Islamabad: Commercial sites in Islamabad’s developed areas will be auctioned off, according to the Capital Development Authority (CDA).
It is pertinent to state that the auction will take place over three days at the Jinnah Convention Center in Islamabad during the first week of May.
CDA is presenting the auction as a “great chance” for both Pakistani and abroad nationals to invest in Islamabad, with complete legal protection.
The plots up for sale, according to the specifics, are situated in well-known areas including Marakaz, Agro Fields, E-11 Northern Strip, gas stations, Park Enclave Commercial, Class-III Retail Center, Blue Area, E-11/F-11, and Canopy Side.
For a full payment made within 30 days of the bid being accepted, CDA is providing a 10% rebate. A facilitation staff will also be present at each stage to offer facilities in order to make the process simple for potential investors.
Within thirty days of the bid being accepted, the first 25% of the bid price must be paid. Proportionally, advance tax will be collected.
The building plan will be authorised following the first instalment payment, and construction can start once the complete amount is received. For the site and marketing offices, CDA will not charge.
The following describes the commercial plots’ flexible completion period:
- 3 years up to 1,000 yards.
- 4 years for up to 3,000 yards.
- 5 years for more than 3,000 yards.
From March 25, auction brochures will be offered at select Askari, UBL, HBL, MCB, and Bank of Punjab branches as well as the CDA one-window directorate.
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