CDA should offer special lease renewal rates for F-8: ICCI

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Islamabad—President Islamabad Chamber of Commerce and Industry (ICCI), Yassar Sakhi Butt, has said the value of commercial property of F-8 Markaz has gone extremely down due to illegal occupation by lawyers in front and around of plazas.

“It is high time for courts to be shifted from the centre of posh residential sector which would give a sign of relief to the landlords and the residents of the locality,” the ICCI president made these remarks during a meeting with the landlords of F-8 Markaz at Jinnah Convention Centre Islamabad.

The President ICCI said that the lease renewals rates of plazas in F-8 Markaz are at par with F-6 aned F-7 Markaz which is not fair. Landlords here are suffering for the last more than 20 years, so he underlined the need to review the rates charged to the landlords of F-8 Markaz.

He was of the view that traffic nuisance, waste mismanagement and chocked sewerage have become hallmark of the area as well as the entire residential community has been put on high security risk and the customers were not able to approach the market because of placement of steel wires surrounding the court premises.

Yassar Sakhi Butt emphasized on shifting the courts from F-8 Markaz and urged the Capital Development Authority (CDA) and other concerned bodies to finalize it ans shift the courts on war footing. He also called upon the Government to compensate the landlords of F-8 Markaz instead of levying taxes even on vacant properties.

Expressing their grievances, the landlords of F-8 Markaz said that presence of police offices and courts in the F-8 Markaz was also a predicament for the residents of the sector and visitors to the commercial area adjacent to the courts. They said that car parking issue of F-8 Markaz would be solved if courts will be shifted to any other proper place.

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CDA should offer special lease renewal rates for F-8: ICCI
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