LDA City Lahore, Investment Plan for The Plot Holders
LDA City Lahore is a public project and one of Punjab's biggest housing projects. The place is on Ferozepur Road, in the proximity of the renowned Lahore Ring Road, approximately 1.5 kilometers from the metro terminal station of the city. LDA City attracted a lot of attention–and investment–in the city due to its ideal place.
Now, there is great news for investors who purchased plot files after its launch in the project. The LDA City Lahore ballot will be held shortly.
BALLOTING FOR LDA CITY LAHORE HAS STARTED
The governing authority for the project is set to assign 9,000 file owners to ballot for LDA City Lahore in latest media reports. The event is scheduled for 21 December.
Around 11,000 kanal land was assigned for the allocation on the 13,000 kanal lands along the Butcher Khanna Distributary, near Ferozepur Road.
Development is currently in progress in an area of 6,200 kanal. Three contractors currently are working in two shifts to speed the process in order to fulfil the time-frame set by the Supreme Court. The plots would be given to owners of the respective file owners of the LDA City after the land is developed.
In addition, in all LDA City Projects, the LDA has also assigned 3 billion PKR to the development works.
The LDA City Lahore Phase 1 development work was split into seven packages and most of the work has been done in packages 2, 3 and 5. Package 2 of LDA City Lahore needs to be developed at around PKR 99 crore and 31 lakhs.
THERE IS GOOD NEWS FOR PLOT FILE HOLDERS OF LDA CITY LAHORE
There is another reason to celebrate the happiness for people who have eagerly awaited the allocation of plot numbers. The Lahore Development Authority has reportedly cut its development costs by almost 50%.
For example, the construction costs for a residential 1-Kanal plot file in LDA City Lahore were PKR 2.5 million initially. Due to recent amendments, however, plot file holders who bought 1 Kanal plot files from private developers will have to pay 1,25 million PKR. If you purchased a plot file from personal builders for a 1 Kanal housing plot, you will only have to pay PKR 1.25 million for development.
Same with 5 Marla and 10 Marla file owners. The construction costs charges by LDA City would be PKR 1.675 million for a 10 Marla plot. The cost, however, would be PKR 837,500 for those who purchased the 10 Marla plot file from private developers.
DEVELOPMENT WORK IS SCHEDULE WITHEN 7 STAGES
According to a news article, the construction work in the LDA City will be divided in 7 packages, according to the LDA Chief Engineer Mazhar Hussain Khan. Initially, the development work under Package 5 of the housing project was carried out. Experienced contractors for packages 2 and 3 have also been employed, and development work in these areas has started.
EAR MARKED LAND FOR MOSQUE AND CENTRAL PARK
The project's details were also shared by the LDA's director-General, Muhammad Usman Moazzam. He told us that the design layout includes a central park, which would be built on 330 Kanals. The main area is fixed only for a centre currently al mosque in the housing scheme. The mosque will be constructed on some 16 Kanal of area. For the visually impaired in LDA City, a world-class cricket stadium will be constructed. There are also plans to construct a graveyard and sports complex and for this purpose authorities have designated a place.
LDA has given the city file status, which you can use for verifying your documents on their official website, in order to guarantee transparency and to protect the property rights of all plot file owners. You will input the number of the file here.
CURRENTLLY AVAILABE PLOTS FOR INVESTMENT IN LDA CITY LAHORE
If you want to invest in LDA City Lahore, look at the prices of currently available plot files. The PKR 14.5 lakh 5 marla plot file is ready to sale on PKR 18 lakh. ⠀It's an opportunity for those who want to buy 10 marla plot file, they can get it within range of 22 lakh to PKR 30 lakh. You need to have a budget of PKR 36-38 lakh to purchase a 1 Kanal plot file in LDA City Lahore.