ISLAMABAD, DEC 23 /DNA/ – The auction process for residential and commercial plots in the Federal Capital, Islamabad, organized by the Capital Development Authority (CDA), continued on the second day at the Jinnah Convention Centre. A total of PKR 14.809 billion worth of plots have been auctioned in the first two days of the auction. The process is being supervised by the Chairman of the Auction Committee, Member Finance Tahir Naeem, and the members of the Auction Committee.
According to details, on the second day of the public auction, Plot No. 12 in Sector D-12 Markaz was auctioned for PKR 1.04 billion. Similarly, Plot No. 284Ù€A in Sector F-10/3 was auctioned for PKR 24.60 crore. Thus, a total of PKR 1.28 billion worth of plots were sold on the second day of the auction.
Furthermore, on the first day of the public auction, Plot No. 15 in the Blue Area (F-8/G-8) was auctioned for PKR 3.52 billion, while Plot No. 17, also in the Blue Area (F-8/G-8), was auctioned for PKR 9.15 billion. On the first day of the auction, Plot No. 37Ù€C in the Orchards Scheme, Murree Road, was auctioned for PKR 42.20 crore, and Plot No. 37Ù€D in the same Orchards Scheme, Murree Road, was auctioned for PKR 42 crore.
The auction of residential and commercial plots will continue until 24 December at the Jinnah Convention Centre. Plots of various categories are being offered for investment in the auction.
Investors are being provided various discounts and facilities under investor-friendly measures at the auction. An additional 5% discount will be given for payments in US Dollars for commercial plots. A 5% discount will also be given for lump-sum payment within 30 days of the approval of the bid for commercial plots. The facility of building plan approval is also being provided after the initial 25% payment, while possession of the plot can be obtained upon 75% payment. The received bids will be presented before the CDA Board after complete scrutiny, which is the authorized forum to approve or reject the bids.
Chairman CDA Muhammad Ali Randhawa said that the revenue generated from the public auction of residential and commercial plots will be spent on the construction, development and beautification of the Federal Capital, Islamabad.
