ISLAMABAD: Only three days after the Capital Development Authority (CDA) introduced the Park Enclave Housing Scheme on the Park Road here, the private sector has announced a housing scheme by the name of Bahria Enclave Islamabad.
The private one-kanal plot in the Park Enclave Islamabad Housing Scheme of CDA has been fixed at Rs12 million, while the scheme launched by a private developer by the name of Bahria Enclave opposite to the Park Enclave has one-kanal and 10-marla plots. The price of one-kanal plot has been fixed at Rs6 million and that of 10-marla at Rs3 million. The down payment for one-kanal plot has been fixed at Rs717,000 and it has been fixed at Rs408,000 for a 10-marla plot, while CDA has fixed down payment for a one-kanal plot at Rs3 million.
The needy people and investors are drawing comparison between the two schemes, located opposite to each other, for investment. The last date for submission of form for Bahria Enclave is July 20 while for the Park Enclave it is July 30. As far as the location is concerned, the two schemes are opposite to each other and enjoy equal importance, but the price of a plot in the private housing scheme is half as compared to the scheme launched by the CDA.
Secondly, the Bahria Town has completed its housing schemes in Lahore, Rawalpindi and Islamabad in a record period, whereas the track record of CDA shows that it still has not got the possession of land for one of the two sectors, D-12 and E-12, launched 22 years ago. The possession of plots is, however, being given now to the allottees in Sector D-12, but the development work has yet not been completed in the sector despite the fact that the contract for the purpose was awarded in 2005. The work was to be completed in 18 months, but practically only 60 percent work has been completed until now.
The CDA had launched Sector I-11 20 years ago, but the allottees are yet awaiting the possession of the plots, as slum dwellings still exist at the site. Sector I-15 was launched in 2005 and CDA earned billions of rupees through the sale of 5,540 plots and 8,000 flats, but the development work in the sector could not be initiated till date. The credibility of CDA has been badly hurt because of non-completion of work in the sectors that were launched during the last 22 years.
The developers, who launched Bahria Enclave, are of the opinion that they have kept the price low so that the people belonging to the middle class could also realise their dreams of owning a house in Islamabad. The objective of developing 10-marla plots is also the same, they say.