Lahore: The Lahore Development Authority (LDA) has asked the Punjab government to raise the prices of LDA City Apartments, news sources reported. However, the government has formed a committee to deliberate the issue and analyse the options available.
The LDA officials presented the issue to Chief Minister Usman Buzdar and said that the total cost of the apartments is increased to PKR 2.95 million due to rising building material costs. Previously, the apartments were provided to needy and low-income people at a subsidised rate of PKR 2.2 million.
CM Buzdar’s committee will give its findings in three days. The established committee will debate on three possibilities, including the government bearing the increased financial burden and approving the updated PC-1 of the project, or the government subsidising LDA’s building of 4,000 units. The third alternative is to shift the burden to the customer and charge the suggested apartment price.
Secretary Housing, on the other hand, has called Chief Engineer LDA and members of National Engineering Services Pakistan (NESPAK) for an update on the situation.
In another development, LDA has auctioned off 8 commercial plots in various housing developments across the city. The authority received PKR 104.5 million from the auction of the aforementioned lands.