CDA to auction Blue Area's plots on incentivised package in July.

ISLAMABAD -- The Capital Development Authority is finally going to auction its Blue Area's plots in third week of July under the Prime Minister's vision of Naya Pakistan.

A portion of Blue Area falling in sector G-9, on the southern side of Jinnah Avenue was earmarked for the purpose and it was tailor-made by the authority to attract maximum investment.

The said auction of Blue Area plots was earlier scheduled to be held in April of current year but was postponed due to Covid-19 related lockdown. However, now the authority has once again flouted new advertisements to this effect in print media. CDA's Director Public Relations Mazhar Hussain informed that the auction of commercial plots would be held on 15th, 16th, and 17th July at Jinnah Convention Centre. He said 'Blue Area, New Vision' is a slogan of CDA for upcoming auction as it will provide a unique opportunity for businessmen and investors to promote their businesses and brands in the newly developed business hub of the capital.

He said the CDA administration has approved special incentives for prospective bidders which include a dedicated team to facilitate investors at every step, payment of first instalment of 25 percent within 30 days of bid acceptance, building plan approval facility after first instalment, 10 percent discount on full payment in advance, advance income tax on pro rata basis and 100 percent coverage for less than 1000 sq yd. plots, every plot with all round circulation strip, ample public parking and application of newly developed building bye laws are also among special initiatives taken for investors for New Blue Area plots. Prime Minister Imran Khan had formally announced the said project as it is being implemented in coordination with the Naya Pakistan Housing Development Authority (NPHDA).

Sources informed that the income received through this special auction would be spent...