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ISLAMABAD, Oct 02 (APP):The Capital Development Authority’s (CDA) auction of commercial plots is going strong, with six plots already sold for a whopping 12.45 billion rupees on the second day.
The auction, which will continue till October 3, is being held at the Gandhara Citizen Centre, F-9 Park, Islamabad.
Plot No. 8, designated for the hotel category on Garden Avenue, was auctioned off for 1.48 billion rupees.
Various categories of commercial plots are up for grabs, including those for motels, apartments, and Class III shopping centers.
Investors are being offered attractive incentives, such as extended payment plan from one to two years.
Approval for building plans upon 25% payment, possession of plots upon 75% payment. 10% discount for lump sum payments.
Additional 5% discount for payments made in US dollars.
The auction is being supervised by an auction committee headed by CDA Member Finance Tahir Naeem and Director Estate Management-II Tabinda Tariq.
All received bids will undergo thorough scrutiny before being presented to the CDA Board for approval or rejection.
This successful auction follows previous CDA auctions, which have also generated significant revenue, such as the 2023 auction that sold 12 plots for 11 billion rupees.