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CDA allegedly sold a plot worth Rs 4.8 Billion in Just 48 Crore. allegedly sold a plot worth Rs 4.8 Billion in Just 48 Crore.
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Islamabad: The Capital Development Authority is heard of showering undue favors at the management of Grand Hayat Hotel Islamabad which is being constructed near Convention Centre. High raised Grand Hayat Hotel and apartments are being built on a land which is allegedly purchased in Rs 48 Crore Only (possession was awarded at mere 10% payment) whereas the actual price of the said plot is Rs 4.8 Billion and no such policy exists on the part of CDA to give possession at this minimal payment. The Irony on the part of the CDA does not end here as it is further revealed that CDA has generously allowed the management to have the luxury to pay the agreed amount till the year 2026 under so called installment plan. On the hand it was told in the Public Accounts Committee of National Assembly that the hotel management is turning this opportunity into gold and so far it has bagged Rs 3 billion by selling/renting the apartments which are still under construction. PAC members have demanded the probe into the matter and asked CDA to give explanation. Sources have told that the hotel management has strong influence since a top bureaucrat appointed in PM house is at their back to take care of their interests. Though the land in the subject was sold when Kamran Lashari was the chairman of the CDA yet Grand Hayat hotel is somehow enjoying undue favors from CDA.

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  • Mishaim says :

    2016-05-27 01:03:02

    What can CDA do?when some high official at PM house asks it accommodate the management?

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