Staff Reporter
Capital Development Authority (CDA) will auction New Blue Area commercial plots on July 15, 16 and 17 respectively. The auction proceedings will be held at Jinnah Convention Centre Islamabad from 10 am onwards on all three days. CDA has issued advertisements to this effect in print media.
The auction of New Blue Area plots was earlier scheduled to be held April of current year but was postponed due to Covid-19 related lock down. Now CDA Administration has decided to hold open auction of same plots in the mid of July.
“Blue Area, New Vision” is the badge of Capital Development Authority which reflects foresight of Capital Development Authority Administration regarding upcoming auction of New Blue Area plots because this will provide a unique opportunity for businessmen and investors to promote their businesses and brands in the newly developed business hub of the capital.
CDA administration has taken special initiatives for prospective bidders which include dedicated team to facilitate investors at every step, first installment of 25% within 30 days of bid acceptance letter, building plan approval facility after first installment construction to start on full payment, 10% discount on full payment in advance, advance income tax on pro rata basis, 100% coverage for less than 1000 Sq.Yd. plots, 70% to 75% ground coverage for plots above 1000 Sq. yd, every plot with all round circulation strip, Ample public parking and application of newly developed building bylaws.
The auction of New Blue Area plots is a reflection of commitment by CDA Administration to be part of government’s efforts to promote business and investment opportunities in the country. The income from the auction of plots will be mainly spent for funding development projects in Islamabad. Further detail of the auction of plots is available at CDA website. Details and brochures are available at One Window Directorate CDA and designated branches of MCB Bank, Askari Bank, HBL and Bank of Punjab.
