Housing authority eases terms for upcoming auction

November 08, 2024 (MLN): The Executive Board of the Federal Government Employees Housing Authority (FGEHA), in its meeting held today, approved in principle the revised brochure and terms and conditions for the upcoming auction.

The revisions aim to be more investor-friendly, offering greater ease in possession, rebates, installment plans, and approvals for building plans and floor area ratios.

Federal Minister for Housing and Works Mian Riaz Hussain Pirzada also Chaired the 36th Executive Board Meeting.

The agenda of the meeting was included approval of brochure and revised terms and conditions for the upcoming open auction of 24 commercial plots of FGEHA located in sector G-13 and G-14 Islamabad on 13th and 14th November.

Moreover, auction of commercial plots and properties of various categories and sizes located in sector 24-B, 25-B, 19-C and Scheme 33 at Gulzar-e-Hijri, Karachi was thoroughly discussed.

Along with this, claim of remaining plots to be provided by CDA to FGEHA in sector I-8 and 10% under Islamabad Land Disposal Regulations was on the agenda.

The chair emphasised to mold terms and conditions in a way that would be more attractive for overseas Pakistanis and foreign investors.

To settle the claim of FGEHA plots with CDA, the chair advised to constitute a committee having members from major stakeholders i.e., FGEHA, CDA, Finance and Law division.

The step has been taken in line with the Prime Minister’s directions to settle long-standing disputes among federal government institutions/departments amicably by sitting together instead of wasting resources in unnecessary litigation.

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