In a recent gathering convened at the Capital Development Authority (CDA) headquarters, Chairman Anwarul Haq led discussions on strategic reforms for commercial plots in Islamabad. According to reliable sources, the focus was on introducing policies to boost investment opportunities in the capital.
A significant decision was made to revise the Floor Area Ratio (FAR) for commercial plots, allowing for greater construction flexibility. Plots ranging from 3,000 to 4,999 square yards now have a FAR of 1:10, while larger plots of 5,000 square yards and above enjoy a FAR of 1:12. This adjustment provides expanded building space, enabling investors to expand their operations.
Additionally, developers are now permitted to build underground parking facilities along roadways, addressing the city’s parking congestion issues. This solution not only streamlines parking management but also improves traffic flow on urban roads.
Another key decision was extending the payment plan for commercial plots to two years, compared to the previous one-year duration. This change aims to help investors meet their financial obligations more comfortably, with possession of plots granted upon payment of 50% of the total amount.
Furthermore, the board introduced an incentive scheme to encourage prompt payments. Investors who make immediate payments are eligible for a 15% refund, with a more enticing 20% refund offered for transactions conducted in US dollars.
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