CDA completes balloting for Park Enclave-III
CDA logo image
The apex civic authority of the federal capital has completed balloting for almost all the plots offered in its latest housing scheme, the Park Enclave-III.
The balloting was completed through a specially-designed software with support from the National Database Regulatory Authority (NADRA) in a ceremony which was attended by the Special Assistant to Prime Minister on Capital Development Authority (CDA) Affairs Ali Nawaz Awan and some applicants.
CDA conducted balloting for 1,047 plots, out of a total of 1,061 plots marked in the scheme. It claimed to have received 1,744 applications for these plots. Of the plots included in the digital draw were 271 plots measuring 25x50 square feet, 546 plots measuring 35x70, 103 plots with the size 40x80, and 64 plots of the size 50x90. It further said that after conducting the balloting it had raised another Rs13 billion.
Speaking on the occasion, Awan said that the investor-friendly policies of the federal government and the CDA have helped regain the confidence of the general public. As proof, he pointed to how their Initiatives to boost construction industry in the country in the general and the federal capital, in particular, were now bearing fruits, helping generate a whopping Rs57 billion through different auctions and privatisation in a matter of three months.
He pointed out that in July, an auction for plots in the Blue Area New Vision had raised Rs17 billion while another Rs27 billion were raised through the recently concluded commercial, annual auction of the CDA which had concluded on Wednesday while the balloting had helped secure another Rs13 billion for the authority.
With the CDA having already fencing off the proposed site of the project and development planning underway, Awan hoped that the development work on the project will commence later this calendar year.
The CDA hopes to raise around 14 billion through the auction of commercial plots in the new enclave which will follow its developmental phase.
To ensure that development of the enclave is completed on a fast track, the CDA has decided that while starting work on the physical infrastructure of the project, it will simultaneously work on the electrification and gas supply aspects of the project as well to provide a complete solution to prospective residents.
In this regard, the necessary funds are being allocated and a separate account for development will be maintained.
Published in The Express Tribune, September 25th, 2020.