CDA is to Going to Auction for More Plots in Islamabad

To relieve its financial restrictions, the Capital Development Authority (CDA) has decided to hold a land auction in January 2024.

The CDA reports that the plot auction will be held at the F9 Park in Gandhara Hall on January 10 and 12.

The auction will feature plots on Park Road, Centers, and Blue Area.

A wide variety of properties are included in the auction list: fruit and vegetable stores, IT centers, dormitory plots, Class Three shopping centers, gas pumps, and agro farms.

In order to support this program, the CDA highlights that 25% of the bid value must be collected within a month.

If you choose to pay with dollars, you will receive a five percent discount.

If full payment is received within 30 days of the offer being accepted, a significant 10 percent discount will be applied. In addition, building plan approval will be given following the first installment payment.

Due to financial difficulties in recent months, the Capital Development Authority was forced to put a hold on future development projects because of budgetary restrictions. The financial crisis is directly to blame for the delay in contractor payments.

Nonetheless, the choice to sell plots not only offers a workable way to close the budget deficit but also has the potential to spark a recovery in the economy. By offering quick payments, the CDA hopes to get development projects on plots underway as soon as possible.

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