The Capital Development Authority (CDA) has increased its fee structure amid a sharp rise in property prices across Islamabad, reported 24NewsHD TV channel on Thursday.
According to the details, the authority announced new rates for the Floor Area Ratio (FAR), requiring property owners and developers to pay additional fees for each extra floor constructed in residential or commercial buildings.
Under the revised system, the higher the number of storeys, the greater the amount to be paid into the CDA’s treasury.
The authority has also removed the previous limits on the number of floors allowed for buildings in various sectors.
Officials said the FAR rates have been revised for the first time since 2017, based on the General Price Index (GPI).
In the new schedule, the FAR rate for the Blue Area has been fixed at Rs 4,951 per square foot.
The highest rates have been set for the commercial centres of F-7 and F-11, where the FAR charges are now Rs 8,758 and Rs 8,100 per square foot, respectively.
The rate for G-5 Diplomatic Enclave and G-6 has been set at Rs 2,110, while for residential zones in G-7 and G-8, the rates are Rs 2,305 and Rs 2,585 per square foot, respectively.
In I-8, the rate has been revised to Rs 4,100, while in I-12, it is Rs 1,616. For class three shopping centres in the E and F series sectors, the new FAR rate stands at Rs 11,586.
For other property categories, the rates are Rs 1,899 for the Sabzi Mandi area, Rs 4,722 for cold storage sites, Rs 3,296 for hospitals, Rs 2,054 for hotel plots, Rs 1,283 for institutional plots, and Rs 4,269 for flat sites.
Reporter: Tayyab Saif