Islamabad: The Capital Development Authority (CDA) is all set to implement a new compensation approach toward acquired lands.
In a significant policy shift, Chairman Anwarul Haq of the Capital Development Authority (CDA) has revealed plans to end plot allotments against built-up property (BuP) claims. Instead, affected individuals will get cash compensation.
The chairman highlighted that the delay in announcing BuP awards, especially for sectors acquired over a decade ago, has resulted in potential resource losses and encroachments.
The pending BuP awards for sectors such as C-14, C-16, E-13, F-13, I-17, and H-16 have been a long-standing concern. The federal cabinet also addressed this matter in 2021, directing the CDA to expedite the announcement of all pending BuP awards without further delay.
This strategic shift will facilitate smoother land acquisitions and subsequent development projects. Moreover, it will address delays and past controversies in land acquisitions. This approach will be implemented for new acquisitions only. For the latest Real Estate News and Blogs, visit Realtorspk blogs.