Lahore: The Lahore Development Authority (LDA) has amended its land-use regulations 2020, under which land conversion fee was waived for charitable organisations, according to news published on Monday (December 20).
As per the details, the LDA rejected the request of the Water and Power Development Authority (WAPDA) several times before amending its rules. The authority submitted an application along with its Federal Board of Revenue (FBR)-issued trust registration certificate to waive the conversion fee. It was mentioned that keeping in mind the compliance of Financial Action Task Force (FATF)-related laws, the authority decided to change its rules.
Reportedly, the authority first applied to get exemption from PKR 54 million conversion fee for WAPDA Medical College Trust in 2019. However, the authority was subjected to pay a conversion fee, provide adequate parking, and a 30-foot houseline on the premises as prescribed by the LDA Building and Zoning regulations. Later, WAPDA applied for instalments, which was approved in November 2019. The authority was, then, asked to pay the conversion fee in eight equal instalments of PKR 6.8 million.
Sharing details about the college, it was disclosed that the medical college will be developed on Abdul Sattar Edhi Road in Phase-II of WAPDA Town. The authority has allocated 47-kanals of land for the institute.
The LDA has also approved similar applications from other charitable organisations including Shaukat Khanum Memorial Cancer Hospital & Research Centre and Tehzibul Akhlaq Trust for setting up New Aligarh University in Lahore.
Iqra holds BS in International Relations and is passionate about writing engaging content on trending real estate topics. When not working, she is either spending time with family, shopping, or discussing shows & movies.
