ProPropertyNewsRDA Leases Out Parking Plaza to Increase Annual Revenue

RDA Leases Out Parking Plaza to Increase Annual Revenue

The Rawalpindi Development Authority (RDA) has decided to lease out a parking plaza at Fawara Chowk in Raja Bazar for three years.

As per the details, the authority has planned to lease the plaza for PKR 38 billion in order to increase the annual revenue.

It added that the bikes, vehicles, and rickshaw owners would be charged hourly, monthly, and yearly so that enough revenue could be generated.

The decided parking fees for the different vehicles are as follows.

  • The fee for bikes has been decided to be 30 rupees, if it is parked for 1 month, then the amount will raise to 700 rupees.
  • The parking fee for cars, taxis, and rickshaws has been fixed at 50 rupees per hour and 4,000 rupees if parked for 1 month.
  • For large vehicles, the amount will be 250, and the longer the parking duration the bigger the amount.
  • The parking fee for trucks and tankers can be increased up to 6,500 rupees depending upon the parking duration.

Additionally, the contract amount will raise by 10 percent every year and will start from 1st January 2023 till 31st December 2025.

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