The Punjab Government has taken a step further in construction of low cost housing for the low-income residents of Lahore by approving 10 billion rupees fund for construction of 4000 residential apartment units in LDA City Lahore. These apartments will be built over an area of 800 acres of land, which has already been reserved for this project.
Lahore Development Authority has signed a historic agreement with the Bank of Punjab to facilitate application procedures and financial matters.
As per the agreement, LDA will be responsible for the following:
- Construction of Apartments
- Balloting for allotment of apartments
- Maintenance of Building and Infrastructure after handover of apartments
The Bank of Punjab will be responsible for the following:
- Receiving applications for allotment
- Issuing letters of comfort to potential allottees
- Providing easy loans through Islamic Banking to successful applicants
The Prime Minister of Pakistan will soon lay the foundation stone of this historic project for the homeless people of Lahore who have been living in rented houses and never dreamed of their own residence.
Following is the newspaper advertisement regarding this development:
You May Also Like...
