ISLAMABAD – Capital Development Authority (CDA) board on Thursday reduced the rate of transfer fee on transfer of the properties located in the limits of CDA from 03 percent to 01 percent of the value of the property as notified by the FBR”. Chairman CDA and Chief Commissioner Islamabad, Sohail Ashraf chaired the meeting.
The decision to reduce the property transfer fee is expected to encourage investment in Islamabad and significantly improve the housing and real estate sectors.The fee reduction will provide direct financial relief to citizens involved in buying and selling property.
At this occasion, Chairman Sohail Ashraf stated that instead of increasing property taxes in the federal capital, the focus should be on widening the tax base.
The board also approved awarding a contract for a Creative Consultant (City Curator) to transform Islamabad into a cultural and tourism hub.
The meeting was informed that all procurement processes and legal requirements for hiring the consultant have been fulfilled.
Chairman Ashraf noted that this is a milestone for the city’s tourism sector, as these consultants will help enhance the landscaping of parks and green belts, making Islamabad a modern, attractive, and vibrant city.
The board further discussed outsourcing Solid Waste Management (Packages I and II) for the capital.
Following recommendations from the Grievance Redressal and Procurement Committees, it was decided to terminate the ongoing procurement process.
The board resolved to review successful models from other cities and restart the outsourcing process to ensure a more effective system.
“By examining the best models from other cities, we will adopt an immediate, sustainable, and effective waste management system for the capital,” said Chairman Sohail Ashraf.
