Overseas Pakistani Friends

Islamabad: The Capital Development Authority (CDA) has cancelled the NOC issued for development of the Roshan Pakistan Housing Scheme in Sector E-16, as according to it, the planners of the project were not completing various formalities.

The CDA has informed the public and other concerned regarding cancellation of the No Objection Certificate (NOC) issued to the M/s Roshan Pakistan (RP) Corporation for development of Roshan Pakistan Housing Scheme in Sector E-16, Zone-II of Islamabad, with immediate effect. 

The CDA spokesman said that action had been taken by civic body because of non-completion of post-NOC formalities even after lapse of more than seven years after issuance of the NOC. Continue reading »

* Law and order, weak economy, land grabbing remain major factors

Poor law and order situation, unstable economy and land grabbing remained the major contributors towards dull activity in real estate sector during 2012, said Anwar Gagai Chairman Association of Builders and Developers of Pakistan (ABAD) on Saturday.

We still have enough demand but poor security and law and order situation became barrier in the way of investment in real state sector, he added. Government should take concrete measures to placate the situation other wise this sector would more adversely affect in 2013, he said.

Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Standing Committee for Real Estate Chairman Munir Sultan said country’s requirement was 1.5 million houses per year but around half of the numbers are built.

Quoting State Bank of Pakistan’s figures, he said only 4.5 percent contribution in GDP from real state sector was recorded in 2011-2012 fiscal year while it was 18.5 percent in 2005.

Munir termed it was a failure of government as they constantly showing apathy toward real sector resulting high housing backlog.

He said country has 12 million housing backlog, as it was just 6.6 million in 2005, increasing backlog is due to 4.5 percent population growth per annum according to World Bank and population influx in urban areas from rural areas.

Implementation of Real State Investment Trust (REIT) and mortgage finance is a need of the hour to stable real state sector as we approved REIT in 2002 but it was still unimplemented due to some flaws, government should review on it and implement on early basis, Munir added.

Although Karachi is facing security issues, which are impacting its real estate sector, yet this is for sure Karachi is still in the list of the most desirable areas to invest or live in Pakistan.

For the stability of Karachi realty sector, the government should try to fix the law and order situation in the city, cutting down mortgage rates and also to attract foreign investment.

Moreover, it has been observed Karachi’s unsafe atmosphere led a number of residents to move to other cities in search of peace and security. This migration, if one hand proved vital for Lahore real estate (others) and raised its property prices by as much as 30 percent, then on the other hand it also left a small blot on performance of Karachi real estate. By Abrar Hamza Daily Times

According to CDA officials, the legal hurdles have slowed down the authority’s action against businesses violating its building bylaws. Most of the restaurants, guest houses, bakeries, boutiques and private schools are being run unlawfully in residential buildings. Recently, strict actions were taken against them by CDA.

According to a CDA official, violators got a stay order from some court after which the CDA had to stop its operation against the owners of abusive property owners. There are over 1200 houses in the federal city that are being used for the commercial activities. However, the official said that the legal department would continue pursuing the violators.

The authority has to move on according to laws and cannot do much against the violators as they have obtained a stay order from the court.

The CDA has sealed eight farmhouses and eighteen houses for ‘non-conforming’ use of farmland and residential buildings but the activity slowed down after one week of action. The civic authority cannot seal a house protected by a stay order.

* March 31 set as final payment date for LDA Avenue-I allottees

In order to closely monitor the affairs of the approved private housing schemes in the city, Lahore Development Authority (LDA) Director General Ahad Khan Cheema on Wednesday set up a separate directorate, called Directorate of Estate Management (Private Housing Schemes), in the authority.

Headed by a director of general cadre, the directorate will function under the administrative control of Chief Metropolitan Planner of the LDA. It will prepare a proper land bank of the LDA properties and their disposal through auction in the private housing schemes.  Continue reading »

The Lahore Development Authority (LDA) has launched a crackdown on housing schemes which are illegally extending their society area and committing other violations of approved scheme plans.

In a joint endeavour on Tuesday, staff of Metropolitan and Town Planning wings of LDA stopped development works being carried out in the illegally extended area by the management of River Edge Housing Scheme, on Multan Road.

LDA had already lodged an FIR against the housing society for violating law. LDA says it has taken action against the housing scheme to safeguard the hard-earned money of intending buyers of plots.

River Edge Housing Scheme was approved by LDA in 2006 for an area of 765.75 kanals. It consisted of four blocks, namely Topaz, Sapphire Jasmine and Jade.

Later, LDA came to know that the management of the River Edge Housing Scheme had extended the scheme areas illegally and also started building some blocks illegally with the names of Rose, Tulip and Gold, besides illegally extending Topaz block.

The revised plan of River Edge Housing Scheme, including the plan for illegal extension of the scheme, submitted by its management had already been rejected by LDA.

LDA had informed the general public not to purchase any plot in the illegal extension of the scheme.

Meanwhile, management of the scheme had assured LDA that it would neither illegally extend area of the society nor would it sell the illegally carved out plots to people.

The management of River Edge Housing Scheme has also started dismantling the infrastructure constructed in the illegally extended area.

Meanwhile, in connection with its an ongoing drive against defaulters of commercialisation fee, staff of the LDA Commercialisation Directorate sealed 20 properties along Main Road Samanabad.

According to LDA, these properties were causing a huge financial loss to the authority by denying payment of the requisite amount.

In another move, staff of the LDA Town Planning Wing demolished an under-construction marriage hall on Multan Road near Hanjerwal.

The structure was being constructed in an LDA-controlled area without getting the plot commercialised. Building plan for the structure was also not sent to LDA for its approval. Daily Times