LDA City Naya Pakistan Apartments’ Price & Payment Plan

Lahore: The Lahore Development Authority (LDA) has started receiving applications for its low-cost LDA City Naya Pakistan Apartments, launched under Prime Minister Imran Khan’s Naya Pakistan Housing Programme (NPHP), according to a publication. As per the LDA advertisement shared via its official Facebook page and national dailies on March 21, the application process began on March 24 and will last till April 8.

Considering the fact that the country faces a dearth of affordable housing and there are over one million homeless people across Pakistan, the project has received an overwhelming response. Zameen.com has covered all related developments in this regard just to ensure that whoever needs this information gets all the details on time in order to benefit from prime minister’s flagship initiative targeting the underprivileged segments of the society.

Read: LDA City Apartments’ allottees to pay instalments after possession

In response to this coverage we have received several queries and via this post, we are trying to address these queries one by one.

Where to get information on LDA City Naya Pakistan Apartments

On April 2, LDA shared a post on its Facebook page as well as advertisements in national dailies to aid the applicants seeking answers to certain questions on submitting their applications for LDA City Naya Pakistan Apartments. As per the information, the authority has facilitators present at the Sahulat Marakiz set up at LDA Headquarters in Johar Town to guide the applicants.

In order to get complete guidance on submitting an application online, the applicants can visit these marakiz along with their original CNIC, pay slip and one passport size picture.

In addition to that, a special helpline has been established by the Bank of Punjab to address queries regarding LDA City Naya Pakistan Apartments. Applicants can call at the given number to get the needed information: +92-42-3586-2377 and +92-42-111-267-200.

Price & Payment Plan of LDA City Naya Pakistan Apartments

As per the information shared through the LDA advert, the size of the units on offer is 650 sqft and they will feature two bedrooms, one attached and one detached bathroom, a kitchen, a small living area and a balcony.

Here is what we know about the price and payment plan of these units:

·         The total price of a 650 sqft apartment is PKR 27 lakh

·         Its booking amount is 10% of the total price i.e. PKR 270,000

·         The remaining amount has to be paid in instalments

·         The successful applicants will have to pay the instalments after moving into their apartments

·         The federal government (through the Naya Pakistan Housing & Development Authority) will offer a subsidy of up to PKR 300,000 to the deserving applicants

·         Banks will provide home loans at soft terms and conditions

Since Zameen.com has been covering all the related developments on the LDA City project, we are reminded of Punjab Chief Minister Sardar Usman Buzdar’s Twitter post regarding the price and payment plan for the aforementioned units. According to his December 2020 tweet, the monthly instalment of an LDA City Naya Pakistan Apartment will start from PKR 16,000.

Later in March, LDA Vice Chairman SM Imran said that the down payment for an LDA City Naya Pakistan Apartment unit would be PKR 570,000, out of which the government would be offering a subsidy of PKR 300,000 per unit. On the occasion, the Vice Chairman made no mention of the offer only being applicable for ‘deserving applicants’.

The LDA VC did mention that the allottees would not be required to pay any instalments for the first 18 months. Instead, people would only have to start paying the instalments once they had moved into their homes. This also implied that the authority plans on completing the construction and handing over possession of these units in 18 months after the launch of development work at the project site. 

How to apply for LDA City Naya Pakistan Apartments?

The application process is as follows:

• Visit the official website of the Bank of Punjab: https://www.bop.com.pk/LDA/OnlineApplication.aspx

• Fill out the details requested in the online portal and get a print

• The applicant will then sign the printed form and submit it at the nearest branch of the Bank of Punjab (BoP) with PKR 500 processing fee

• The apartments will be allocated through computerised balloting and the winning applicants shall receive a letter of comfort from BoP or any designated bank

LDA City Naya Pakistan Apartments Booking Form

To familiarize you with the personal and occupational details requested by the LDA City Naya Pakistan Apartments form, we have gathered a list of particulars the applicants need to provide:

Personal Info

• Name as per CNIC
• CNIC number
• Father/husband’s name
• Gender
• Date of birth
• Marital status
• Residential status
• Whether the applicant is first time home owner

Contact Info

• Address (both permanent and current)
• City, district & province (both permanent and current)
• Mobile, residential and work contact number

Qualification Info

• Education

Employment Info

• Employer info
• Employment status
• Gross & Net Salary
• Profession
• Department Name
• Grade/BPS
• Relevant Experience
• Superannuation Date
• Employer Address
• Employer City/District/Province

Attachments Required

• Picture
• Attested copy of CNIC (front and back)
• Salary slip (less than two months old)

Also, the bank asks you to disclose your political exposure and any blood relation with BoP employees.

