To facilitate potential buyers, the Lahore Development Authority (LDA) on Monday rescheduled open auction of plots earmarked for a five star hotel and super store at the Finance and Trade Centre, Johar Town Lahore for September 10.
The decision was taken in a LDA governing body meeting chaired by Lahore District Coordination Officer and LDA Chairman Ahad Cheema. The plots measured 114 kanals and 96 kanals respectively and their auction had earlier been planned for August 23. LDA named the purposed housing scheme at Ferozepur Road, measuring 45000 kanals, as LDA City.
The other new scheme of 10,000 kanals at Raiwind Road would be called LDA Avenue-II. Land for these schemes would be acquired on pattern of the Defence Housing Authority (DHA). In order to avoid litigation, land owners would be granted exemption of land in shape of 25 percent developed plots through negotiations. But land owners would have to pay development charges against the exempted plots.