Faisalabad: Faisalabad Development Authority (FDA) has increased its approval fee for commercial and residential projects as well as penalty charges on violation of building regulations, reported a news source. The news rates will be applicable after two months.
The rates on penalty charges by FDA were last updated in 1997 while the tariff for approvals was imposed in 2008. It was observed that due to low penalty charges, violation of building bylaws didn’t bother real estate developers and the practice continued.
According to the revised tariff applicable from March 2019 onwards, the scrutiny fee for residential units will be increased from PKR 2 per square feet to PKR 5 and the completion processing fee will jump from PKR 500 per marla to PKR 5,000. The price for the issuance of clearance report will be PKR 500 per marla, and that for ownership fee will be PKR 500 per marla.
For commercial buildings, the scrutiny fee will be charged at PKR 10 per square feet, completion fee at PKR 10,000 per marla, and possession charges at PKR 1,000 per marla.
The violators of building bylaws in residential units will be imposed with a fine of PKR 150 per square feet, which previously was PKR 50 per square feet. Those found engaged in illegal construction of residential units will be paying PKR 250 per square feet instead of PKR 80.
On violation of building regulations in commercial units, the developer will be penalised at PKR 200 per square feet, while those found involved in illegal construction activities will be paying PKR 300 per square foot instead of PKR 80 per foot as notified in the old tariff.
Samra Zulfiqar, a real estate analyst at Zameen.com, is passionate about finding projects that offer buyers the best returns. Her keen insights spotlight the market’s most promising opportunities.
