Rawalpindi: The Rawalpindi Development Authority (RDA) has formalised new rules catering to the provision of commercial units in high-rise apartment projects, a news source reported. The decision has been taken to reduce traffic load in the city.
As per this revised framework, the builders of apartment projects can now reserve 10% of a development’s total area for commercial purposes. However, this facility is not available for residential plots featuring built housing units.
The proposal in this regard was presented before the RDA’s 45th Governing Body Meeting and was approved with the mutual consent of all members. The session attendees also decided that the developers of such projects – willing to commercialise up to 10-percent of its area – would be required to pay a commercialisation fee.
Commenting on the decision, RDA Spokesperson Hafiz Muhammad Irfan said that the decision has been taken to promote the trend of vertical constructions in the city. He also confirmed that the provision is only applicable to the developers of high-rise apartment buildings and not on the owners of residential plots in private housing schemes.
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.
