Rawalpindi and Chaklala Cantonment boards on Monday extended the deadline for the Old Grant Conversion Policy by two years. Now properties of owners who failed to renew the lease till December 2015 would be confiscated.
Both boards issued notices to more than 800 old property owners, directing them to renew the lease punctually.
The lease rate has been fixed at Rs 4 per square feet for residential properties and Rs 8 per square feet for commercial properties.
Earlier, the board had announced December 31, 2012 as the deadline for lease renewal, but almost 90 percent of the old grant owners had rejected the policy refused to submit the fee.
