The Capital Development Authority (CDA) has announced the auction of commercial plots in Islamabad’s developed sectors, including the renowned Blue Area. This auction, set to commence on May 29, aims to generate substantial revenue for the capital while attracting local and international investors. In this article, we explore the details of the auction, highlighting its potential impact on the commercial estate market in Islamabad.
Prime Investment Opportunity:
Investors nationwide and overseas have recognized the CDA’s auction as a must-avail opportunity. With legal protection and promising returns, the auction presents a lucrative chance to acquire commercial plots in the heart of the federal capital. The availability of plots in prominent sectors and sought-after locations further adds to their investment appeal.
Diverse Range of Plots:
The auction encompasses a variety of commercial plots located in developed sectors across Islamabad. Prospective buyers can choose from a range of options, including centres, agro farms, petrol pumps, E-11 northern strip, Class-III shopping centre, Park Enclave commercial, Blue Area E-11/F-11, and Canopy side. This diversity caters to the unique requirements of different businesses and provides ample choices for investors.
Flexibility in Payment and Rebate:
To facilitate potential buyers, the CDA offers a 10% rebate on the remaining amount to those who make full payment within 30 days of receiving the bid acceptance letter. This incentive encourages timely payments and offers financial benefits to investors. Moreover, the inclusion of selected bank branches for payment provides convenience and accessibility.
Transparent and Facilitated Process:
The CDA has implemented a transparent and facilitated process to ensure a level playing field for all participants. A mandatory facilitation team will be present to assist investors during the auction. The auction voucher also provides a one-window directorate for making payments, streamlining the process for potential buyers.
Obligations and Completion Period:
Upon successful bid acceptance, investors are required to submit the first instalment, constituting 25% of the bid amount, within 30 days. The CDA will collect advance tax on a pro-rata basis, while site and marketing office charges are excluded. The approval of building plans will be granted after the submission of the first instalment. Completion periods vary based on plot size, allowing flexibility for investors.
Positive Impact on Commercial Estate Market:
The auction of commercial plots by the CDA is expected to have a significant impact on the commercial estate market in Islamabad. The infusion of new investments will stimulate economic activity, create employment opportunities, and contribute to the overall growth of the city. Additionally, the auction’s success will enhance the city’s reputation as a prime destination for businesses and investors.
The CDA’s auction of commercial plots in Islamabad presents an excellent investment opportunity for individuals and businesses looking to establish their presence in the federal capital. With diverse plot options, transparent procedures, and attractive incentives, investors can secure prime real estate and participate in the city’s economic development. By capitalizing on this auction, individuals have the chance to reap long-term benefits and contribute to the growth and prosperity of Islamabad’s commercial landscape.