Balloting to allot plots in Park Enclave III on September 24.
ISLAMABAD: Apex Civic Authority of the Federal Capital has said that it received around 500 applications more than the number of plots available for sale in their latest housing project that is Park Enclave- III.
A lucky draw will be carried out to ensure the just distribution of plots. Management of CDA stated that they witnessed an overwhelming response to the Park Enclave Project from the public in the shortest duration of a month.
1600 application is received for 1061 plots. Besides purchasing brochures of the project applicants have also deposited advance fees with their plot applications. To make sure that all the applicants are provided an equal chance of purchasing plots, ballots will be carried out for the allotment of the plots among applicants.
The balloting has been tentatively scheduled to take place on September 24 at the Jinnah Convention Centre.
It is estimated that development work will start in the continuing year while the auction for its commercial plots will be held once the project is complete.
CDA hopes to make Rs14 billion in revenues from the new housing project.
BALLOTING OF RESIDENTIAL PLOTS IN PARK ENCLAVE PHASE-III, CDA
S.No.Size of PlotPrice (Excluding Taxes)10% Down Payment1.50×90 = 500 Sq. Yds.Rs. 27,800,000/-Rs. 2,780,000/-2.40×80 = 355 Sq. Yds.Rs. 198,000,000/-Rs. 1,980,000/-3.35×70 = 272 Sq. Yds.Rs. 15,100,000/-Rs. 1,510,000/-4.25×50 = 139 Sq. Yds.Rs. 7,700,000/-Rs. 770,000/-