Lahore: The Lahore Development Authority (LDA) on Tuesday revealed that it has sought the Punjab Cabinet’s approval regarding the mechanism proposed for the allotment of 4,000 apartments being developed under the Naya Pakistan Housing Programme (NPHP) project in LDA City.
LDA Vice Chairman SM Imran expressed his views on the matter during a meeting of the LDA governing body. The participants also expressed their intent to forward a summary pertaining to the prices of NPHP units, their eligibility criteria and terms and conditions regarding allotment to Punjab Chief Minister (CM) Usman Buzdar.
Moreover, they provided their approval to the draft of an agreement finalized between LDA and the Bank of Punjab. The said undertaking pertains to the issuance of a letter to prospective allottees and the provision of home loans among others.
The civic agency plans to construct 4,000 apartments in 650 square feet measurements. According to the details revealed, these two-bedroom units will be housed inside a total of 125 four-storey blocks (each block consisting of 32 apartments) on 563 kanals of land. The project is expected to cost PKR 10 billion.
