Grand Hyatt Tower: CDA urges court to withdraw apartments’ regularization order
ISLAMABAD: The Capital Development Authority (CDA) on Friday filed a review appeal in the Supreme Court urging the apex court to review its order for regularisation of apartments in the Grand Hyatt, ARY News reported.
According to the petition, the apartments constructed on the plot orignally bought for construction of a hotel couldn’t be regularized.
BNP Pvt Ltd was allotted a plot for a hotel in 2004; however, it built Grand Hyatt Tower residential apartments, which were sold to different buyers, which included high-profile figures.
The plea said BNP Pvt Ltd didn’t even take part in the bidding process. “The company fleeced people and minted their money,” the petition added.
It said there was a vast difference in price of the hotel and residential apartments.
The application requested the court to withdraw its order for regularization of the apartments.
The Supreme Court had ordered to regularize the apartments with a fine of Rs 15 billion.
In July 2016, the Islamabad High Court had upheld the cancellation of the lease of the plot granted by the CDA meant for Grand Hyatt Hotel over violations of building laws.
The apex court, however, reversed the IHC’s order about Grand Hyatt lease case, directing the builder to pay Rs 17.5 bn to CDA in eight years on equal annual instalments.
By declaring the IHC verdict null and void, the court ordered the company to submit a bank guarantee of every instalment.