Lahore: According to press reports, the Director-General of the Lahore Development Authority (LDA), Mr. Ahmad Aziz Tarar, has approved the auctioning of commercial properties in LDA city.
Due to a financial shortage, the civic authority has decided to auction commercial property in LDA City to support development projects that have stopped in residential blocks. The commercial property’s price per marla is set at PKR 3.1 million. The successful bidders will be given a two-year grace period to pay for the commercial property.
Read More: Building, zoning rules to be amended by LDA
Another recent development is that the Director-General (Urban Planning), Rana Tikka Khan, has approved the LDA city’s electrical supply, with electrification work in the residential project set to begin soon. In addition, the Parks and Horticulture Authority (PHA) will begin work on the LDA city’s green belts, which will take two years to complete.