In an auction, organised by the CDA board on 2nd and 3rd April, 2014, 32 commercial properties will be auctioned to the general population. The said commercial properties mainly consist of raw plots which have undergone no development.
CDA has taken steps to ensure a successful auction as the previous auctions failed to bear the expected fruits. The capital development authority is planning to illuminate the investors, beforehand, about the auction and the benefits the auctioned property offers.
In a bid to reduce the domination of some veteran investors, CDA is in pursuit of getting the midlevel investors in the upcoming auction and have offered them opportunity of collective bidding. The board has also attempted to reinforce the civic body and has inducted manpower in the legal wing of CDA.
