The application forms for the new housing projects in Karachi are now being provided at the banks for a cost of Rs.5,000.
Dr Badar Jamil Mandhro—the Director-General of the Karachi Development Authority told local media about the launch of these 4 new schemes back in the month of September. He said that the KDA would be making the formal announcement in the first week of December.
One could take part in the balloting of the residential plots by getting a form from the bank of Rs.5,000. This amount is non-refundable. The form then has to be submitted to the same branch of the bank with a 25percent payment of the total cost of the apartment one selects. A copy of the Computerized National Identity Card has to be attached as well.
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As per the DG of the development authority, there is the plan of balloting 5,000 apartments.
The balloting process would be monitored by the officials of the National Accountability Bureau, and the Anti-Corruption Establishment Transparency International.
Dr Mandhro gave confirmation that the authority would be launching the affordable housing schemes in Federal B Area Block 1, behind Lal Qila in KDA Scheme 1, Surjani Town and Korangi Town.
He said that all the initial formalities have been done for the launch of the schemes in Karachi after at least 30 years. He further added that consultants have been hired to execute the project. The architectural work, designing and mapping of the project would begin from next month.
These would be the first housing projects introduced by KDA in the past 30 years. The last one was the 1999 housing project that was launched near the 5-star Chowrangi in North Nazimabad.
There would both be flats and plots in the housing schemes measuring 80, 120, 200 and 240 square yards.
The authority DG informed that there are 2,4 and 5 room flats on easy monthly instalments.
The construction work would be completed in 2 years. The minimal cost of an apartment would begin from Rs.1,200,000 and the allottees would be paying their instalment over the span of 5 years while residing in the apartment.