LAHORE: The revised draft of property management regulations of the Lahore Development Authority (LDA), 2021 has been finalised, and there is a high chance that the LDA’s governing body will approve it in the upcoming meeting.
According to details section 5 of the Management Transfer of Properties by Development Authorities Act 2014, provides for the management of property of development authorities through joint ventures.
Likewise, section 20 of the Act gives the government the authority to make rules for carrying out the purposes of the Act, whereas section 21 authorises an Authority to make regulations.
LDA proposed a draft of the Joint Venture Rules for consideration and approval of the government in its 12th meeting that was held on November 26 and 27, 2019.
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