+- Pakistan Real Estate Times - Pakistan Property News (https://www.pakrealestatetimes.com)
+-- Forum: Pakistan Real Estate / Property News (/forumdisplay.php?fid=1)
+--- Forum: Latest Pakistan Property & Economic News (/forumdisplay.php?fid=4)
+--- Thread: Islamabad: CDA decides 25% cut on I-16 plots’ price after poor interest of people (/showthread.php?tid=8455)
Islamabad: CDA decides 25% cut on I-16 plots’ price after poor interest of people - Naveed Yaseen - 11-01-2009 06:12 AM
* Board extends last date for applications till November 20
* Approves five percent quota in jobs for minorities
By Fazal Sher
ISLAMABAD: Capital Development Authority (CDA) has made 25 percent reduction in the total cost of plots in Sector I-16.
The decision was taken in CDA board meeting on Saturday due to poor interest of citizens in applying for the plots, as the price of plots was high as compared to their open market value.
CDA Chairman Imtiaz Inyat Elahi presided over the meeting attended by all the board members and other senior official of the civic body, a CDA official told Daily Times.
He said the officials informed the board that due to high price of plots people were taking little interest in applying for them.
They said so far a small number of people had obtained application forms and brochures for the balloting of plots in Sector I-16. The official said senior officials advised the board to decrease the price otherwise CDA financial problem would further aggravate, as the authority had spent a huge amount on publishing application forms and brochures and advertisement.
Last date: The official said board also decided to extend the last for the submission of applications till November 20. CDA has made it mandatory for the applicants to submit 25 percent of total cost of the plot with the application, he said.
He said earlier CDA had fixed 200 square yards (30x60 square feet) plot price at Rs 20,00,000 while in open market its price was Rs 13,00,000 and 139 square yards (25x50) plot price at Rs 13,90,000 against its open market value of Rs 11,00,000. There are 1,322 housing unites, including 646 plots of five marlas and 676 plots of seven marlas in this sector.
Jobs quota: The official said the board also approved five percent employment quota for minorities and 10 percent quota for women against all posts.
The board has also approved allotment of plots in sector G-6 and G-7/2 for establishment of hostel for female employees working in the city.
The main objective of construction of hostel for women is to solve residential problems of women employees belonging to other cities, he said.
It is learnt the board also approved construction of seven-storey building on a plot owned by Pakistan Atomic Energy Commission (PAEC).
http://www.dailytimes.com.pk/default.asp?page=2009\11\01\story_1-11-2009_pg11_1