ISLAMABAD: The CDA is set to auction prime commercial plots in well-developed capital sectors, including Blue Area.
The Capital Development Authority (CDA) is preparing to auction prime commercial plots in well-established sectors. Set to begin on May 29, the auction aims to attract domestic and international investors while generating additional revenue for the city. Prospective investors are encouraged to participate in the auction, which will be held at the Jinnah Convention Centre.
This auction is expected to significantly impact the capital’s commercial real estate market. The plots for bidding are situated in Blue Area in E-11/F-11, centers, petrol pumps, agro farms, Class-III shopping center, the E-11 northern strip, Park Enclave commercial area, and the Canopy side.
The CDA has outlined protocols and facilitation teams to assist investors during the auction process, making it an attractive investment opportunity with legal protection. As per the auction terms, successful bidders will need to submit 25% of the bid amount as the initial installment within 30 days of bid acceptance. The civic body will collect advance tax on a pro-rata basis. However, it’s important to note that site and marketing office charges are not included in the bidding process.For the latest Real Estate News and Blogs, visit Realtorspk blogs.