Islamabad: Three-day open auction of commercial plots, organized by the Capital Development Authority (CDA), has successfully commenced in the Federal Capital, Islamabad. On the first day of the auction, plots worth a total of 13,806.87 million rupees were sold in Islamabad. The three-day commercial plot auction will continue until August 6, at the Jinnah Convention Centre, presenting a golden opportunity to purchase commercial plots and invest in the Federal Capital.According to details, on the first day of the auction, Plot No. 2 G-1 in the I-9 Markaz, was auctioned for 529.575 million rupees. Meanwhile, Plot No. 18 in the Blue Area was auctioned for 9,134.65 million rupees. Similarly, Plot No. C-1 in the Blue Area was sold for 3,513.32 million rupees, while Plot No. 2 in Sector G-6 IandT, Aabpara Market, was auctioned for 629.32 million rupees. Thus, a total of four plots were sold on the first day of the auction, valued at 13,806.87 million rupees.On this occasion, Chairman Auction Committee said tha t, in line with the vision of Prime Minister Shehbaz Sharif and Federal Interior Minister Mohsin Naqvi, special focus is being placed on facilitating ease of doing business and providing maximum conveniences to the business community and the general public. Chairman of the Auction Committee said that investment in the Capital City, service delivery, infrastructure improvement and expenditure on civic needs are being ensured.He further said that the revenue from the open auction of commercial plots will be spent on improvement of the city's infrastructure, completion of mega projects, and addressing citizens' longstanding issues, such as provision of civic amenities and resolving water issues. Similarly, timely completion of ongoing development projects aimed at improving the city's infrastructure will be ensured.It is important to highlight that recently, a historic decision was made regarding parking to facilitate developers and the business community. Under this decision, the parking standard for commer cial buildings has been increased from 750 square feet to 1,000 square feet per car. This decision will apply to the ongoing auction and all future open auctions.The various categories of commercial plots are being offered for investment in the three-day auction, in which a large number of investors and the business community have participated.The auction includes plots from various markaz, E-11 Northern Strip, agro farms, as well as petrol pump plots. Additionally, constructed shops in the Blue Area Parking Plaza are also included in the three-day commercial plot auction.An additional 5% discount is being offered on payments made in US dollars for commercial plots, while a 5% discount is available on full payment within 30 days of bid approval, and approval of building plans is facilitated after the first 25% payment. Possession of the plot can be obtained upon 75% payment. After complete scrutiny, the received bids will be presented before the CDA Board, which is the competent forum to approve or reje ct the bids.Chairman Auction Committee expressed thanks to the investors for showing their trust and said that the CDA is highly committed to improving civic amenities, developing infrastructure and promoting the construction and development of the City.