CDA to auction plots to alleviate 'budgetary constraints'

ISLAMABAD: The Capital Development Authority (CDA) Wednesday announced to auction of plots in the federal capital to address the budgetary constraints faced by the civic body.

The auction, set to take place between January 10-12 at the F9 Park in Gandhara Hall, will include plots located in Blue Area, Centres, and Park Road, said a CDA official.

The auction list includes petrol pumps, Class-3 shopping centres, agro farms, apartment plots, IT centres, hostel plots along with fruit and vegetable shops.

As per the CDA, a substantial 10% discount will be applicable for complete payments made within one month of bid acceptance.

Furthermore, approval for construction plans will be granted upon the first instalment payment.

In May, the civic body conducted the auction of commercial plots in Blue Area and other developed sectors in May.

The auction included various centres, agro farms, petrol pumps, E-11 northern strip, Class-III shopping centre, Park Enclave commercial, and Blue Area E-11/F-11, Canopy side.

Speaking to APP, a CDA official had then revealed that 25% amount of the bid amount would be considered the first installment, which should be submitted within 30 days of bid acceptance.