ISLAMABAD, July 6: The Capital Development Authority (CDA) has decided to revise lease rates of its commercial units in Islamabad by over 20 per cent, a senior official of the authority told Dawn on Saturday.

The official said the first 33-year lease of most of the commercial centres and plots had ended and now the people concerned had asked the CDA to extend their lease for further 33 years.

Keeping in view of the demand of the people, the CDA had formed a five-member committee headed by member planning to settle the issue. Other members of the committee are: Member administration, director-general environment, director estate management-II and consultant law.

The committee will prepare its report about Class-I and II commercial centres established in sub-sectors, I&T centres and agro plots. Later, the report will be approved by the CDA Board.

However, it has been decided that lease of these commercial units would be extended on revised rates.

The official said in some cases the lease rate could be increased by 50 per cent. “But, before the lease agreements’ extension, the lessees have to remove all sort of encroachments and constructions which are contrary to the building laws of the CDA.

Meanwhile, the CDA also fixed Rs20 per sq yard for the change of business in commercial and industrial sector in Humak.

The official said some of the industrialists had demanded of the authority to allow them to change their trade. The matter remained pending with the CDA for a long time and now the authority had agreed to meet the demand but the owners of industry would pay at the rate of Rs20 per sq yard of total area of the industrial units.