CDA To Hold Open Plot Auction In October 2023

Another open land sale in Islamabad has been announced by the Capital Development Authority. A public auction for residential and commercial plots in various parts of Islamabad has been announced by CDA. According to the information, this auction will take place at the Jinnah Convention Center during the upcoming month.

The CDA officials claim that this is an ideal opportunity for investors to acquire residential and commercial properties in Islamabad that are clear of all legal claims. As the nation’s federal capital and economic centre, Islamabad also attracts a lot of investors from various places who are interested in buying homes there.

Residential and commercial plots from the following areas of Islamabad will be presented for auction in this event by CDA:

Sector I-11 Markaz
Park Enclave Commercials
Sector E-11 Northern Strip
Blue Area
Other major marakaz
The categories of plots offered by CDA are as follows:
Petrol Pumps
Residential Plots
Commercial Plots
Agro Farms
Industrial Plots
Plots for Fruit and Vegetable Shops
Apartments
Hostels
Shopping Centers
IT Center

Brochures for this public auction are available at the CDA Head Office as well as from particular Askari Bank, Habib Bank Limited, United Bank Limited, and Bank of the Punjab branches. From October 2nd, 2023, buyers can purchase the brochures. The sale will take place in Islamabad’s Jinnah Convention Center from October 17 until October 20, 2023.

Procedure for CDA Open Auction

Interested people need to follow the guidelines given below:

A dedicated team for the facilitation will be available to help the people.
Interested investors need to pay 25% of the total bid amount as the first installment, it is important to mention, that this will be payable within 30 days of bid acceptance.
Advance tax will be applicable on the pro-rata basis
The building plan will be approved by CDA after submission of the first installment (25% of the bid amount).
Construction can be started after paying the full amount against the property.

Note

CDA has also announced a discount of 10% in case of full payment within 30 days, and a 5% discount if a customer pays in US Dollars.

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