Future Perception of Islamabad Real Estate

Properties available for investment

PROCEDURAL GUIDELINES & RULES FOR LAUNCHING A PRIVATE HOUSING SCHEME
FEDERAL CAPITAL CITY – ISLAMABAD
CAPITAL DEVELOPMENT AUTHORITY
INVESTMENT OPPORTUNITIES:
• Housing sector
• Building / construction in commercial areas
• Infrastructure
• Information Technology / High-tech Industries
• Recreation and entertainment
ISLAMABAD CITY’S HOUSING PROFILE:
Present Population 7, 50,000
Existing Housing Units in sectors 75,000 Units
Housing units required 1, 25,000 Units
Existing “Shortage” 50,000 Units
Additional demand per year 4,000 Unit
* Shortage mainly amongst low income groups
HOUSING SECTOR PROJECTS AVAILABLE:
• Development of sectors D-12, E-12, I-14, I-15, I-16 (30,000 units)
• Development of new housing sectors
• 53 Acres of land for high rise residential apartments in E-11 facing Margalla Hills. 6
• Possibility of resort housing in Zone IV.
• Low cost housing in various sectors.
PROCEDURAL GUIDELINES AND RULES - HOUSING & REAL ESTATE DEVELOPMENT IN ISLAMABAD
MODALITIES PROCEDURES FRAMED UNDER ICT (ZONING) REGULATION, 1992 FOR DEVELOPMENT OF PRIVATE HOUSING SCHEMES IN ZONES TWO & FIVE OF ISLAMABAD CAPITAL TERRITORY ZONING PLAN
PROPOSAL FOR A HOUSING SCHEME:
(1) A housing scheme can be sponsored by a registered company or a co-operative society, hereinafter referred to as sponsor, for an area not less than 200 acres falling within Zone-2 and 100 acres falling within Zone-5 of the ICT Zoning Plan.
(2) The sponsor shall not advertise or publicize the proposed scheme in any manner except in accordance with these Modalities and Procedures.
The sponsor shall submit the following documents for preliminary scrutiny.
o Two copies of Site Plan of the proposed scheme at a scale of 1:10,000 indicating its location with reference to important land marks and permanent ground features.
o Registration documents of the sponsors including certified true copies of Articles and Memorandum of Association and Aims & Objectives of the Society as the case may be.
o Statement of verifiable financial resources through last audited balance sheet of the registered Company or certified accounts of Co-operative Society.
o In case the documents are deficient in any manner, the same shall not be accepted and returned to the sponsor.
SCRUTINY FEE: A non-refundable scrutiny fee (departmental charges) of Rs. 10,000/- per scheme shall be payable to the Capital Development Authority, Islamabad, by the Sponsor for the preliminary scrutiny of the proposed scheme. The payment shall be made through a bank draft/pay order. The scrutiny fee is, however, subject to revision by the Authority from time to time.
PROCEDURE FOR PRELIMINARY SCRUTINY:
(1) The proposal shall be scrutinized by a Committee comprising of:
i. Member Planning Chairman
ii. DDG Planning Member
iii. Any other officer/officers of the authority whom the Committee may like to co-opt. Member
(2) The scrutiny shall be completed by the Committee within 30 days.
(3) In case the committee considers the scheme tentatively feasible it will inform the sponsor accordingly. Otherwise, the committee shall inform them of the objections and reconsider the scheme after settlement of the same.
DOCUMENTS TO BE SUBMITTED BY THE SPONSORS: In case the application qualifies the scrutiny by the committee, the sponsors shall be advised to meet the following requirements:- 7
i) Three copies of the site plan showing location of the scale of not more than 1:10,000 with reference to its surrounding areas (within a radius of ½ km all around) and the land use plan of the zone in which it falls.
ii) Three copies of survey plan of the site drawn to a scale of not more than 1:1000 showing Khasra numbers, the spot level and physical features such as high tension lines, water channels, etc. The contours with 0.5 meters or 2 feet interval shall be indicated on the plan.
iii) Three copies of layout plan drawn to a scale of not more1.1, 000 showing, the sub-division of land into plots, and allocation of land for various uses in accordance with the planning standards laid down by the Government of Pakistan in the “National Reference Manual on Planning and Infrastructure Standards.
iv) Layout Plan should be prepared and signed by a qualified Town Planner of a firm of Consultants as may be approved by the CDA from time to time.
v) A certificate from the Tehsildar, ICT, certifying sponsor’s ownership of the land covered by the proposed scheme shall also be provided on one of the copies of survey plan referred to at (ii) above.
