Staff Reporter
Islamabad: The auction of commercial plots organized by the Capital Development Authority (CDA) has been well received by the investors. On the first day of the auction, 5 plots were sold for 11 billion. Organized by the CDA, a large number of investors participated and intense competition was witnessed. Chairman CDA Mohammad Ali Randhawa has said that the active participation of investors in CDA’s public auction is an expression of confidence on the institution’s policies. The club will continue at F-9 Park. According to the details, on the first day of public auction, F-8 Center Plot No. G.13 was auctioned for Rs.1.22 billion and D.16 for Rs.1.24 billion. Similarly, Plot No. 4D of G-8 Center was auctioned for 598.3 million while Blue Area G-8 Commercial Plot No. 10 was auctioned for 5.35 billion rupees. Center I-8 plot number I.B was auctioned for Rs.2.4 billion. Thus, on the first day of the auction, 5 plots were sold for 11 billion rupees. Commercial plots of different categories located in the developed commercial centers and markets of Islamabad are being offered for investment in the six-day public auction. Class 3 shopping center plots including motels, apartments are also being offered for investment in this public auction. After scrutiny, it will be presented to the CDA Board which is the competent forum to approve or reject the bids. In this regard, the payment plan for commercial plots has been extended from one year to two years. Similarly, the possession of plots will be given on 75% payment including the approval of the building plan on 25th payment. Similarly, 10% discount will be given on lump sum payment and 5% more discount will be provided on payment in dollars.
