Lahore: According to press reports, the Lahore Development Authority (LDA) has urged the Punjab government to hike the cost of LDA City Apartments. The government, on the other hand, has created a committee to discuss the matter and weigh the various possibilities.
The LDA officials submitted the matter to Chief Minister Usman Buzdar, explaining that rising building material costs had increased the overall cost of the flats to Rs. 2.95 million. Previously, the flats were supplied at a discounted rate of Rs. 2.2 million to needy and low-income individuals.
In three days, CM Buzdar’s team will provide its findings. The newly formed committee will consider three options, including the government absorbing the extra financial burden and accepting the project’s revised PC-1, or the government subsidising LDA’s 4,000-unit construction. The third option is to pass the cost of the unit on to the buyer by charging the specified fee.
Secretary Housing, on the other hand, has requested an update from Chief Engineer LDA and members of the National Engineering Services Pakistan (NESPAK).