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CDA Announces Auction Date for Plots on Food Street in Islamabad

CDA announces auction date for plots on Food Street in Islamabad

Islamabad: The Capital Development Authority (CDA) has announced the dates for an open auction of 1-Kanal-size plots designated for cafes and eateries in Capital Street Islamabad, which will be established in Shakarparian.

According to the updates, the upcoming auction will include a total of 20 plots of 500 square yards. This event will take place on 20th and 21st of July, at Jinnah Convention Center in Islamabad. Only those food businesses that are registered with the relevant authorities are eligible to participate in the open auction. International food businesses can also participate, if they timely complete all necessary formalities, and fall in eligibility criteria.

Else then that, Apart from an additional 5% discount for payments made in US Dollars, the CDA is also offering a 10% rebate on the total payment if it’s been cleared within one month of the auction.

Read to know more about: CDA-DWP Has Approved the PC-1 for Islamabad’s Development Project.

The potential investors can get brochures from the CDA Facilitation Center, Directorate of Estate Management II. The brochures are also easily available on the official website of the CDA. In order to encourage investment, the CDA has introduced several exceptional initiatives.

  1. An allocated budget of PKR 1 billion has been approved for the area’s renovation.
  2. The area’s infrastructure development and other crucial utilities will be improved during the following six months.
  3. Pro-rata advance tax deductions will be made.
  4. Within 30 days of the bid being accepted, a 25% deposit is required.
  5. Activities involving art and craft shall be limited to one-third of the plot space.
  6. To improve walkability, pedestrian boulevards and pathways will be incorporated into the construction effort.

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