LDA to submit a summary for approval of construction of 4000 apartments

LAHORE: The Lahore Development Authority (LDA) has informed to submit a summary before Chief Minister, Punjab, for the approval of constructing 4000 apartments, in a meeting of the governing body LDA, chaired by Vice Chairman Sheikh Muhammad Imran.

The outline of the summary will appeal the government to set Terms of References (TORs) for the allotment of apartment, eligibility criteria, and standard for determining the price of a single unit.

The participants of the meeting included MPA Sadia Sohail Rana from Lahore, LDA Director General Ahmed Aziz Tarar, Water and Sanitation Agency (WASA) Vice Chairman Sheikh Imtiaz Mahmood, Major Syed Burhan Ali (R), Amir Riaz Qureshi, WASA MD Syed Zahid Aziz, LDA Director General Ahmed Aziz Tarar, Commissioner Lahore and senior officials of the provincial housing, local government, finance and planning and development departments.

Furthermore, the draft pertaining to the agreement between LDA and Bank of Punjab for the issuance of ‘Letter of Comfort’ by the bank to the interested buyers was also approved in the meeting.

The agreement will provide the buyers with facilities of availing loans for the purchase of apartments, and transferring these amounts in the special bank accounts.

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