Real Estate: Where to invest in Islamabad?

CDA has earmarked budget of 24 Billion Rupees for development of various projects this year.

These propjects include development of sector I-12, I-15, E-12, E-13, C-14, C-15 and C-16.

CDA BUDGET FOR THE FISCAL YEAR 2020-21:

Islamabad: June 17, 2020: Capital Development Authority has approved the landmark development focused budget estimates with total outlay of 49 billion rupees with surplus of 10 billion rupees for the Financial year 2020-2021. As per approved budget estimates, expected receipts are 49 billion rupees while expected expenditure is 39 billion rupees. Out of 39 billion expenditure, 24.5 billions which is 63 percent will be spent on 89 development projects while 14.4 billion which is 37 percent will be spent on non development expenditure.

The budget estimates for Financial Year 2020-2021 are in contrast to previous year whereby total budget outlay was 20 billion with 36 percent development while 64 percent non development expenditure .Out of 49 billion rupees receipts, CDA will receive 5843.288 million rupees from Federal from PSDP and 2601.44 rupees from Federal Government as maintenance grant. CDA will generate 4310 million rupees from its own revenues including transfer fee, building fee , water charges, property tax etc. Similarly CDA is expected to generate 24585 .28 million rupees from auction proceeds including sale of new Blue Area sale, sectoral auctions, Extension of Park Enclave etc while amount of 1568.77 million rupees is expected to be transferred from MCI. Revised estimates for Financial Year 2019-2020 have also been approved. The approval was granted by CDA Board in its meeting held at CDA headquarters on Wednesday.CDA has managed 49 billion rupees budget despite the fact that in last four years CDA spent more than 22 billion rupees on MCI out of which around 16 billion rupees are still outstanding.

As per approved budget estimates for year 2020-2021, Capital Development authority will spend money on 89 development projects in Islamabad, the largest ever number for single year of development projects in the capital city. Out of these 89 development projects, 66 development projects are new while 23 are the ongoing development projects. The main development projects for next financial year include Construction of Korang Bridge, PWD Underpass, Water from Indus feasibility and land acquisition and Construction of 10th Avenue from Public Sector Development Program (PSDP).

From its own resources CDA will fund the projects which mainly include City Rehabilitation Projects which includes low cost housing for slums, cleaning of nullahs, public toilets, Smart traffic system, Housing for BS1-01 to BPS-16 employees, preservation of green areas , forests parks, land fill and public transport. Similarly Projects like construction of Interchange at 7th Avenue and Park Enclave Extension will also be funded from CDA s own resources. Non Development expenditure will include 2601.44 million rupees as maintenance grant, 11877 million rupees as employees related and operational expenses and 2112.40 million rupees as MCI expenditure for three months.

CDA also invited tenders for development of Park Enclave II

Islamabad: June 15, 2020: After nearing completion of development works in Park Enclave-I, Capital Development Authority (CDA) is all set to launch development activities in Park Enclave-II. In this context, process for initiating development works in Park Enclave-II has been started as bids for infrastructure development works in the project have been invited.

CONSTRUCTION OF 10TH AVENUE IN ISLAMABAD:

Islamabad: June 12, 2020: Capital Development Authority will execute the project for construction of 10th Avenue in Islamabad. Federal Government will provide funding for the project through PSDP. CDWP has approved the plan by CDA for construction of 10th Avenue. The 7.6 Kilometers long 10th Avenue will be constructed in three phases . In first phase 10th Avenue will be constructed from Kashmir Highway to Service Road (North) I-9/I-10, in Second phase from Service Road North I-9/I-10 to IJP Road and in third phase from Kashmir Highway to Khayaban-e-Iqbal. The completion period of the project will be three years. The cost of the Phase 1 of the project is 3901.225 millions, phase II Rs. 3451.225 millions and Phase III is Rs.3725 .550 millions. Total PC I cost of the project therefore is Rs.11078.000 millions

Incumbent CDA Administration has been working on a comprehensive strategy to boost infrastructure in Islamabad and develop long neglected residential sectors. Accordingly development works in Islamabad are witnessing a new pace. Construction of 10th Avenue is part of Master Plan of Islamabad but remained overlooked by successive CDA managements despite its dire need. Incumbent CDA Administration which is sensitive to needs and of the city and problems of people decided to take up this project. The construction of 10th Avenue will straightly benefit the people living in I-10,H-10,I-9,H-9,G-10 and F-10. The project will ease traffic congestion on Faqeer Appi Road and 9th Avenue.

When initiated, the project will include road work, construction of overhead bridge at Margalla Railway station, underpass at H-9/H-10, Interchange at Kashmir Highway, Rehabilitation/resettlement of slum in Sector H-9, underpass at I-9, I-10, box culvert / nullah bridge, interchange at IJP Road, underpass at G-9/G-10, underpass at Ibne-e-Seena Road, underpass at Jinnah Avenue and underpass at F-9,F-10.

ROADS CARPETING TO THE TUNE OF Rs.220 MILLION TO BE STARTED IN ISLAMABAD:

Islamabad: June 2, 2020: Carpeting of roads to the tune of Rs. 220 million to be started in Islamabad. Funded by the Federal Government, this project will be executed through CDA. Particular attention will be paid to carpeting the streets. Carpeting work will be carried out across Islamabad in all sectors. Tenders in this respect have been invited and MPO will also be engaged for this purpose.

DEVELOPMENT WORK IN SECTOR E-12/2 & E-12/3:

Islamabad: May 29, 2020: Capital Development Authority (CDA) has started process for initiating development works in sector E-12/2 and E-12/3. Tenders for development works of both sub-sectors have been invited through national newspapers.

CONSTRUCTION WORK OF SIGNAL FREE CONTROLLED ACCESS CORRIDOR:

Islamabad: May 3, 2020 Capital Development Authority (CDA) to resume work on construction of Signal Free Controlled Access Corridor shortly. In this connection, bids for construction of Korang Bridge have been invited. The NIT cost of the project is Rs. 741.395 millions.

The project Signal Free Controlled Access Corridor was approved under PSDP. Considering the need of this facility it was decided that a phased wise approach will be followed and in phase-I, Korang Bridge and PWD underpass are needed to address most complicated of the issues.

The Development Working Party (DWP) in its last meeting held in the previous week approved project construction of Korang Bridge and Construction of PWD underpass. Upon approval by CDA Management, a transparent bidding process has been initiated, and bids for construction of bridge has been sought under Single Stage Two Envelope procedure from Firms registered with Pakistan Engineering Council having valid registration Certificate. Similarly, instructions have been also issued to invite bids for construction of PWD underpass at earliest.

Mariner Property Services Recommendations:

Best time to invest in CDA sectors I-12, I-15, E-12,  C-15 and C-16.

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Author: admin

Started Real estate business as Mariner Property Services in Islamabad after retirement as Merchant Ship Captain 2004. Real estate always fascinated me as myself was investor in Real estate and I am still an investor. I found out that serious investors need a serious, sincere and honest adviser. I do very selected deals free of any doubt

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