Lahore: The Board of Revenue (BoR) will assess and finalise the rates for land-use conversion in the industrial zone that falls under the jurisdiction of the Ravi Riverfront Urban Development Project (RRUDP), according to news published on August 3.
After the BoR decides the land-use conversion rates, the owners of the industrial units will be able to get the status of their units changed to ‘industrial or commercial’ from ‘agriculture’ by paying the requisite fee. As per the details, the RUDA industrial zone spreads over an area of 7,300 acres, out of which 2,500 acres encompass 800 industrial units manufacturing steel, pipes, aluminium, and more. It was mentioned that RUDA plans to establish an industrial estate with the collaboration of the business community on the remaining 4,800 acres of land.
Ravi Industrial Estate Association Senior Vice Chairman Mian Kamran stated that the land where industrial units are located is categorised as agriculture. He went on to say that RUDA has decided to change the category of the land to industrial or commercial. Moreover, the association asked RUDA to use land-use conversion charges as per the DC rate of agricultural land. However, RUDA has asked the BoR to finalise the charges for land use in the industrial zone.
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.
