CDA approves allotment of 560-kanal land for construction of new commercial, residential hub
Capital Development Authority (CDA) has accorded approval to allotment of 560 kanals of land for construction of new commercial cum residential hub in Gandhara Triangle.
The land will be allotted to Pakistan Avenue Development Company (PADC), a subsidiary to CDA which will sell out these plots to general public and commercial institutions in this hub. The said firm will purchase land at the rate of Rs 800,000 per kanal and it will be binding on it to pay Rs 440 million to CDA within three months of purchasing of the land.
Sources said that PADC will undertake such commercial activities which will be funded by the federal government. This company is planning to launch a residential and commercial hub project on the belt adjacent to new sectors C-15 and C-16. The said area is located in zone-1 wherein approval has already been given to hundreds of residential schemes.