CDA reduces property transfer fee

ISLAMABAD: The Capital Development Authority (CDA) Board, chaired by Sohail Ashraf, on Thursday approved a reduction in property transfer fees and key initiatives aimed at improving urban development in the federal capital.

The decision was taken during the 3rd CDA Board meeting held at CDA Headquarters in Islamabad, attended by senior officials and stakeholders.

A major relief measure was announced as the board reduced the property transfer fee from 3 percent, a move expected to promote investment and stimulate growth in the real estate sector. Officials said the decision would directly benefit citizens involved in buying and selling properties.

Chairman CDA emphasised that instead of increasing property taxes, efforts should be made to broaden the tax base in the federal capital.

The board also approved the hiring of creative consultants, referred to as “City Curators,” to help transform Islamabad into a cultural and tourism hub. The initiative aims to enhance landscaping, beautification of parks and green belts, and improve the city’s overall appeal.

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Sohail Ashraf termed the move a milestone step towards developing Islamabad into a modern and vibrant city, adding that all procurement and legal requirements for hiring consultants had been fulfilled.

In addition, the board reviewed the outsourcing of solid waste management services. It decided to terminate the ongoing procurement process for Package I and II based on recommendations from relevant committees and to restart the process after examining successful models from other cities.

The chairman directed that a sustainable and efficient waste management system be introduced after adopting best practices, ensuring improved service delivery for residents of the capital.