DHA City Karachi – Commercial Plots Auction Announced

DHA City Karachi is unique residential-cum-commercial project which is being speedily developed in accordance with contemporary and architectural practices. DHA offers opportunities in Low Rise G+4 Vertical Commercial/Mix use development in Sector 3 of DHA City Karachi for Builders / Developers.

Main Features:

Main features are summarized below:

a. Plot size : 200/300 Sq yds

b. Category :Commercial/Mix Use

c. Development : Low Rise (G+4)

d. Availability of Plots : 2 Plots of 200 Sq yds 11 Plots of 300 Sq yds

e. Allocation : One Plot to one developer

Procedure of Bidding:

Bidding procedure is summarized below:

a. Sale through competitive bidding with reserved price.

b. Selection of developers based on highest bids.

c. Successful bidders shall deposit down payment within three weeks.

d. Cost of land shall be recovered in installments as follows:

1 50% Down Payment

2 25% After 6 months of Down Payment

3 25% After 12 months of Down Payment

e Information Letter to developer will be issued on receipt of down payment.

f. Submission of Building Plan by developer as per DHA City By laws within 2 months of receipt of Information Letter.

g. Approval of Building Plan by DHA and issuance of permission for construction to developer.

h. Developer to start construction within 6 months of receipt of information Letter and complete in 30 months. Inst Land Price Payment Timeline 1 50% Down Payment 2 25% After 6 months of Down Payment 3 25% After 12 months of Down Payment 2

i. DHA will closely monitor adherence to construction timelines. (1) Penalties will be imposed and warnings issued in case of delays regarding construction milestones. (2) Plots will be cancelled with forfeiture of 20% of paid amount as svc charges if:-

(a) Project is not commenced within six months of receipt of Information Letter.

(b) Project is not completed as per approved construction plan.

j. Approval of Building Completion plans by DHA.

k. Allotment letters will be issued to builders / developers on submission / approval of building completion plan.

l. Developer / builder will be allowed to market product after complete payment of plot to DHA.

m. Utility charges and Govt. taxes will be levied separately.