Islamabad: According to news reports, Federal Planning Minister Asad Umar announced on Wednesday that the Islamabad Regulatory Authority (IRA) will be established under the Metropolitan Corporation Islamabad (MCI) and the Capital Development Authority (CDA) to regulate the buying and selling of land in the capital city. MCI will be a regulatory authority under the planned Islamabad Regulatory Bill, whereas CDA will be a land purchase and sale regulator.
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Asads Umar, the Federal Minister for Planning, Development, and Special Initiatives, claimed that no one will be able to buy land from citizens in Islamabad for housing societies. He went on to add that Section 4 of the Land Acquisition Act of 1984 will be repealed, and that no new land will be acquired. He further stated that the discrimination between Islamabad’s urban and rural areas will be abolished as a result of this law.
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According to another source, the CDA Act of 1960 has been changed, and no government or other entity can use Section 4 for land purchase. He further stated that land already purchased under Section 4 but not yet paid for will be regarded null and void. The price of the land will be determined by market conditions.
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