CDA plans to add 10 more residential sectors in Islamabad

CDA plans to add 10 more residential sectors in Islamabad Capital Development Authority (CDA) has decided to launch 10 new residential sectors and auction 200 in Sector C-14 to increase its revenue to stop the auction of commercial land of First, preparations are now underway to auction off more than 35 CDA commercial plots in the Blue Area and other major commercial centers. 14, each of which is one channel. The proposed price of each plot will be between Rs 50 and 60 million. Interested buyers are required to deposit 25% of the total cost with their applications, which will be refunded in case the plot is not available.

The auction will be done by lot. About 70 percent of the development work in Sector C-14 has been completed, with work on the sewage system ongoing. Successful bidders will have to pay the total amount to CDA in equal installments over two years. The CDA plans to invite applications for these plots later this month Sources added that 10 more sectors will be launched from the next financial year. After allotting the plots to the owners in exchange for the purchased land, the remaining plots will be auctioned to the public. The open draw will be held at the CDA headquarters in the presence of the candidates including NADRA to ensure transparency.

The new sectors include C-13, C-14, C-15, C-16, I-12, E-12, D-13, D-14, F-13 and E-13.

The main objective of auctioning the remaining land after completing the land acquisition agreements is to provide housing to the public while generating maximum revenue for the CDA. The current administration of the CDA urgently needs funds for more than 10 development projects, making efforts to attract Chinese investments Last week, the chairman of the CDA told the China Investment Corporation (CI C) that he visited China to discuss and initiate development projects with the support of the CDA. For this purpose, Prime Minister Shahbaz Sharif also held meetings with Chinese investors.

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