Lahore: According to news reports, the Punjab Board of Revenue issued a formal notification on Monday (October 25) of the rates set by the District Price Assessment Committee (DPAC) for the land acquisition of the city’s massive projects Sheranwala Flyover and Shahkam Flyover.
The tariffs have been changed for the acquisition of land, which has caused the construction of the two mega-projects to be delayed for some time, according to the latest notification. Commercial land from Bhubhatian to Canal Road is priced at PKR 4.5 million per marla, while residential land is priced at PKR 2.4 million per marla, according to the new notification.
The rate for commercial and residential land in the Mouza Jalliana on Canal Road is the same in the notification. For the Shahkam Flyover, a total of 62 kanals and 2 marlas of land will be acquired at a cost of PKR 569.65 million.
The commercial rate of Nolakha Mouza for the Sheranwala flyover is PKR 3 million per marla, whereas the residential charge is PKR 2.4 million per marla. For the Sheranwala Flyover, a total of 18 kanals and 1 marla of land would be purchased.
The revised rates were established as a result of landowners’ request to DPAC to examine previously calculated property rates. The Senior Member Board of Revenue, however, denied the price rise (SMBR).