CDA Drafts New Rules and Regulations for Housing Societies
In a move to improve the governance and management of housing societies, the Capital Development Authority (CDA) has recently drafted new rules and regulations. These measures aim to address various challenges faced by housing societies and promote transparency, accountability, and better living standards for residents. The new regulations are expected to have a significant impact on the real estate sector, ensuring a more organized and regulated environment for both developers and customers.
In the latest news, CDA has drafted a new set of rules that have been suggested to the government for better handling of housing projects. According to the officials, these are new and tough guidelines that societies will have to follow once implemented. The new rules are not yet made public by the civic agency, but different sources suggest that they have been approved by CDA Board in April 2023.
Following are the new rules as provided by the CDA officials, they are likely to be implemented in the future:
- Firstly, any housing society developing on the premises of the federal capital will be obliged to apply for the No Objection Certificate (NOC) before granting the possessions and handing plots over to the customers.
- The allotment will be considered legal, if and only if the plots are authorized according to the approved layout plan of the society.
- For the allotment letters to be accepted, they should be signed by the director of the respective housing project. Allotment letters (original, provisional, or transfer) should be properly signed and stamped for approval from CDA.
- Furthermore, a marketing charge of PKR 3500 is also suggested to the CDA Board under the legal criteria for projects.
The introduction of new rules and regulations by the CDA signifies a crucial step toward improving the governance and management of housing societies in the region. These measures address the long-standing issues faced by residents, developers, and members.
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