Some 125 plots are available at Sector D-12 while the rest are in Sector E-12. CDA has fixed Rs31.35 million for a 500 square yard plot in D-12 and Rs23.5 million in E-12. PHOTO: FILE.
The people’s distrust of the Capital Development Authority (CDA) can be gauged from the fact that despite campaigning for weeks to lure potential clients, the civic agency received only 19 applications for 484 plots in sectors D-12 and E-12 in the foothills of the Margallas.
“We have received only 19 applications. It’s the worst ever response from the public,” said a top CDA official requesting anonymity. “Rs130 million were spent on advertisements, but to no avail.”
City managers expecting a floods of application had announced ‘100 per cent’ transparent balloting through a exclusively designed software. However, the offer turned out to be a sham.
Some 125 plots are available at Sector D-12 while the rest are in Sector E-12. CDA has fixed Rs31.35 million for a 500 square yard plot in D-12 and Rs23.5 million in E-12.
“Failure to take possession of land in E-12, encroachments in D-12 and higher prices contributed to making the venture a flop,” said the official.
“A genuine buyer never goes for an option where he is asked to pay 50 per cent of the price as down payment. Similar plots are available in the open market at lower prices,” said a real estate expert.
Another CDA official said, “In the recent past, we ditched investors twice which tarnished our credibility, as we failed to develop Sector I-15 and the Park Enclave project.”
The last date for submission of applications is October 1.
Published in The Express Tribune, October 1st, 2013.
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CDA has fixed Rs31.35 million for a 500 square yard plot in D-12 and Rs23.5 million in E-12.
No sane person will ever invest 2-3 crores in a place whose future is doubtful considering CDA track record.