Islamabad: The Capital Development Authority (CDA) has revised the PC-1 and scope of low-cost Naya Pakistan Housing Programme (NPHP) apartments in Farash Town, according to news published on August 4.
CDA Chairman Amer Ali Ahmed presided over CDA’s Development Working Party (DWP) meeting and approved the revised PC-1 of the Farash Town apartments scheme, which will increase the cost from PKR 15 billion to PKR 31 billion. During the meeting, the project was renamed ‘Nilore Heights’, which will have high-end apartments.
According to the previous PC-1, the project encompassed 3,960 flats, out of which 2,000 were reserved for Naya Pakistan Housing and Development Authority (NPHDA), 400 for residents of the slums, and 1,560 were allocated for CDA to sell in the open market.
As per the revised PC-1, the apartment scheme will have 4,276 apartments while CDA will have 1,876 luxury apartments for sale in the market. Moreover, the civic agency plans to submit a summary to the federal cabinet to end the deal with NPHDA as the authority has failed to deposit the initial amount. In case the cabinet approves the termination of the deal, the project will have 3,876 apartments to sell in the open market. The said project was launched last year and it is expected to be completed by August 2024.
Iqra holds BS in International Relations and is passionate about writing engaging content on trending real estate topics. When not working, she is either spending time with family, shopping, or discussing shows & movies.
