The Capital Development Authority (CDA) is set to launch 10 new residential sectors and auction 200 plots in Sector C-14 to grow its gain.

While the CDA chief had earlier announced a delay in auctioning prime commercial plots, preparations are now underway to auction more than 35 commercial plots in Blue Area and other key commercial locations.

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Sources say flyers are being prepared for the auction of 200 plots in Sector C-14, each measuring one kanal. The offered price for each plot will range from Rs50 to Rs60 million. Interested buyers will need to deposit 25% of the total cost with their applications, which will be refundable if they don’t get a plot. The auction will be done through balloting. About 70% of the development work in Sector C-14 is complete, with the sewage system still being worked on. Winning bidders will pay the full price in equal installments over two years. The CDA plans to start accepting applications for these plots later this month.

In addition to the plot auctions of Islamabad Real Estate, 10 new CDA residential sectors will be launched by the next financial year. After giving plots to landowners as part of land acquisition deals, the remaining plots will be auctioned to the public. The open balloting will take place at the CDA headquarters, with NADRA guaranteeing clarity. The New Housing Development sectors include C-13, C-14, C-15, C-16, I-12, E-12, D-13, D-14, F-13, and E-13.

The goal of auctioning these plots is to offer new residential options to the public while increasing the CDA’s gain. The CDA needs funds for over 10 development projects and is looking to attract Chinese investment. Last week, the CDA chairman visited China to discuss these projects with the China Investment Corporation (CIC), and Prime Minister Shehbaz Sharif also met with Chinese investors.

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