Islamabad: After reviewing the earlier computed rate and lowering the sum to an incredible Rs237.5 million, the Capital Development Authority’s (CDA) estate wing has awarded a site to the owner of a private school measuring 11 kanals in H-8.

Read More: Privatization Commission, CDA board to discuss Convention Centre’s sale

The CDA awarded the land at the rate reserved for amenity plots as a result of its confirmed decision.

According to sources, a property allocated to the school in F-11 in 2007-8 was later rejected because, among other things, inhabitants of F-11 were opposed to its earmarking in the neighbourhood. Following the court’s directive, the CDA reheard the case, restored the plot, and relocated it to H-8, which is reserved solely for educational institutions.

However, the CDA has opted to charge Rs84,716 per square yard, implying that the plot allottee must deposit Rs. 470 million in the CDA kitty in order to receive the assignment letter.

Read More: Renovation of museum building in F-9 underway, according to CDA

“In compliance with the Honourable Supreme Court of Pakistan’s judgment/decision dated 30-9-2016 in Civil Petition… of 2014 and Civil Review Petition of 2015, your request has been considered/examined by Member (P&D), CDA and acceded to, and Authority has decided to offer plot no. 101 measuring 5614.40 square yard in Sector H-8, Islamabad,” it added.

According to sources, the rate was set, and it was reflected in the offer letter released in May 2021, which was in line with the rate set for institutions.

Read More: Government forms committee to resolve CDA land compensation issues

The estate wing, on the other hand, sent a revised offer letter with a lower rate of Rs42,358, down from Rs84,716 (decreasing the total cost from Rs470 million to around Rs238 million). After this offer was accepted, the final allotment was made.

Stay tuned with Tajarat Property for more updates or information about the top-notch real estate projects like Blue World City or Blue World City Islamabad.