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CDA to auction commercial plots in November

Islamabad: The Capital Development Authority (CDA) would hold open auction of commercial plots on November 18 and 20.

Around 40 plots at different locations would be offered for sale through auction including three plots, which were cancelled by the authority owing to non payment of 75 per cent cost of the plot.

According to details, the CDA auctioned plot no 20 in sector G-11/3, Plot 02, Markaz E-11 Northern Strip and Plot no 05 Blue Area, F-8/G-8 to a single successful bidder in November 2012 against which 25 per cent advance payment was made by the investor. As per procedure, the successful bidder was required to deposit remaining 75 per cent amount to CDA. However, the same amount was not deposited within stipulated time. Consequently Capital Development Authority (CDA) as per procedure after completing the codal formalities cancelled the subject plots. The bidder moved Islamabad High Court (IHC) against CDA decision. Accordingly Justice Shaukat Aziz Siddiqui on October 24 directed him to deposit the remaining amount against auctioned plots within 3 days but he failed to do so. Consequently the court conducted the hearing of the subject case on October 28, 2013. No lawyer or representative on behalf of the bidder appeared before the court and court therefore dismissed the case.

Source: CDA to auction commercial plots in November

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