Lahore: The Lahore Development Authority (LDA) has chalked out a plan to ban the ownership of plots under the open transfer letter mechanism – a news source reported.
To facilitate this end, the civic agency has sought allotment letters and details on property transactions from private housing schemes.
LDA has tasked the officials of its metropolitan planning department to seek the records of 112 approved housing schemes. The officials concerned will notify the developers of schemes falling under LDA’s jurisdiction.
The federal government recently prohibited the ownership of plots under the open transfer letter mechanism. It also directed housing societies nationwide to cancel any registrations made under the said arrangement.
The orders make it mandatory for the schemes in question to register the buyer’s name in the transfer deed. Moreover, the ministry wants these orders implemented within a month’s timeframe.
