Finance and trade centre plot auction rescheduled - Pakistan Today

Finance and trade centre plot auction rescheduled

To facilitate potential buyers, the Lahore Development Authority (LDA) on Monday rescheduled open auction of plots earmarked for a five star hotel and super store at the Finance and Trade Centre, Johar Town Lahore for September 10.
The decision was taken in a LDA governing body meeting chaired by Lahore District Coordination Officer and LDA Chairman Ahad Cheema. The plots measured 114 kanals and 96 kanals respectively and their auction had earlier been planned for August 23. LDA named the purposed housing scheme at Ferozepur Road, measuring 45000 kanals, as LDA City.
The other new scheme of 10,000 kanals at Raiwind Road would be called LDA Avenue-II. Land for these schemes would be acquired on pattern of the Defence Housing Authority (DHA). In order to avoid litigation, land owners would be granted exemption of land in shape of 25 percent developed plots through negotiations. But land owners would have to pay development charges against the exempted plots.



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One Comment;

  1. SOHAIL SHAHZAD said:

    AAGA DOR PICHA CHORE. Have the earlier schemes namely Jublee Town, Mohalanwal schemes devloped by LDA (alomst nil colonizationafter more than 10 years). LDA Avenue-I is even worst from the planning, managment and execution point of.Launched on 07.01.2003 and after a period of more than eight years, more than 50% of the project area is still under litigation although on this area, Before launching new schemes, LDA should restore its credibility by resolving litagation issues and making public time bound action plan not exceeding six moths for provision of all services and handing over possession at least to the extent of cleared plots on the pattern of Shalimar Interchange and Qalma Chowk Fly Over and AAshiana Housing projects .

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