The Capital Development Authority (CDA) intends to auction more commercial plots next month to raise Rs. 20 billion, but it has yet to create a computerized record of its remaining commercial land bank.
According to the details, the CDA intends to fund its development and non-developmental expenses through the sale of commercial land; however, it lacks a digitized record on saleable plots worth billions of rupees, which is required for long-term planning.
According to reports, the civic agency has a computerized record of the remaining commercial plots in the land bank, and this always causes CDA to identify remaining plots through a lengthy process after top officials order it to do so.
According to reports, dealing officers from the federal capital’s residential sectors, the CDA’s Planning, and Estate wings always meet to prepare the list of plots for the auction.
In this regard, a senior Estate Wing officer confirmed that CDA does not have computerized data on various commercial plots in the F-6 and F-7 sectors. He went on to say that if the city knew where its properties were, it could generate more revenue.
He also stated that plots in older sectors are more expensive than those in newer or less developed ones. Furthermore, investors are unwilling to pay high rates for commercial plots in new areas, costing the CDA billions of rupees.
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