PLANNING STANDARDS:
(1) The planning standards may vary from scheme to scheme depending upon the residential density desired to be achieved by the Sponsors of the schemes. But the land use percentages must remain within the following limits.
(a) Residential not more than 55%
(b) Open/Green Spaces/Parks not less than 8%
(c) Roads/Streets not less than 26%
(d) Grave Yards not less than 2%
(e) Commercial and Parking not more than 5%
(f) Public buildings like school, mosque, dispensary, hospital, community centre, post office etc. not less than 4%
(2) The minimum size of residential plot will be 200 Sq.Yds.
(3) In Zone-2, the layout plan of the scheme shall conform to standard sectoral layout plan of Islamabad.
(4) The easement of nullah, etc., shall be clearly identified and preserved as open spaces.
CLEARANCE OF DETAILED LAYOUT PLAN OF THE SCHEME:
(1) Objection, if any, in the layout plan will be communicated by registered post acknowledgement due to the sponsors for rectification within a period not exceeding 30 days of issuance of communication, failing which the scheme will not be processed further till removal/settlement of objections.
(2) After the layout plan submitted is cleared, the sponsor shall:
i) Execute an undertaking regarding acceptance of the conditions relating to planning, designing and implementation of the scheme;
ii) Deposit the entire development cost of the scheme with the Authority. The amount of development cost shall be assessed by the Authority on the basis of prevailing cost of development. The amount shall be deposited within 45 days of the clearance of detailed layout plan of the scheme;
iii) In case they do not feel inclined to deposit the development cost of the scheme, mortgage 30% of the saleable area in the detailed layout plan with the Authority as a Guarantee for completing development 8 works/services within the period specified. The mortgage deed shall be executed by the sponsor and get registered with the Registrar Islamabad, within 30 days after clearance of detailed layout plan of the scheme;
iv) also transfer to the Authority free of charge, the land reserved for open spaces/parks, grave-yard, and land under right-of-way of roads, etc. in the scheme, within 45 days of the clearance of the detailed layout plan of the scheme.
PUBLIC NOTICE OF PLOTS MORTGAGED WITH CAPITAL DEVELOPMENT AUTHORITY IN THE SCHEME:
A public notice, shall be published in the press, at the expense of the sponsors, regarding the mortgage of plots under saleable area with the Authority by the sponsors within 5 days after mortgage deed has been executed between CDA and the sponsors.
ISSUANCE OF NOC:
(1) The NOC conveying the approval of the detailed layout plan of the scheme shall be conveyed to the Sponsors after the registration of the mortgage deed and transfer deed in favor of CDA, and meeting the objections, if any, received in response to the public Notice.
(2) The sponsors shall thereafter be allowed to advertise the scheme.
(3) The validity of the NOC shall automatically be deemed to have been withdrawn in case the sponsors do not complete at least 10 percent of development works within one year from the date of issuance of the NOC.
COMPLETION PERIOD OF THE SCHEMES:
(1) The sponsors shall be required to complete the development works o the scheme within the time indicated as under:
(a) Scheme covering an area of 100 acres. Three years
(b) Scheme covering an area between 101 acres to 200 acres. Four years (c) Scheme covering an area between 201 to 400 acres. Five years
(d) Scheme covering n area of more than 400 acres. Six years
(2) IF THE COMPLETION OF THE SCHEME IS DELAYED BEYOND THE COMPLETION PERIOD SPECIFIED by the party, THE SPONSOR SHALL PAY A SUM OF Rs. 5, 00,000/- for grant of extension for a period of one year. No further extension shall be granted.
COMMENCEMENT OF DEVELOPMENT WORKS: The sponsors shall mobilize their resources to start implementing the scheme within a period of six months after the issuance of the letter of approval of engineering designs and detailed specifications by the CDA.
IMPLEMENTATION OF SCHEME BY THE CAPITAL DEVELOPMENT AUTHORITY ON BEHALF OF THE SPONSORS: CDA MAY TAKE UP PLANNING, DESIGN AND IMPLEMENTATION OF THE SCHEME, IF REQUESTED BY THE SPONSORS, ON PAYMENT OF DEPARTMENTAL CHARGES @ 8% OF THE TOTAL COST OF THE SCHEME. The rate of departmental charges is subject to revision by the CDA from time to time.
