Islamabad: The Capital Development Authority (CDA) has initiated a new reform by selling 10 new residential sectors and auctioning 200 plots in Sector C-14 to boost revenues. The authority has begun preparing for auctions of over 35 CDA-owned commercial plots in the Blue Area and other significant commercial hubs. The CDA auction is a best opportunity for securing both commercial and residential plots in the capital Islamabad with easy down payment and 2 years of instalment plan.
Read More: Public Transport in Rawalpindi to be Digitised
Blue Area Islamabad is one of the prominent business hubs in Rawalpindi, Islamabad. According to sources, brochures for the 200 plots in Sector C-14 will be put up for sale, having a size of one kanal. One kanal land in Sector C-14 is expected to cost between Rs50 and Rs60 million. In Sector C-14, up to 70% of the development work is considered finished, however sewage system work is still ongoing.
CDA Auction: Process, Duration, Time and Venue
- To secure a plot, applicants must provide a deposit of 25% of the total cost with their application. This deposit is refundable in case a plot is unavailable.
- In addition, plots will be auctioned out by the balloting process.
- The buyers of the plot will have two years to pay CDA the full purchase amount in equal installments. The applications for the plots will be open to the public at the end of this month, September.
Read More: Building Plan Approval by CDA to Go Online
By the following fiscal year, ten additional new sectors will be introduced which are C-13, C-14, C-15, C-16, I-12, E-12, D-13, D-14, F-13, and E-13. After the plots are distributed to the landowners in return for the acquired land, the remaining plots of the land acquired by CDA will be put up for sale. The candidates will be present for open voting at the CDA headquarters. Additionally, NADRA will be in the loop to guarantee the candidate’s transparency.
The primary goal of the CDA auction of the remaining plots (the plots that were given in compensation for the land acquisition) is to maximize revenue for CDA while simultaneously providing people access to residential facilities.
For more information, visit Multiworks.
