LDA notifies hike in property transfer rate

Lahore: The Lahore Development Authority (LDA) has formally notified hikes in a property transfer fee, no-objection certification (NOC) issuance, and map approval, news sources reported on October 29. 

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The new fees will now be calculated at 1% per marla of the DC value instead of the previously fixed fee of PKR 7,000 per marla. Under the new plan, LDA will collect updated and increased fees for issuing NOCs, map certifications, and fines on building rules and unlawful construction violations. Furthermore, the LDA Act 1975 (as amended by Act XXVI of 2013) has undergone the following revisions:

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• The land transfer fee in the new LDA City Housing project has been increased to PKR 10,000 per marla from PKR 7,000 per marla + PKR 5 per sq ft on the completed property
• The legal heir’s transfer cost, which was previously free, has been set at 25% of the appropriate transfer fees in all schemes
• The placement of document cost is now set at 0.25% of the DC value of the property, up from PKR 500 per marla previously

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• The copying charge is now PKR 1,000 per page
• The mortgage cost, which was formerly PKR 500 per marla + PKR 5 per sq ft on built space, would now be 0.25 % of the DC value of the property
• No objection certificate (NOC) would now be 0.25% of the DC value of the property per annum 
• The price of general power attorney publication has been hiked from PKR 1,000 per marla to PKR 2,000 per marla
• Possession and file checking costs have been increased to 0.25% of the DC value of the property and PKR 10,000, respectively