CDA will auction commercial, residential plots from March 25-26, 2013

CDA will auction commercial, residential plots from March 25-26, 2013

Islamabad (Press Release / Monday, March 25, 2013) – Capital Development Authority (CDA) has finalised arrangements for auction of residential and commercial plots in Islamabad. The auction would be held at Jinnah Convention Centre on 25th and 26th March, 2013.

CDA Islamabad LogoA meeting to review the arrangements was held here at CDA Headquarters, which was presided over by the Chairman CDA, Syed Tahir Shahbaz. On this occasion Shaista Sohail, Member Estate, Syed Mustafain Kazmi, Member Planning and Design, Azhar Ali Chaudhry, Member Finance, and officers of Estate Management Directorates where also present in the meeting.

CDA Chairman, Syed Tahir Shahbaz said that auction of residential and commercial plots is not only meant for consolidating financial position of the authority but would also provide golden opportunity to people of country to construct their houses and establish their businesses in the capital city. He said that the plots for residential and commercial purpose would be auctioned in the developed sectors.

CDA Chairman said most of citizens of Pakistan, especially the business community desire to shift their families and establish businesses in Islamabad due to better civic facilities, adding that Islamabad has transformed into a regional business hub as traders from four provinces, Azad Jammu and Kashmir, Gilgit Baltistan, FATA are doing business in Islamabad in addition to those coming here from Afghanistan and Central Asian Republics (CARs) as geographically, Islamabad is considered as the gateway to these regions. He said that CDA is committed to facilitate the business community to help boost the economic activities.

Syed Tahir Shahbaz said that the authority would ensure the transparency while auctioning these residential and commercial plots, adding that a high level committee for the purpose has been constituted, headed by Azhar Ali Chaudhry Member Finance and comprising of Syed Mustafain Kazmi, Member Planning and Design, Shaista Sohail, Member Estate, Deputy Director General Finance, Director Estate Management-I, Director Estate Management-II and Director Public Relations as its members.

Earlier, Shaista Sohail, Member Estate apprised the Chairman CDA about arrangements of auction. She informed that residential plots would be offered for opening bidding on 25th March, while the commercial plots on 26th March, 2013. Auction will be held from 10:00 A.M to 4:00 PM on the scheduled dates.

She further informed that on demand of the people, this time the number of residential plots has been increased to 47 in different developed sectors of the city including 20 plots in Sector G-10/2, three plots in Sector G-11/4, eight plots in G-11/2 and 16 plots in four sub-Sectors of D-12. She informed that a plot measuring 3.75 acres, at very prime location in Sector F-5/1, meant for five star-hotel would also be auctioned.

The other commercial plots, which would be offer for bidding including four plots in Blue Areas, a business hub of the city, one class-III shopping centre, and a plot measuring 1600 square yard in Sector D-12. She informed that due to coordinated efforts of concerned formations of the authority, for the first time, two plots measuring 1600 square yard located in Sector E-12, while plots meant for luxury apartments and super market in Sector I-12 Markaz, would also be offered for bidding.

It is also ensured that these residential and commercial plots are free of all kinds of legal complications. To ensure maximum participation of the public, the authority has already conducted country-wide publicity of the upcoming auction, said Member Estate.

She said that different banks have also finalized arrangements for establishment of counters to facilitate the participants of the auction. Shaista Sohail informed that brochures with terms and conditions are available at One Window Operation and a large number of people are getting brochures for participation in the grand auction.