Lahore Development Authority (LDA) decided on Monday to launch two new housing schemes in the provincial metropolis, namely LDA City and LDA Avenue-II, by issuing a formal notification under Section 4 of the Land Acquisition Act, 1894.
The decision was taken in a meeting of LDA`s governing body that was presided over by authority`s chairman and DCO Ahad Cheema.
Participants in the meeting decided that after acquiring land from the landowners and developing the aforementioned schemes, the LDA would give incentive to them by returning 30 per cent developed plots of their total surrendered land.
The LDA would also charge only 50 per cent of the total development cost against the landowners` developed plots. This amount would be received at the time of handing over possession of the plots to them, they decided.
A topographic survey of both the schemes had been completed and the schemes` area had been declared as an LDA controlled area through a notification issued on May 25, 2011.Read More »LDA finally decides to launch two new housing schemes in Lahore