Islamabad: In a recent gathering convened at the headquarters of the Capital Development Authority (CDA), Chairman Anwarul Haq spearheaded discussions on strategic reforms pertaining to commercial plots across Islamabad, as reported by reliable sources. Central to these deliberations was the introduction of transformative policies aimed at enhancing the investment landscape within the capital.
In a move aimed at fostering business expansion, the board has revised the Floor Area Ratio (FAR) for commercial plots, effectively granting greater leeway for construction. Specifically, plots spanning between 3,000 to 4,999 square yards are now allocated a FAR of 1:10, while larger plots measuring 5,000 square yards and above enjoy a FAR of 1:12. This adjustment translates into expanded building space, offering investors ample opportunities to scale their operations.
Additionally, developers have been granted authorization to construct underground parking facilities along roadways, thereby addressing the persistent challenge of parking congestion within the city. This innovative solution not only facilitates efficient parking management but also ensures the smooth flow of traffic across urban thoroughfares.
A pivotal decision taken during the meeting was the extension of the payment plan for commercial plots, which now affords investors a more accommodating timeframe of two years, compared to the previous duration of one year, thereby facilitating the fulfilment of their financial commitments. Under this revised framework, investors stand to acquire possession of their respective plots upon payment of 50% of the total amount.
Furthermore, the board announced an attractive incentive scheme designed to incentivize prompt payments. Notably, investors opting for immediate payments are eligible for a substantial 15% refund, with an even more appealing 20% refund offered for transactions conducted in US dollars.
Samra Zulfiqar, a real estate analyst at Zameen.com, is passionate about finding projects that offer buyers the best returns. Her keen insights spotlight the market’s most promising opportunities.
