ISLAMABAD: In a significant development, after 17 years, the Defence Housing Authority (DHA) has transferred allotment letters for 729 plots, collectively valued at billions of rupees, to the Capital Development Authority (CDA).
As per the newspaper report, in a statement, the CDA announced that the longstanding issue of 729 plots had been resolved after the DHA issued allotment letters for the plots in favor of the CDA, as part of the land exchange from 2007-8.
In 2007-8, the CDA had transferred 2,400 kanal of land to the DHA, and in return, the latter was supposed to provide the civic agency with 729 developed plots.
According to a CDA spokesperson, the 729 plots located in DHA Phase 6 Block A will be offered to overseas Pakistanis and the general public.
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This major development surfaced ahead of a new agreement between the CDA and DHA, under which DHA will develop 10,000 kanal of land in the Kuri area.
However, the CDA requested the DHA to fulfill its previous commitment before entering into a new venture with the civic agency. “The longstanding issue regarding the transfer of 729 plots from DHA to CDA has been amicably resolved,” the CDA stated in its announcement.
“The CDA has now decided to offer 729 residential plots to general public and overseas Pakistanis. This was decided in a meeting held at CDA headquarters chaired by CDA Chairman Muhammad Ali Randhawa. The meeting was attended by all board members and senior officers of the authority,” read the press release.
“The matter had been lingering and remained unresolved since 2007-2008 when the CDA had handed over 2,412 kanals and five marlas of land to the DHA under an agreement.
According to the original terms, the CDA was to receive 729 plots against that land but the agreement could not materialise for years. Under a fresh agreement, DHA has now handed over the 729 plots to CDA,” the press release said.
An official said that if DHA honoured its both commitment of giving possession of the above-mentioned 729 plots as well as 55pc share in the develop plots in Kuri, then this new deal was good for civic agency as without making any new investments, it would get thousands of developed plots.
Report Says, earlier, CDA Chairman Mohammad Ali Randhawa told the meeting that the issue had been unresolved for over 15 years but through proactive efforts and positive approach it had been settled. “This is a major achievement for the CDA as it demonstrates the resolve to protect the authority’s interests and its assets,” he said.
“These 729 plots…will not only generate substantial revenue for the CDA but also open doors for new development and investment opportunities in Islamabad. The revenue generated through these plots will be utilised on the projects that will directly benefit the people of Islamabad,” the CDA chief claimed.
According to the press release, Chairman Randhawa lauded the efforts of all those involved in the resolution of the long-standing issue.
It is relevant to note here the federal cabinet recently approved a joint venture between the CDA and the DHA for developing the Kuri model scheme on under a land-sharing formula. As per the agreement, the CDA will have a 55pc share in the plots while DHA will get 45pc plots.
Previously this year, the CDA announced in an advertisement that it intended to develop the project through a private partnership. In response, several developers, including DHA, submitted their applications in February.
