Hi, just thought of compiling miscellaneous property updates under this thread.
Some of the relevant threads are closed to post any updates.
MoU has been signed for building 6000 flats and developing Sector I-15 in Islamabad with Chinese company CRFG (China Railway First Group).
The Capital Development Authority (CDA) is going to open two new residential sectors during the current fiscal year.
The CDA is expected to generate over Rs 11 billion from these sectors.
A senior CDA official said it would be difficult for the civic body to meet its budgetary target for the coming financial year unless it opens two new residential sectors.
“We are preparing to open the two new sectors – C15 and C16 – before June 30, 2014,†the official said.
He said the civic body already announced the award of two residential sectors about five years back, but progress could not be made for various reasons. “We will compensate the affected people as per the land-sharing formula and the agreement reached in 2008,†the official added. The official said they had earlier set the target of getting the land vacated for two sectors by July 31 this year.
How come CDA announce new sectors while they are far behind the development of sectors announced 30 years back? i.e E-12 and I-12 like sectors are far behind the schedule of development.
Because new sectors bring new money. They have already sold the other ones.
MBS this thread is good initiative on your part. Regards
Thanks Ihsan. Need your support to keep it going 
Capital Development Authority (CDA) is planning a Mega Development - "The Economic and Multipurpose Zone" . It will be established on approximately 260,179 kanal of land in Rawat and its adjacent districts.
The proposed area is on the South West part of Islamabad... Further south of bahria town. To draw a visual line, use Rawat as starting point on east and stretch it horizontally on West towards motorway.
Its being said that the project will engulf over 40 villages in the area, encompassing 25,000 acres at an expected cost of Rs. 70 billion
Apparently, there will be a major support from Chinese in order to develop this zone.
Dear MBS,
Indeed, I will play my part as I have benefited a lot from this forum, and now paying back for the benefit of all other members with my little knowledge whihc I have got over here. Thanks
500,000 housing units thru "Mera Ghar" Scheme
The Prime Minister was briefed by the Turkish delegation that Turkey has devised a revenue sharing model according to which 15 % of their housing stock is diverted towards Revenue Generation and the remaining 85% towards Social HousingÂ. The Social Housing scheme comprises of two main components wherein firstly; the land is provided by the government and secondly; a flexible payment schedule is offered according to affordability.
I think there will be some major development in this regard when PM Nawaz Sharif visits Turkey in next few weeks.
I hope so dear MBS.
REgards
Prime Minister Muhammad Nawaz Sharif on Wednesday visited Turkey's low cost housing project Toki, with a view to establish similar housing schemes in Pakistan.
He also mentioned his meeting with Turkish housing investors in Pakistan thrice and said this sector had the vast potential for investment for the growing population of 180 million.
Margallah Hill Society (MHS) has knocked at the door of Supreme Court against the proposed project of tunnel under Margallah Hills to link Islamabad and Haripur through a shorter route.
The Economic and Multipurpose Zone -not welcomed by the local residents??
Action Committee for Protection of Landowners having representation from 42 villages lodged a big protest against the proposed acquisition of their land by Government.
The 42 villages have an estimated population of over two million and cover an area of over 25,000 acres.
The establishment of economic and multi-purpose zone is part of a mega Rs1.3 trillion ($12 billion) project that includes establishment of a twin capital across the Margalla Hills, construction of a new airport near Rawat and high-rise buildings on both sides of Islamabad Highway.
Other side of the story is; soon after the PM declared the intention of developing this zone in Rawat, local property dealers approached the residents and offered to buy their land on ridiculously cheap rates. And allegedly they made statements like government will forcefully take over their land soon anyway if they don't sell it to them now.
After that the villagers were naturally agitated and struck with a big protest.
However, on the protest they were assured by CDA Chairman, that nothing has started yet and when it does they will be duly paid for their land.
As per plan, the Pakistan Avenue Development Limited, a subsidiary of the CDA, would purchase the land for Rs22 billion. The Punjab government has already notified the process under the Land Acquisition Act 1894.
Moral of the story, some dealers tried to rip off the villagers in a perfectly stupid way by giving a completely wrong impression of the project.
Dear MBS
That means Economic zone at rawat will definetly be announced soon. What will be its effect on the neighbouring societies like Bahria and DHA phase II?
Regards
Some body told me that the project of the new airport near Rawat cannot be implemented and future airport cannot be operated because of kahuta as flights may expose kahuta which is a sensitive area?
What will be its effect on the neighbouring societies like Bahria and DHA phase II? and Gulberg?
Regards
No airport is going to be announced or made in Rawat, this is for sure. This has been discussed many times before on this forum. Bahria Town Phase 8 and DHA 2 prices are increasing, not because of the airport rumor (it has affected but not very much), actually, prices have increased because of the Economic Zone and will continue rising. Regards,