After dealing with the impediments faced in the development of the disputed Kuri Model Village project, the Capital Development Authority (CDA) has finally taken up the construction work again and started taking possession of land. The civic authority has started razing built-up properties in the area to clear it for progress with the development work.
This is the second big step taken by the CDA in recent days, as it had also just started development work in the long-delayed Park Enclave project. According to a news source, the scheduled development in Park Enclave had fallen three years behind the deadline. My sympathies are with the Park Enclave investors, let’s hope that the development work will progress on priority basis.
In a recent meeting of the CDA Estate Management Wing with the CDA chairman in the chair, the impact of Park Enclave’s launch was discussed and at directions were given for possession of land in the Kuri Model Village. Almost 10 built-up properties in Kuri Model Village were demolished on October 17, which gives us the impression that the authority is really serious about the development work this time around. Fingers crossed.
We also learned that compensation payments would be made soon to affectees who will hand over possession to the CDA and will allow the authority to demolish their built-up properties. Not only that, they will also be given plots in the Kuri Model Village.
What woe for investors that the CDA had acquired 2,900 acres of land more than a decade ago, however, the landowners had not handed over possession, and the matter remained at the discretion of courts for a long time.
After the disposal of litigation issues in the court, the development work has finally started and the CDA seems to be taking concrete measures for the resurrection of its stalled projects including Park Enclave.
With this news, we can expect the prices of properties in Park Enclave and Kuri Model Village to display an uppish trend and activity to revive. If you have any stakes in Kuri Model Village and Park Enclave, please use the comments section below to tell us your views on this very recent and an significant initiative taken by the CDA.