Islamabad: The Capital
Development Authority (CDA) board has stated that the payment schedule for
auctioned properties would be relaxed due to the COVID-19 outbreak, a news
source reported.
CDA held its third board meeting of 2020 on Monday. CDA Chairman Amir Ali Ahmed chaired the meeting, while the rest of the board members were present on the occasion.
The board said that no delayed payment charges would be levelled against those who submit the instalments due in April and May later than the assigned date. The board deliberated that due to the coronavirus spread and ensuing lockdown, the business community is unable to submit their instalments.
CDA sells commercial and residential plots through auction bids and gathers total upfront payment of plots in quarterly instalments. If an individual fails to submit the due payments, they are charged with delayed payment charges – determined by the finance wing of the civic agency.
According to reports, CDA expected over PKR 1 billion in the April and May instalments. However, those payments will be collected when the current situation improves.
