Park Enclave phase-II: CDA plans to fetch Rs10b

After NARC land controversy, authority comes up with new revenue generation plan


Danish Hussain November 02, 2015
After NARC land controversy, authority comes up with new revenue generation plan. PHOTO: FILE

ISLAMABAD:


After failing to materialise its controversial plan of building a housing colony on agricultural research land, the civic authority has come up with a new plan to shore up its revenue. 


The Capital Development Authority (CDA) plans to launch phase-II of its Park Enclave project, known as the jewel in the crown.

City managers have calculated to generate revenue amounting to Rs10 billion from the project.

CDA’s board, which met here on Monday, approved the project officially named as Park Enclave Phase-II (Block-A).

Under the project, as many as 316 new residential plots – each measuring 500 square yards (one kanal) – and 12 commercial plots each measuring 1,000 square yards will be developed on 82 acres.

Initially, it has been decided that each residential plot will be sold out against Rs20 million, while commercial plots will be disposed of under the open land auction category.

“CDA estimates shoring up revenue amounting to Rs6.3 billion from the sale of residential plots,” said an official of the authority’s planning wing.



He said an area adjoining to the existing Park Enclave has been identified for the project. “Area is free from all sort of encroachments and there exists no government structures over there,” the official shared.

When contacted, CDA’s Regional Planning Director Zafar Iqbal confirmed the development saying currently the project was in its planning stage.

According to the plans, phase-II would consist of a total of 222 acres with 600 residential plots besides commercial plots.

He said block-A was free from encroachments but the rest of the area houses a katchi abadi besides some government offices.

The development came following CDA’s failure to establish a housing colony by demolishing the National Agriculture Research Council. Due to severe criticism from scientists, agriculturists, civil society and opposition parties, the plan has been put on the back burner.

Park Enclave housing scheme was announced in 2011 and it’s located at the intersection of Park Road and Kuri Road – approximately nine kilometres from Islamabad Club. The project was supposed to be completed by December 2012 but has been delayed since.

The new deadline for completion is December this year.

In 2011, the authority sold some 613 residential plots at Park Enclave Phase-I, while in 2014 another 100 plots at the same phase were sold through open balloting. And now plots at block-A of phase-II will be sold to shore up revenue.

Published in The Express Tribune, November 3rd, 2015.

COMMENTS

Replying to X

Comments are moderated and generally will be posted if they are on-topic and not abusive.

For more information, please see our Comments FAQ

E-Publications

Most Read