Lahore: The Lahore Development Authority (LDA) has decided to increase charges with regard to the commercialisation and approval of building plans – a news source reported.
This increase comes in line with the revised rates of immovable property in Lahore. The Federal Board of Revenue (FBR) previously made notification of upward revisions in the valuation rates of immovable property nationwide.
LDA has directed its challan counters to issue updated challans reflecting the hike. The civic agency charges 20% of the DC rate as its overall commercialisation fee. Similarly, it charges 1.25% of the DC rate as an annual commercialisation fee.
Following FBR’s revaluation drive, the prices of residential properties in Lahore have witnessed a surge of up to PKR 200,000 per marla. Similarly, the rates of commercial properties have gone up by PKR 800,000 per marla.
