Islamabad: The Capital Development Authority (CDA) has announced details about the upcoming open auction of commercial plots in Islamabad, reads an advert in national dailies on May 14.
The CDA open auction of commercial plots being held at Jinnah Convention Centre on May 29, 30 and 31 (at 10 AM) encompasses properties of various sizes and categories in developed sectors of the capital city. According to the details shared, the plots to be auctioned are located in Blue Area, Marakaz, Park Enclave Commercial, Industrial Plots, Agro Farms, E-11 Northern Strip, Class-III Shopping Centre, E-11/F-11 (Canopy side/marquee) and Petrol Pumps. The brochures containing the details of the plots are made available at the one-window directorate and selected branches of HBL, UBL, MCB, Askari Bank and Bank of Punjab.
These properties are termed as a ‘golden opportunity of investment in Islamabad’ for resident and non-resident Pakistanis (NRPs) with complete legal protection. The advertisement further mentions details on the ‘flexible completion period for commercial plots’: • Up to 1,000 yards: 3 years
• Up to 3,000 yards: 4 years
• More than 3,000 yards: 5 years As an added incentive, CDA is offering a 10% rebate on the total payment made within one month and an additional 5% rebate if payments are made in USD. The building plans will be approved after payment of the initial 25% amount and there will be a facilitation team to aid investors at every step. The CDA has announced that it will not charge for site and marketing offices.
Hazafa reveres the art of writing and has been turned into a property enthusiast by profession. Her daily survival kit includes; tea, coffee, keyboard and paperbacks.
