To significantly strengthen the governance and management of housing projects, the Capital Development Authority (CDA) has suggested new rules and regulations for housing societies.
The initiatives aim to address a variety of issues that affect residents, developers, and other elements of society while also fostering openness, responsibility, and higher living standard Key points from the proposed regulations are as follows:
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1:NOC requirement before providing ownership and handing over plots to customers any housing society proposing to construct within the federal capital will be obliged to get a no objection certificate NOC .
This policy seeks to guarantee that societies adhere to particular standards and requirements established by the CDA before moving further with their development strategies. 2 legitimate allotment a plots allocation within a housing society will only be regarded as legitimate.
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If the plots follow the societies authorized floor design this regulation prevents unauthorized and erroneous plot allocation giving buyers and investors some security that their real estate is legitimate
2. Appropriately Signed Allotment Letters: The director of the relevant housing project must properly sign and stamp all allotment letters, whether they are original, provisional, or transfer letters, and the CDA must also authorise them. This makes sure that the allocation procedure is accurately recorded and confirmed by the appropriate authorities.
3. Marketing Fee: In accordance with the requirements set forth by law for housing developments, the CDA Board is advised to introduce a marketing fee of PKR 3500. Developers and housing societies may be required to pay this fee to offset marketing costs or other project-related administrative fees.
These proposed rules would go a long way towards establishing a better-organized and controlled environment for the real estate industry in the nation’s capital. Upon implementation, Once put into effect, they should encourage improved methods for creating and running housing societies, giving both residents and investors more security and assurance. It is crucial to monitor the official announcements made by the CDA for any revisions or modifications to the proposed regulations, nevertheless, as the new regulations have not yet been made available to the general public.
Research and Written by:
Sanah Abbasi
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