CDA to resume development of stalled sectors

Attention: open in a new window. PDFPrintE-mail

ISLAMABAD: The Capital Development Authority (CDA) is set to resume development of stalled residential sectors to clear the housing backlog that has swelled to around 100,000 in the capital. CDA Chairman Syed Tahir Shahbaz said that a comprehensive plan was being finalised that would follow its execution. He added that the authority was stage-managing the revenue for this purpose.

He also said that the CDA would float tenders to engage contractors to develop these sectors. He added that the CDA had been unable to launch any new residential sector during the last two decades and the ones launched had not been developed yet.

Sectors to be developed include I11, I12, I15, I16, I17, D12 and E12.

According to reports, the authority would develop residential plots before the construction of high-rise apartments in Sector I15.

Reportedly, the CDA had planned to construct 8,000 condominium-styled housing units in the sector but the plan could not be executed due to scarcity of funds.

The CDA chairman also said that the authority would continue to auction off residential and commercial plots in various sectors to generate revenue.

Syed Tahir also said, “Commercial plots in the stalled sectors would bring in considerable revenue, once the CDA resumes development activity there.”

Since its establishment in 1960s, the CDA could only develop 27 sectors for residential and commercial purposes.

As per the Master Plan of Islamabad, as many as 60 sectors have been designed for mixed use over an area of 55,000 acres.

According to reports, 40 sectors have been acquired by the CDA, while another nine are yet to be acquired.

Reportedly, the CDA is yet to acquire lands, including sectors C13, C14, C15, C16, D13, E13, F13 and H16 and 30,000 residential and commercial units are to be built in these sectors.

According to sources, the CDA had a liability of Rs 35 billion against the land and built-up-property in various sectors of the city but the CDA has been unable to pay-off the compensation due to a financial crunch being faced by the authority.

Meanwhile, the CDA has decided to launch Sector C15 and Sector C16 soon.

Sources said that a meeting was held to discuss the matters related to payment of compensation and allotment of plots. This meeting was attended by CDA Estate Member Shaista Sohail and CDA Planning Member Syed Mustafain Kazmi.

According to sources, the CDA planning director general and the CDA land director would brief the CDA chairman on this matter in the next meeting. agencies

 

Courtesy: Daily Times


Forex open Market rates & comments Archive

Login Form