PAYMENT OF INSPECTION/MONITORING FEE TO THE CDA: The Sponsors shall pay to the CDA Rs. 1000/- per acre on account of inspection/monitoring expenses during the execution stage of the scheme.
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SOME OF THE PROMINENT PRIVATE HOUSING SCHEMES OF CDA:
ZONE-II & SECTOR E-11
NOCS ISSUED
Margalla View M/s. Twin City Housing (Pvt) Ltd. (2018 Kanals) Sector D-17 (1118 plots)
Khayaban-e-Kashmir M/s. Jammu & Kashmir Coop. Housing Society (3480 Kanals) Sectors G-15 & F-15) (2516 plots)
New Islamabad Garden M/s. Capital Builders (Pvt) Ltd). (800 kanals) (Sector C-17)
Housing Scheme of Cabinet Division Employees Cooperative Housing Society (4400 Kanals) (Sectors E-16 & E-17) (2749 plots)
National Police Foundation (1325 Kanals) (1262 plots)
Source: Capital Development Authority, Islamabad
ISLAMABAD RESIDENTIAL SECTORS ZONING (BUILDING CONTROL) REGULATIONS 2005:
• Only such types of buildings/structures can be constructed in Islamabad Capital Territory plots, which are in accordance with the Master Plan / Functional Plan / these regulations and/or as described in the terms and conditions of allotment of respective plot(s).
• A non-conforming use of a building may render the owner and the occupant of the building liable to penalty and eviction from the building and the allotment/conveyance deed of the plot may also be cancelled.
• Authority may consider change of land-use on request of allottees, with or without charges, provided that, the LAYOUT Plan and FUNCTIONAL Plan framed for the same permits such change.
• A house, apartment, flat in a residential building, may be used by its resident professional such as Architect, Town Planner, Lawyer, Doctor, Engineer etc. for “Home Occupation” with prior permission of the Authority, provided the overall residential character of the building/apartment is not changed and not more than two rooms/not more than 25% of covered area of the floor on which it is located. Further more it shall not constitute, in any way, nuisance to the neighbors in any form as determined by the Authority.
PERMISSION FOR CONSTRUCTION OF BUILDINGS
• Every person, who intends to carry out building works shall comply with the provisions of these Zoning Regulations along with the relevant provisions of the Building Regulations (Building Regulations 1963).
• No building or structure shall be constructed or any addition/alteration made thereon except: With the prior approval of the Authority, and Minor internal repairs; in accordance with the Building & Zoning.
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DEFENCE HOUSING AUTHORITY (DHA)
ROLE OF DEFENCE HOUSING AUTHORITY IN REAL ESTATE AND INFRASTRUCTURE DEVELOPMENT:
1. Cognizant of fixed land bank with no expansion possibility in present location of DHA, it undertook a change to modern vertical development in its prime locations (Creek City) instead of horizontal sprawl.
2. Prime Waterfront available to DHA was divided into sectors for value addition to seafront using best expertise available in Pakistan.
3. Waterfront developments incorporate recreational, commercial and residential usages in accordance with site conditions.
4. Infrastructural and services needs both, short and long term were given due attention. DHA Cogeneration Plant due for commissioning in year 2007 will produce 94 MW of electricity and 3 MGD of desalinated water. Similarly improved trafficability will be ensured through massive up gradation of existing system.
5. A DHA regulatory and facilitative frame work with stringent, guarantees and assurance of commitment, qualitative control and time centric project completion is enforced.
6. Private sectors involvement was elicited and solicited by transparent measures, investor friendly frame work and expeditious decision making processes.
7. Up gradation of existing sectors with degraded services is in hand which will avoid disequilibrium between new and old sectors thereby retaining market values of DHA real estate.
8. DHA system and procedures for allocation, property transfers is a major reason for high credibility and high cost of DHA real estate.
9. Value addition of land instead of selling land parcels is the nucleus of reconsidered DHA development frame work.
DHA through a well planned and transparent implementation regime of above strategy, can claim that it is the harbinger of establishing a development paradigm that has become a model for development else where. More specifically up North in the country. Both DHA Lahore and Islamabad have realigned their developments and have sought private investors and despite available land banks found efficacy in vertical and multifaceted developments.
INVESTMENT OPPORTUNITIES AVAILABLE WITH DEFENCE HOUSING AUTHORITY:
Properties available for investment

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