Islamabad, January 6, 2024 – The Capital Development Authority (CDA) is set to conduct its first auction of plots in F-9 Park, Islamabad, starting from January 10 and continuing through January 12.
Nauman Khalid, a Member of Technical & Digitization at CDA, announced the auction dates during a visit to the Islamabad Chamber of Commerce and Industry (ICCI) on Saturday, where he briefed the business community about the upcoming auction.
According to Khalid, a total of 35 plots will be auctioned, with 11 plots scheduled for auction on the first day, 10 on the second day, and 14 on the third day. The diverse range of plots includes categories such as Marakaz, Blue Area, Park Road, apartments, hotels, petrol pumps, hospitals, timber, agro-farms, I&T Centers, Aabpara Market, Class-III shopping centers, and a revision of deferred plots.
During the briefing, Khalid shared important details regarding the possession of auctioned plots. CDA will grant possession on payment of 75% of the premium, and a 10% rebate will be provided for lumpsum payments.
Nauman Khalid also highlighted several development initiatives undertaken by CDA, including the creation of a cycling lane in Islamabad to alleviate traffic congestion, the expansion of bus routes, digitization of land records, automation of building plan approvals, and the implementation of automated parking systems.
Khalid urged the Islamabad Chamber of Commerce and Industry to collaborate with CDA to ensure the success of the auction. He suggested that ICCI provide a list of prioritized issues concerning the business community, and CDA would establish a team to address them.
In response, Ahsan Zafar Bakhtawari, President of ICCI, emphasized the importance of CDA ensuring the provision of necessary infrastructure and civic amenities for the auctioned plots. Bakhtawari urged CDA to introduce mobile apps for online services related to building plan approvals and other plot-related matters. He proposed the establishment of a Facilitation Desk in ICCI to streamline CDA-related affairs, the replacement of old sewerage lines with new ones, and the development of markets. Bakhtawari assured CDA of ICCI’s cooperation in mobilizing investors for active participation in the upcoming auction.
Engr. Azhar ul Islam Zafar, Vice President of ICCI, contributed valuable ideas during the discussion to make the auction process more attractive, aiming to capture the attention of both local and foreign investors.
As the auction dates approach, stakeholders, investors, and the business community are eagerly anticipating the outcome of this significant event, which is expected to contribute to the further development of Islamabad’s real estate landscape.
