
There is a ‘10% rebate on a full payment within 30 days of bid acceptance letter’. The ‘special steps for prospective investors’ mentioned in the advert include:
• Presence of a facilitation team at every step for providing facilities to the investors
• Payment of 25% of the bid amount as the first instalment within thirty days of acceptance of the bid
• Advance tax will be collected on a pro-rata basis
• After payment of the first instalment, building plan approved facility. Construction work will be started after making full payment
• CDA will not charge for site and marketing offices
Read: CDA to initiate development work in ignored sectors
The advertisement further mentions details on the ‘flexible completion period for commercial plots’:
• Up to 1,000 yards: 3 years
• Up to 3,000 yards: 4 years
• More than 3,000 yards: 5 years
The auction brochures can be obtained from the CDA one-window directorate and selected branches of Askari, UBL, HBL, MCB and Bank of Punjab from March 25 onwards.
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