The value of commercial property of F-8 Markaz has extremely fallen due to illegal occupation by lawyers.
“In order to give relief to the landlords and residents of the locality, courts should be shifted from the centre of the posh residential sector,” said Yasser Sakhi Butt, president, Islamabad Chamber of Commerce and Industry (ICCI).
H made these remarks during a meeting with the landlords of F-8 Markaz at Jinnah Convention Centre on Monday.
The ICCI president was of the view that the lease renewals rates of plazas in F-8 Markaz were at par with F-6 and F-7 Markaz, which was not fair.
Landlords had are suffering for the last more than 20 years, he said. He underlined the need to review the rates being offered to the landlords of F-8 Markaz.
He was of the view that traffic nuisance, waste mismanagement and chocked sewerage had become hallmark of the area as well as the entire residential community had been put on high security risk.
Moreover, customers were not able
to approach the market because of steel wires surrounding the court premises.
Sakhi Butt demanded shifting of the courts from F-8 Markaz. He also called upon the government to compensate the landlords of F-8 Markaz and avoid levying taxes even on vacant properties.
ICCI for raising lease rates for F-8 Markaz
