Islamabad, Jan 15: The Capital Development Authority (CDA) has successfully auctioned all 236 residential plots in Islamabad’s Sector C-14, with a significant emphasis on attracting overseas Pakistanis.
Each plot, valued at approximately The price of 60 million per kanal is expected to bring in Rs. 14. in revenue over the next ten months.
The CDA initiated the auction to both local and international investors but prioritized expatriates, recognizing their advantage in paying through foreign currency.
The auction attracted over 1,700 applications, including approximately 550 from overseas Pakistanis, underscoring the demand and interest in Islamabad’s prime residential real estate.
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NADRA managed the e-balloting process to ensure transparency and fairness. This method has earned widespread praise for efficiently guaranteeing equal opportunities for all applicants.
Although many hopefuls could not secure plots, there are plans for additional auctions in other sectors, such as C-13, C-15, Park Enclave, and the Defence Housing Authority (DHA), which acquired over 700 plots through a land exchange deal last year.
CDA Chairman Muhammad Ali Randhawa expressed satisfaction with the smooth conduct of the auction and the ongoing development of Sector C-14.
With the auction process complete, the CDA will announce the list of successful applicants on its official website and social media platforms.
In a statement, Chairman Randhawa thanked all participants for their trust in the CDA’s efforts and reassured them that development in Sector C-14 will continue at a steady pace.
Furthermore, plans are in motion to explore new sectors and reinvigorate previously stalled projects to meet the growing demand for residential properties in Islamabad.
The CDA’s strategic initiatives, coupled with the strong interest from both local and overseas investors, highlight the government’s focus on expanding Islamabad’s real estate market.
These efforts will increase government revenue and boost regional economic growth by attracting foreign investments.
With the successful auction of Sector C-14, the CDA is paving the way for further growth in Islamabad’s real estate sector, offering lucrative opportunities for investors and a promising future for the city’s infrastructure.
