Lahore: The Lahore Development Authority (LDA) has decided to dedicate PKR 2 billion for LDA City apartments – considered a major project under its budget allocation for the city, a news source reported earlier today (July 10).
The matter was deliberated in a meeting held to discuss the LDA Budget 2020-21. As per the initial estimate, the project is expected to cost PKR 35 billion. The project is going to be located on 2,000 kanals of land near Mauza Halloki where 10,000 apartments will be constructed.
Through the FY 2020-21 budget of PKR 2 billion, the initial infrastructure of the apartments will be developed. Additional funds will be collected through LDA allottees in form of payments for the apartments.
Furthermore, the authority has estimated a collection of nearly PKR 10 billion under down payments and first instalments – which will in turn be used to further the project’s construction.
