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CDA Rescinds Plan to Sell Apartments to Overseas Pakistanis in Nilore Heights

CDA Rescinds Plan to Sell Apartments to Overseas Pakistanis in Nilore Heights-Realtorspk

Islamabad: The Capital Development Authority (CDA) in Islamabad has dropped its plan to sell apartments in the Nilore Height Project to overseas Pakistanis. The apartments were meant for the low strata of the society.

The project was initially named Farash Town in 2021 but was renamed Nilore Height Project. Earlier this year, the CDA made a controversial decision to auction off 2,000 apartments to overseas Pakistanis for USD 30,000 each rather than allocating them to the low-income group as was initially planned. This decision was met with legal challenges.

After noticing the issue, the CDA Chairman, Anwarul Haq, clarified that NPHDA must be prioritized and instructed to procure the apartments. The CDA chief firmly believed that the flats, intended for low-income people, must be allotted to them instead of being put up for commercial auction.

The civic agency has opted to re-engage with the Naya Pakistan Housing and Development Authority (NPHDA) to allocate the 2,400 apartments to the lower strata of society. The project worth Rs31 billion involves the construction of over 4,000 apartments in two phases.

The first phase, consisting of 2,400 small apartments, has been completed with only finishing work pending. CDA’s current management has decided to dispose of these apartments through the housing authority, adhering to the project’s original plan. The CDA and NPHDA agreement is in the works, with an expected non-commercial fee of Rs 4 million per apartment.

In the second phase, 1,876 modern flats will be constructed, which will later be included in a commercial auction. The CDA is considering increasing the number of stories to accommodate up to 2,500 flats under the scheme. For the latest Real Estate News and Blogs, visit Realtorspk blogs.

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