Declarations

(Copied as publicised)

1. I do hereby solemnly and sincerely declare that the information provided in the form and its enclosure is true and correct to the best of my knowledge and nothing has been concealed, and I fully authorize bank of Punjab (BOP)/LDA to verify the authenticity of any information or all of the documents submitted by me according to their official requirements. In case of any forgery and/or concealment of any fact/ document is found, the same shall lead to the initiation of legal proceedings as per law & Bank/LDA policy and rules.
2. I do hereby solemnly and sincerely declare that I am not employed by any Bank of Pakistan.
3. I do hereby solemnly and sincerely declare that I do not own, nor have I previously owned residential property in the form of housing unit / apartment / flat or any other type. I also hereby testify and confirm that for the duration of the financing facility period, my family and I will be residing at the property for which the finance has been availed.
4. I abide by all directions of the LDA with respect to this application and all subsequent matters;
5. My net monthly salary does not exceed fifty thousand rupees;
6. I am permanent resident of the Punjab Province;
7. I shall obtain letter of comfort from a bank as per directions of the LDA if I succeed in the balloting for allotment of apartments;
8. I shall not shift my bank account from the bank which issues a letter of comfort in my favour without prior written permission of the bank; In case of any forgery and/or concealment of any fact/ document is found, the same shall lead to the initiation of legal proceedings as per law, policy and rules.
9. My retirement benefits including pension, provident fund, leave encashment shall be channelized through the bank account against which letter of comfort will be issued by the bank;
10. I have appended attested copies of my CNIC and the payslip/pay certificate.

Who can apply for LDA City Naya Pakistan Apartments?

While LDA has announced to construct a total of 35,000 low-cost apartments in its LDA City project, 4,000 of these will be constructed in the first phase. Out of these 4,000 units, the authority has invited applications for only 2,000 units and these are meant for certain public servants who are residents of Punjab; these include:

• Employees of federal government
• Employees of Punjab government
• Employees of LDA
• Employees of Water and Sanitation Authority
• Employees of Traffic Engineering and Transport Planning Agency

As per the application form available for downloads at https://www.bop.com.pk/LDA/OnlineApplication.aspx, the definition of the above mentioned employees is as follow:

Definition

(Copied as publicised)

Employees of Government of Pakistan: Federal Government’s employees including employees of the Government of Pakistan having permanent address of any district of the Punjab working in Divisions, Attached Departments, autonomous bodies, Special Institutions, Companies, local governments or any other federal entity and in receipt of net monthly salary not exceeding fifty thousand rupees.

Employees of Government of the Punjab: Employees of the Government of the Punjab include employees having permanent address of any district of the Punjab working in departments, attached departments, autonomous bodies, special institutions, companies, boards, local governments or under any other entity of the Government of the Punjab and in receipt of net monthly salary not exceeding fifty thousand rupees.

Employees of the LDA: Employees of the Lahore Development Authority include employees of the UD Wing of the LDA, Water and Sanitation Agency and the Traffic

Engineering & Planning Agency of the LDA in receipt of net monthly salary not exceeding fifty thousand rupees.

Any officer in BS. 17 and above or equivalent of any public sector organization can make attestation of documents.

Computerized pay slip issued by the Accountant General Pakistan Revenues, its Sub-Offices, Accountant General, Punjab, District Accounts Offices, officers responsible for salary disbursement in organizations which do not disburse salaries through the Accountant General Pakistan Revenues, its Sub-Offices, Accountant General, Punjab, District Accounts Offices are acceptable. Manual pay certificates shall also be acceptable if the organization does not have computerized pay roll.

Salary slab

In addition to being employees of the above mentioned departments and residents of Punjab, the applicants should have a monthly income of, after all the deductions marked under various heads, not more than PKR 50,000.

Read: Details of LDA City Naya Pakistan Apartment options, price revealed

Specifying the income bracket was important here as the applicants are required to be in a financial position to pay the monthly instalments.

We will be addressing more aspects of the project. If you have any other queries, let us know by leaving a comment below.