FGEHA to auction commercial plots

Plots, apartments in front of G-13 Markaz will also be auctioned

ISLAMABAD:

The Federal Government Employees Housing Authority (FGEHA) has finalised arrangements to auction several commercial plots in sectors G-13 and G-14 on Wednesday and Thursday (November 13 and 14) at the Citizen Club, located in F-9 Park, Islamabad.

An official told media that the auction includes multiple commercial plots in G-14, various Class-III commercial plots in G-13, G-14-2/3 and a petrol pump plot in the Mauve area (Sri Nagar Highway) G-13. Additionally, mixed-use plots and apartments in front of G-13 Markaz will also be auctioned.

The winning bidder must complete the total payment through easy instalments spread over two years. Investors who choose to pay the full amount upfront will receive a 10% rebate on the total payment, with an additional 5% discount available for those paying the full amount in US dollars through banking channels.

The building plan will be approved upon payment of 25% of the total plot price, and possession of the plot will be granted upon payment of 75% of the total price.

The official from the Ministry of Housing and Works stated on Sunday that the Authority has advertised the plot auction in major newspapers, urging interested individuals to obtain brochures from the FGEHA office, and highlighted that the prime locations of these plots make them ideal for multi-use businesses, shopping centres, corporate offices, and banks.