LAHORE: Lahore Development Authority (LDA) Vice Chairman S M Imran has said the cost of an apartment to be constructed under LDA City Naya Pakistan scheme will be around Rs2.7 million, and the allottee will have to pay Rs570,000 as down payment, out of which the government will give a subsidy of Rs300,000 per unit.
“The installments [of the remaining amount] will start after the owner is given possession of the apartment, which means the allottee will not pay anything during the first 18 months of the construction work”, Mr Imran said in a press release here on Sunday.
He said that preference would be given to those who had applied to the Naya Pakistan Housing and Development Authority (NAPHDA) for houses some months ago, adding that small installments would enable people to own a residence of their own, instead of paying the monthly house rent.
“A 650 square feet apartment will have two rooms, with an attached and a detached bathrooms, a kitchen, a small lounge and a balcony, while the master plan will ensure that an apartment building has its own park, walkways, sewerage, treatment plants and grid stations, to meet all requirements of a modern community”, he explained.
To further ensure transparency and avoid politically-motivated criticism on the project, he said the LDA had opened an ESCROW account specifically for the project and its funds could not be used for any other purpose.
He said in the scheme a quota had been fixed for journalists, lawyers and government employees, adding that, however, the main share in apartments would go to the public at large.
“The 4,000 apartments will lay the foundation of many other such projects to follow,” he said.
CYCLING EVENT: Lahore Commissioner Zulfiqar Ahmed Ghumman said on Sunday that leisure cycling was full of purpose and enjoyment in spring.
Speaking at a cycling event held here on vehicle-free Main Boulevard (from Liberty Market to Siddique Trade Centre) on Sunday he said it was also meant to sensitise the people about the menace of smog in Lahore and to create a spirit among them to use cycles instead of cars, motorbikes and other vehicles.
The event was participated in by more than 500 professionals and 200 amateur cyclists, including women and children.
The commissioner said the duration and scope of the vehicle-free roads for cycling would be extended in the next phase of the activity.
The event was organised by the Commissioner Office, with the help of MCL and Urban Innovation Organization.
The entire route was decorated with banners carrying anti-smog slogans and health tips etc.
The commissioner distributed cycles and trophies among the winners.
Published in Dawn, March 1st, 2021