Lahore: Ravi Riverfront Urban Development (RUDA) Chief Executive Officer (CEO) Imran Amin on Sunday (September 5) announced that the authority has started the implementation of the special compensation package for the landowners, whose land falls under the Ravi Riverfront Urban Development Project’s Sapphire Bay (Phase-1), according to news sources.
The special compensation package was implemented after it was approved by the government, on the recommendations of the district administration concerned (Sheikhupura & Lahore), special committee, and RUDA. As per the details shared, the landowners received cheques from relevant revenue committees. It was mentioned that the compensation package for other phases was not prepared yet. It is important to mention that the landowners expressed concerns over the compensation package announced previously. The landowners asked the government to prepare a reasonable package for the acquisition of their land. As a result, the government formed a committee to address the landowners’ concerns and recommend a fair price for the land.
Under the package, the government has provided PKR 3.5 million per acre for the land located along the river bed and developed a plot of size ranging from 5 to 7 marla for each acre. For land other than river bed, the package includes payment of PKR 5 million to PKR 7/8 million with 10 marla developed plot per acre. Similarly, the compensation for rooms, outhouses, infrastructure, and crops is different. According to RUDA CEO Imran Amin, the cost of a developed plot per Marla is approximately PKR 500,000. He went on to say that the total value of the compensation package is more than PKR 5 million per acre for river bed land and PKR 9/10 million for land other than a riverbed.
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.
