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LDA lifts ban on commercialisation
04-02-2014, 01:08 PM
Post: #1
LDA lifts ban on commercialisation
LDA lifts ban on commercialisation

LAHORE : AS part of its business friendly commercialisation policy initiative, the Lahore Development Authority (LDA) has allowed commercialisation of properties, which was banned for the past many months.

Officials said under the new policy, the authority would commercialise properties for a period of next ten years and in order to facilitate the applicants, a special desk had also been established at the One-Window Cell, LDA office. Officials said a property seeking annual permission for commercialisation should not be situated on roads/re-classified zones already approved for permanent commercialisation.

No Objection Certificates from adjoining (left, right and rear side) neighbours, consenting to the commercial use of property, must be provided and the same are to be renewed before changing the nature of the commercial use of property, officials said. No structural changes shall be allowed in the buildings after the grant of temporary/annual commercialisation permission. It shall not be allowed for hazardous industries, chemical storages and usages involving sources of noise and pollution.

They maintained that the Annual Commercialisation Permission would be renewable on yearly basis. Commercialisation fee will be charged annually @ 1.25% of the commercial value of the property which would be payable in lump sum or in two equal installments. Application for annual commercialisation should be addressed to Director Commercialisation LDA along with a copy of the NIC and ownership documents. Application must also contain NOC from the adjoining neighbours and a statement mentioning intended commercial use of the premises. Application should also contain a pay order amounting Rs. 5000 towards processing fee of the application.

Meanwhile, the LDA has informed the general public that Broad Way Commercial, Khayaban-e-Ameen Housing Scheme, was neither approved by the LDA nor part of the approved layout plan of the said scheme. A press statement issued on Monday said people were warned to be careful in the sale and purchase of plots in Broad Way Commercial and should verify approval and legal status of a plot before making any agreement.

Another press release of the LDA said a total of nine plots including six commercial and three residential were auctioned against a sum of Rs. 90 million on Monday. The open auction of commercial plots of Johar Town and Jubilee Town and residential plots of Sabzazar was held at the LDA Community Centre, 239-A, New Muslim Town in which 32 bidders participated.

It said tough competition was observed on this occasion, as the competitors enthusiastically offered their bids. Per marla based price of these plots had been estimated by the approved Evaluators of the State Bank of Pakistan. Maximum bid was offered for commercial plot No 24, Block Civic Centre of Jubilee Town, measuring One Kanal, which was auctioned against a total amount of Rs.36.2 million. Its based price had been fixed as Rs. 1.8 million per marla where as it fetched a price of Rs.1.81 million per marla.

Members of the auction committee of the LDA, including Director Finance Zaheer Asghar Raana, Directors Estate Management Akbar Nakai, Usman Ghani, Nadeem Abbas Bhangu and Waseem Abbas, Director land Development-I Imran Raza Abbasi and other officers, supervised the auction proceedings.
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