LDA invites applications for allotment of 2,000 Naya Pakistan Apartments

Lahore: The Lahore Development Authority (LDA) has invited applications for the allotment of 2,000 LDA City Naya Pakistan Apartments, each spanning over 650 square feet, from March 24, according to a post published on the authority’s official Facebook on Sunday.

Read: LDA City Naya Pakistan Apartments approved by EPA

Who can apply for LDA City Naya Pakistan Apartments?

The civic agency has notified the eligibility criteria for its LDA City Naya Pakistan Apartments project. For availing the said scheme, applicants must:

• Be employees of either the Punjab government, LDA, WASA, or TEPA
• Have a take-home salary of PKR 50,000

How to Apply for Naya Pakistan Apartments in LDA City?

The application forms are available at the official website of the Bank of Punjab (BOP). Applicants are required to fill in and submit the forms along with a processing fee of PKR 5,000 at any branch of the bank till April 18.

The apartments will be allotted through a computerized ballot and the winner will get a letter of comfort from the Bank of Punjab or designated bank. Each apartment unit will cost about PKR 2.7 million. Moreover, the eligible applicants can also file a separate application for getting a PKR 300,000 subsidy from the Naya Pakistan Housing & Development Authority (NAPHDA).

Read: New residential projects to be modeled after LDA City Naya Pakistan Apartments

Applicants who succeed in getting the subsidy will only have to pay a 10% down payment and the remaining applicants who are issued a letter of comfort will be paying 21% down payments. The remaining payment will be payable in monthly instalments after getting possession of the apartments.

The LDA City Naya Pakistan Apartments will feature 35,000 apartments, of which 4,000 units will be constructed in the first phase. The project is a joint venture between LDA and NAPHDA.