After Park Enclave, a housing scheme targeting the elite, the Capital Development Authority (CDA) has started work on a project to cater to the low-income segment of the society. The housing society will be located near Lehtrar Road.
CDA Chairperson Imtiaz Inayat Elahi told The Express Tribune that the new housing scheme will be a “gift” from CDA to low-income people.
“Now they can fulfil their dream of having a house in Islamabad,” said the chairperson. He said that the details of the project will be advertised “very soon”.
“We got the desired response from Park Enclave housing scheme,” Elahi said, adding, “I want to give assurance to those who have made investment in CDA’s projects that the development work will be completed on time.”
Responding to a question regarding other housing schemes in Zone-IV, Elahi said that CDA is concentrating only on its own assignments and it has no concern with any other projects.
Park Enclave was being termed as the Capital Development Authority’s lifeline for the next fiscal year, as revenue from this project was going to help the agency run other services. But the response was not as enthusiastic as the authority had hoped.
CDA had earlier extended the deadline to apply for plots until August 10, instead of July 30, as previously advertised. To attract investors the CDA Board even reconsidered Park Enclave’s payment schedule. Under the new schedule, a plot could be booked with Rs1.2 million, while the remaining amount can be paid in 16 monthly instalments. CDA also offered a discount of five per cent in case of full payment at the time of booking.
CDA Spokesperson Ramzan Sajid said, “This time CDA got a positive response.” The civic authority has offered 700 plots of one kanal in the Park Enclave against Rs12.5 million each. Of these 600 plots were booked by the extended deadline, Sajid said, adding that CDA will not extend the deadline any more.
Sixty plots will be set aside and auctioned after the completion of the housing scheme and the remaining plots will be put up for sale in February and March next year.
Sajid said CDA plans to complete the project in a “record period of one year”. The development cost for the project is around Rs1 billion.
Published in The Express Tribune, August 13th, 2011.