Islamabad: According to the most recent information, the massive “10th Avenue” Project is experiencing delays because of a lack of funding and slow development. The project will once again miss the March 2024 completion date, which was the original target. 17% of the project’s work has, however, already been finished. Furthermore, 10th Avenue is a project that the Federal Government has funded and is being carried out by the Capital Development Authority (CDA).
According to the report, despite the Federal Government providing Rs. 1.3 billion in money in June to accelerate, development work on the project was almost completely stopped and only drains were built. It is important to note that the 10th Avenue project was started by the PTI administration. The government initially set aside more than Rs. 1 billion.
Only Rs. 400 million were set aside for the fiscal year 2023–2024 in the Public Sector Development Programme (PSDP). However, this is seen as being insufficient for a project of this size. According to a CDA engineer, after releasing Rs1.3 billion in June, the municipal organization settled the contractor’s outstanding debts.
According to the reports, the monsoon season plays a sizable role in the project’s delay and its inability to be completed could result in fee escalation. The person added, “The federal government needs to take this issue seriously. It is absurd to allocate Rs 400 in the PSDP for 2023–2024 for such a massive undertaking.
“The government should provide the necessary funds and patronage for the early completion of the project,” he continued, “for which approximately Rs. 2.5 billion have been received.” Additionally, the National Logistics Cell (NLC), which is in charge of construction, informed the CDA in February 2023 that it would withdraw from the project if the municipal organization failed to release the required funding. Later, the smooth flow of funding was guaranteed to the NLC.
Furthermore, the 10th Avenue project is comprised of 2 phases:
- Phase 1: Construction of a 5km road from Katarian Bridge on IJP Road to Srinagar Highway near the intersection of G-9 and G-10
- Phase 2: Extension from Srinagar Highway to Margalla Road
The project will also have an impact on the H-9 informal settlement of Rimsha Colony. Despite agreements made during the public hearing for the Environmental Impact Assessment (EIA) in 2022, a resolution to this issue remains unclear.
You can also invest in other famous and most in demand housing societies, such as , Blue World City, Rudn Enclave, 7 Wonders City Peshawar, Taj Residencia, Kingdom Valley, New Metro City Gujar Khan, Forest Town Rawalpindi, University Town Rawalpindi, ICHS Town, Park View City Islamabad, Multi Gardens B17 Islamabad and Nova City Islamabad.
Few more real estate housing schemes which are trending now a days in Islamabad by including: Faisal Town Phase 2, Prism Town Gujar Khan, New City Paradise, Eighteen Islamabad, 7 Wonders City Islamabad, Capital Smart City, Silver City Islamabad, The Life Residencia, Faisal Town Islamabad, Islamabad Golf City, Islamabad Model Town and Marble Arch Enclave.
Al Sadat Marketing is an emerging Real Estate Agency headquartered in Islamabad, Pakistan. With over 10+ Years of experience, Al Sadat Marketing is providing its services and dealing all trending housing societies projects in different cities of Pakistan. Islamabad Projects, Rawalpindi Projects, Gujar Khan Projects, Burhan Projects, and Peshawar Projects etc.
Book Your Plot Now: +92 331 111 0005