Staff Reporter
Islamabad:The Capital Development Authority (CDA) successfully continued its auction of commercial plots on the second day. So far, a total of six plots have been auctioned for over 12.45 billion rupees. The auction will continue until October 3 at the Gandhara Citizen Centre, F-9 Park, Islamabad.
On the second day of the auction, Plot No. 8, designated for the hotel category on Garden Avenue, was auctioned for 1.48 billion rupees.
During the three-day auction, various categories of commercial plots located in developed commercial centers and Markazs of Islamabad are being offered for investment. These include plots for motels, apartments, and Class III shopping centers, all available for investment.
The auction is being supervised by an auction committee headed by the CDA Member Finance Tahir Naeem and the secretary of the committee the Director, Estate Management-II Tabinda Tariq.
The received bids will undergo thorough scrutiny before being presented to the CDA Board, which is the competent authority to approve or reject the bids.
It is worth mentioning that investors participating in the auction of commercial plots are being offered several incentives and facilities. The payment plan for commercial plots has been extended from one year to two years. Furthermore, investors will receive approval for the building plan upon 25% payment, and possession of the plots will be handed over upon 75% payment. Moreover, a 10% discount is being offered for lump sum payments, while an additional 5% discount is available for payments made in US dollars.
