![\"cda\"](\"http:\/\/www.zameen.com\/blog\/wp-content\/uploads\/2016\/11\/CDA.jpg\")
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The Capital Development Authority (CDA) is undergoing a financial crisis, partly because it is sharing the financial burden of the Municipal Corporation of Islamabad, which was created recently. Furthermore, the slowdown in market activity has also contributed to the financial crunch.<\/p>\n
Amid all this, the civic authority has planned to launch two new sectors to increase its revenue. On the other hand, the authority is also planning to increase property transaction charges. It has been estimated that the authority can earn up to Rs 20 billion by launching Sector C-15 and Sector C-16.<\/p>\n
According to a news source, the CDA finance wing has explained the situation to the mayor of Islamabad and has also given suggestions to generate more revenue. In a letter written to the mayor, the finance wing stated that the CDA had failed to earn budgeted revenue over the last several years, making it difficult for the authority to meet its expenses and pay off its outstanding liabilities.<\/p>\n
Private housing schemes may also be required to pay a certain fee, according to the proposal. The civic authority plans to levy a transfer fee on individual units purchased or sold in high-rise buildings and commercial developments, claiming that all units in such projects are traded without any involvement of the authority.<\/p>\n
On the other hand, the CDA has offered to survey leases of the its land in various sectors in order to check if any renewals are required. The authority expects that it can generate up to PKR 1,000 million to PKR 2,000 million through this initiative.<\/p>\n
In the letter written to the mayor, the finance wing has suggested that the estate wing of the authority should make quarterly plans for the auction of properties in the federal capital. Reportedly, the estate wing has not been able to auction any property even in the second quarter of the financial year and the total revenue the CDA plans to earn from this source is PKR 6 billion.<\/p>\n
The letter also stated that the authority has sold plots in the developed sectors to compensate the affectees of Sector H-16 and Sector I-17, which according to the finance wing is not the prudent use of money.<\/p>\n
The CDA management is planning to take some concrete measures to increase its revenue. Let\u2019s see how the future unfolds for the civic authority.<\/p>\n
If you want to add to this information, please feel free to share your views in the comments section below.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Capital Development Authority (CDA) is undergoing a financial crisis, partly because it is sharing the financial burden of the Municipal Corporation of Islamabad, which was created recently. Furthermore, the slowdown in market activity has also contributed to the financial crunch. Amid all this, the civic authority has planned to launch two new sectors to increase its revenue. On the other hand, the authority is also planning to increase property transaction charges. It has been estimated that the authority can earn up to Rs 20 billion by launching Sector C-15 and Sector C-16. According to a news source, the CDA finance wing has explained the situation to the mayor of Islamabad and has also given suggestions to generate more revenue. In a letter written to the mayor, the finance wing stated that the CDA had failed to earn budgeted revenue over the last several years, making it difficult for the authority to meet its expenses and pay off its outstanding liabilities. Private housing schemes may also be required to pay a certain fee, according to the proposal. The civic authority plans to levy a transfer fee on individual units purchased or sold in high-rise buildings and commercial developments, claiming that…<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[],"persona":[],"class_list":["post-23639","post","type-post","status-publish","format-standard"],"acf":[],"yoast_head":"\n