Lets share Real Estate Updates
27 Mar 2012
ISLAMABAD: The Federal Government Employees Housing Foundation intends to launch a new housing scheme for FG employees on ownership basis in Sector F-13 or F-14.
Two residential schemes are also under consideration of the Foundation which are aimed at effectively meeting the growing housing needs of FG employees in Capital.
A senior official at Ministry of Housing and Works on Sunday said these are high-rise apartment schemes in Sector G-13/1 & 4, Islamabad and a plots scheme at Barakahu, Islamabad (Zone-IV).
The official said besides the above mentioned schemes, Pakistan Housing Authority (PHA) is in the process of launching new residential schemes at I-16 and Kurri Road, Zones-IV, Islamabad.
Under the scheme in I-16, 1960 EI-Type Apartments, having 500 Sft covered and 120 units with 4722 Sft covered area (50×90 Category -I) would be constructed.
The other scheme is in Kurri Are, Islamabad where 191 units with 3431 Sft and 1995 Sft covered area of different categories would be built. The implementation process on these schemes is planned to be started this year, he added. For I-16 project, he said planning and designing has been completed and has been submitted to CDA for approval.
Moreover, the official said at Kurri Road Islamabad project, the work on the development of infrastructure by Pakistan Housing Authority is in progress and expected to be completed by February, 2013.
The official said launch of apartments scheme in Sector G-13 by FGEHF is in advance stage. Applications have been invited from registered members of Housing Foundation, seeking their option.
CDA goes for Margalla Avenue
ISLAMABAD, March 22: The cash-strapped Capital Development Authority (CDA) has decided to execute one of its biggest road projects.
“We have called bids for Margalla Avenue so that the much-awaited project can be commissioned,†CDA Chairman Farkhand Iqbal told Dawn on Thursday.
Sources in the civic agency said the authority had no funds to bear the cost of the multi-billion project. However, Mr Iqbal said they had made some plans that envisaged selling of commercial plots to generate funds.
He said they would also announce opening of two new residential sectors after which the authority would have ample funds to execute uplift schemes.
The 13-km-long Margalla Avenue will be constructed on the foothills of Margalla range. It will start from G.T. Road in the western side of Islamabad and from Sector D-12 will turn to the right side to meet Khayaban-i-Iqbal commonly called Margalla Road.
The CDA chief said the road would provide a new short-cut to traffic coming from Peshawar and northern parts of the country.
Interestingly, the project has been approved without addressing one of the major issues – acquisition of land – which the civic agency has been trying to get from the locals for the last many years.
A senior official of the CDA said there were some pockets in the alignment of the proposed road where it had to acquire land. “We also require money to pay compensation to the affected land owners,†he added.
The CDA chief said the project was required to meet future traffic load in the western side of the federal capital because the city was expanding in that direction.
Land revenue record of the local administration showed that some influential people have already purchased land in the right-of-way of the road and in its vicinity anticipating a big increase in its prices with the launch of the project.
A few years back, the CDA sought funds from the government to execute the project under the Public Sector Development Programme (PSDP) and even got Rs200 million in the 2009-10 budget. However, as the funds were not utilised, they lapsed.
Now the CDA has decided to execute the project on a self-finance basis and, as such, does not require any approval from government forums.
The Margalla Avenue project was shelved by former CDA chairman Imtiaz Inayat Elahi soon after assuming the charge of his office in 2008 with a view to protect the Margalla National Park Area from haphazard construction activities.