Everyday News

CDA Seizes Control of “One Constitution Avenue” Management

ISLAMABAD: The Capital Development Authority (CDA), on Wednesday,  took over the management of One Constitution Avenue after reviewing all the records. 

invest with imarat

Islamabad’s emerging city centre

Learn More

According to the details, the lease was terminated due to non-payment, as per the orders of the Supreme Court. In 2015, the lease had been cancelled previously, but the developer was given an opportunity to pay the outstanding amount. 

 

 

As per the Supreme Court’s ruling, it is important to note that One Constitution Avenue had a liability of Rs 17.50 billion. An annual instalment of Rs 2.916 billion was paid for the year 2021. However, the instalment of Rs 2.916 billion due for 2022 had not been paid to the CDA. 

The One Constitution Avenue management was repeatedly instructed through a series of letters to submit Rs 2.916 billion to the CDA by December 31, 2022. 

As per the orders of the Supreme Court of Pakistan and the Public Accounts Committee, CDA issued multiple notices and reminders to One Constituency to submit their bank guarantee, but no payment was made. This constitutes a violation of the Supreme Court’s orders dated January 9, 2019. 

Subsequently, on February 7, 2023, CDA issued a final notice terminating the lease of the land, since the terms and conditions of the lease were not upheld by One Constitution Avenue. 

In addition, the daily operations of One Constitution Avenue will be overseen by a committee consisting of members from the Resident Committee and the CDA Committee. This committee will comprise officials from the Enforcement Building Control and the State Department.

Laila Waqar

Laila Waqar is the Content Lead at Graana.com. With a bachelor's degree from LUMS, her expertise lies in curating research-based content in line with market marketing requirements. She is a detailed-oriented professional who focuses on delivering quality content that is enlightening and engaging.

Recent Posts

Baghbanpura Bazar: A Historic Market in Lahore

Lahore, known as Pakistan's cultural and historic heart, is home to numerous ancient sites, bustling…

1 hour ago

Garha Mor: A Notable Landmark in Vehari City

Garha Mor, a notable landmark in Vehari, Punjab, Pakistan, is significant in its location, accessibility,…

1 day ago

Aslam Market Wah Cantt: Pleasure of Shopping & Dinning

Located in the center of Wah Cantt, Aslam Market is a vibrant commercial hub that…

2 days ago

Abid Market Lahore: An Iconic Shopping Landmark

Located in the bustling heart of Lahore, Abid Market is a landmark shopping area well…

3 days ago

CDA Chairman Urges Rapid Completion of Major Islamabad Interchanges

ISLAMABAD, Nov 16 (APP): The Chairman of the Capital Development Authority (CDA), Muhammad Ali Randhawa,…

3 days ago

IMARAT Announces Launch of Pakistan’s Largest Sharia-Compliant REIT – A New Era of Real Estate Investment

Islamabad, Pakistan— IMARAT Group, a leading real estate developer and innovator in Pakistan, announces the…

3 days ago