- October 17, 2023
- Posted by: Muhammad Afzaal
- Category: RBS News
The Capital Development Authority (CDA) has announced a shift in its compensation strategy, opting to provide monetary compensation for acquired land instead of built-up property (BuP), as reported in a leading newspaper on October 14th.
According to the information provided, the decision to terminate allotting plots in exchange for cash compensation. It drives by previous controversies and delays in land acquisitions.
CDA Chairman Anwarul Haq affirmed this change in policy in an interview. He highlighted that the proposed approach will presented to the board for ultimate approval. He clarified that this new approach will implemented solely for future acquisitions.
Moreover, the development indicates that the civic agency intends to announce both land and built-up property (BuP) land awards simultaneously to enhance transparency and efficiency, thereby preventing any delays for land acquisitions.
Check out RBS for more updates.