Zaitoon, a prominent real estate developer based in Lahore with a four-decade-long history, has announced a comprehensive incentive policy to accelerate development in New Lahore City Phase III. The new directive offers substantial financial rewards and fee waivers for members who commence construction on their plots immediately.
Cash Rewards for Early Construction
To stimulate rapid habitation in Phase 3, the administration has introduced direct cash incentives for plot owners.
According to the official release, the rewards are categorized by plot type:
- Residential Plots: Members initiating construction on residential units are eligible for a cash reward of PKR 500,000.
- Commercial Plots: Investors who begin construction on commercial properties will receive a cash reward of PKR 1,000,000.
Extensive Fee Waivers
In addition to cash rewards, Zaitoon has removed several standard administrative costs to lower the barrier to entry for builders.
The relief package includes:
- 100% Waiver on Possession Charges: Builders are exempt from paying standard possession fees.
- Utility & Design Fee Exemptions: The package includes waivers on electricity connection charges and architectural design fees, further reducing initial capital requirements.
Priority Allocation (First 50 Members)
The developer has implemented a “First Come, First Served” (Pehle Aaiye, Pehle Paiye) policy specifically for the first 50 applicants. These early movers will be granted priority status in plot allocation, ensuring they secure their preferred locations within the phase.
Below is a copy of the policy announcement:
About Zaitoon
Zaitoon has been a key player in Lahore’s real estate sector for over 40 years. New Lahore City is their flagship “City for Life” project, designed to provide modern infrastructure and secure community living.
Contact Information
For detailed terms regarding the construction package, members can contact the helpline 0800-11011 or visit the corporate website.
