Post Reply 
 
Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
ISLAMABAD: Rise in building material price: D-12 development stalls
06-18-2008, 02:00 PM
Post: #1
ISLAMABAD: Rise in building material price: D-12 development stalls
[/align]

* Contractor demands increase in project budget

By Fazal Sher

ISLAMABAD: Capital Development Authority (CDA) is unlikely to give possession of plots to the owners in D-12 Sector, as the contractor has stopped work owing to a steep rise in the prices of construction material.

“The contractor has completed only 60 percent of development work and a halt to the project would make it impossible for the authority to give the possession of plots to the owners by June 30,” a senior official of CDA confided to Daily Times on Tuesday.

The official said that the contractor was demanding an increase in the project cost due to high prices of building material including steel and cement. He said Kamran Lashari, the CDA chairman, had recently said that the owners of plots would get possessions by June 30. “But the current situation shows that the plots’ handover would be impossible by June 30,” he added.

D-12 Sector was launched in 2002 but the authority failed to starts development work till 2005. The sector spans 612 acres, out of which 260 acres has been reserved for 2,595 residential plots.

The official said that besides halt to development work in D-12, development work in I-14, I-15, I-16 and E-12 sectors was also hanging in the balance due to inefficiency of the authority’s relevant directorate. Though the authority has completed development work in G-13, it’s yet to connect it with gas, water and electricity mains.

The CDA officials said that suspension of development work in D-12 would exacerbate the problem of shortage of residential units in the capital. Owing to the housing problem, he said, people with monthly incomes of around Rs 10,000 to Rs 20,000 were finding it difficult to get a modest accommodation in the capital. The CDA needs to develop the already launched sectors before launching new sectors, he suggested.

Sector Development Director Hafiz Ehsan said that the authority had decided to increase the project cost and the contractor would complete the entire development work in December. He said the CDA board had decided in its last meeting to give relief to the contractor on purchase of three items: steel, cement and bitumen.


http://www.dailytimes.com.pk/default.asp...008_pg11_1
Find all posts by this user
Quote this message in a reply
Post Reply 


Possibly Related Threads...
Thread: Author Replies: Views: Last Post
  Illegal settlements on the rise in forest areas of Islamabad Salman 0 827 03-18-2014 01:44 PM
Last Post: Salman
  Property prices rise by 33.1pc in 2013 CMY 0 2,031 12-28-2013 08:48 AM
Last Post: CMY
  ISLAMABAD / LAHORE / KARACHI : Rise and fall in property prices Salman 0 3,878 11-25-2013 01:35 PM
Last Post: Salman
  CDA demolishes 350 illegal stalls at Mandi Morr Salman 0 2,787 07-19-2013 12:14 PM
Last Post: Salman
  Commercial use of residential units on the rise Salman 0 1,513 02-15-2013 12:52 PM
Last Post: Salman
  Illegal constructions on the rise in Rawalpindi Salman 0 1,212 07-25-2012 01:51 PM
Last Post: Salman
  Park Enclave Islamabad No Development Salman 0 2,645 07-12-2012 12:20 PM
Last Post: Salman
  Controversy brings land price down Salman 0 784 06-13-2012 05:00 PM
Last Post: Salman
  High-rise owners told to submit building details Salman 0 1,168 04-09-2012 05:55 PM
Last Post: Salman
  Chandni Chowk Flyover RTMA yet to get land price Salman 0 1,371 03-22-2012 07:20 PM
Last Post: Salman
  Encroachments on the rise in capital Salman 0 828 03-15-2012 01:11 PM
Last Post: Salman
  1000MW Iran electricity to Pak plan hits price snag Salman 0 1,198 02-01-2012 01:25 PM
Last Post: Salman
  Walled city under threat as restoration project stalls Lahore_Real_Estate 0 1,258 01-23-2012 03:40 PM
Last Post: Lahore_Real_Estate
  Residential plots auction fails to fetch good price Salman 0 1,629 01-11-2012 11:54 AM
Last Post: Salman
  Islamabad Development News :Work to start soon on Burhan-Mansehra Expressway Salman 0 1,549 12-17-2011 06:24 PM
Last Post: Salman
  Islamabad News :CDA eradicat illegal stalls from G-10 Markaz Salman 0 891 12-16-2011 03:30 PM
Last Post: Salman
  Domestic demand on rise despite upward price pressure Salman 0 1,080 12-15-2011 11:40 AM
Last Post: Salman
  ISLAMABAD: FGEHF seeks Rangers help to initiate development in G-14 Lahore_Real_Estate 0 1,661 12-03-2011 12:04 PM
Last Post: Lahore_Real_Estate
  Petrol price jacked up by Rs 4.15 Lahore_Real_Estate 0 822 10-01-2011 02:37 PM
Last Post: Lahore_Real_Estate
  Illegal commercial use of PHA flats on rise Lahore_Real_Estate 0 1,285 08-17-2011 01:02 PM
Last Post: Lahore_Real_Estate

Forum Jump:


User(s) browsing this thread: 1 Guest(s)