Lahore: The Lahore Development Authority (LDA) has started purchasing land for construction of missing link roads between Engineer Town (Chaudhry Town) via Defence Road and Nespak Society, a notice in leading newspapers informed. The land will be acquired under the Land Acquisition Act-1894.
Read: LDA permits highrise development on newly commercialised roads
The authority has offered owners, whose land is part of the planned route, the opportunity to have their land commercialised without having to pay certain fee. According to the policy, if landowners transfer their property to the LDA for free, the authority would convert an equivalent area of land on the same proposed route into commercial land without charging commercialisation fee.
Furthermore, the LDA has stated the following provision in their plan:
If owners have land remaining after the transfer to LDA, the property can be transformed into commercial land by paying a fee equivalent to 25% of the applicable fee on land transferred.
Read: LDA allows commercial activities on 10 roads in city, reclassify another nine
The owners whose entire land is transferred to the LDA will be given commercialisation rights of an equivalent land.
Those owners whose remaining land is less than the transferred property will get their land converted into commercial land and will be given the requisite rights.
It was also highlighted that the commercialisation rights are transferrable.
The land will be acquired under the Land Acquisition Act 1984
The owners of the land may also get market equivalent price of their land from LDA.
Read: LDA auctions commercial, residential plots in different housing schemes
The notice announced that the landowners may approach the authority and submit their application to the Chief Engineer 1, Urban Development Authority Wing by April 30, 2022, along with documents proving their ownership of the land, registry and fard, and other related documents.
Related News
