{"id":84133,"date":"2022-02-25T11:29:20","date_gmt":"2022-02-25T06:29:20","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=84133"},"modified":"2022-02-25T11:29:25","modified_gmt":"2022-02-25T06:29:25","slug":"authority-acquire-loan-development-work-lda-city","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/authority-acquire-loan-development-work-lda-city.html","title":{"rendered":"Authority to acquire loan to complete development work in LDA City"},"content":{"rendered":"\n<p>Lahore: The Lahore Development Authority (LDA) has decided to acquire a loan from The Bank of Punjab (BOP) to undertake development work in LDA City, news sources reported. <\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/lda-master-plan-2050-draft.html\" target=\"_blank\" rel=\"noreferrer noopener\">LDA shares draft of Lahore Master Plan 2050, invites suggestions\/objections<\/a><\/p>\n\n\n\n<p>The authority needs between PKR 6 to 9 billion to develop the underdeveloped blocks of the residential schemes. Reportedly, the decision was made during a meeting held to examine the LDA City\u2019s development progress, which was presided over by Vice-Chairman (VC) LDA Naeem-ul-Haq. It was told that the LDA has allocated PKR 5 billion for the development work in the blocks and has scheduled allotment to the file holders. <\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/lda-balloting-plots-lda-avenue-1.html\" target=\"_blank\" rel=\"noreferrer noopener\">LDA to hold balloting of plots for Avenue-1 affectees<\/a><\/p>\n\n\n\n<p>However, because of the COVID-19 situation and other constraints, the authorities could collect only PKR 2 billion in revenue. Therefore, the loan obtained will be used to complete the mandatory <a href=\"https:\/\/www.zameen.com\/news\/section-6-acquire-land-lda-city-road.html\" target=\"_blank\" rel=\"noreferrer noopener\">acquisition<\/a> of remaining lands for LDA City. Moreover, funds are necessary to develop LDA City&#8217;s main gate, access road, mosque, and site office.<br>It is important to note that LDA conducted balloting the LDA file holders in September last year. A total of 3,887 file holders were allocated plot numbers. However, several blocks are still incomplete and awaiting development work before possession.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lahore: The Lahore Development Authority (LDA) has decided to acquire a loan from The Bank of Punjab (BOP) to undertake development work in LDA City, news sources reported. Read: LDA shares draft of Lahore Master Plan 2050, invites suggestions\/objections The authority needs between PKR 6 to 9 billion to develop the underdeveloped blocks of the residential schemes. Reportedly, the decision was made during a meeting held to examine the LDA City\u2019s development progress, which was presided over by Vice-Chairman (VC) LDA Naeem-ul-Haq. It was told that the LDA has allocated PKR 5 billion for the development work in the blocks and has scheduled allotment to the file holders. Read: LDA to hold balloting of plots for Avenue-1 affectees However, because of the COVID-19 situation and other constraints, the authorities could collect only PKR 2 billion in revenue. Therefore, the loan obtained will be used to complete the mandatory acquisition of remaining lands for LDA City. Moreover, funds are necessary to develop LDA City&#8217;s main gate, access road, mosque, and site office.It is important to note that LDA conducted balloting the LDA file holders in September last year. A total of 3,887 file holders were allocated plot numbers. However, several blocks&hellip;<\/p>\n","protected":false},"author":75,"featured_media":73397,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15016,15017],"tags":[51311],"persona":[],"class_list":{"0":"post-84133","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-developments","8":"category-notices-announcements","9":"tag-authority-to-acquire-loan-to-complete-development-work-in-lda-city","10":"cat-15016-id","11":"cat-15017-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Authority to acquire loan for development work in LDA City - Zameen News<\/title>\n<meta name=\"description\" content=\"Lahore: The Lahore Development Authority (LDA) has decided to acquire a loan from The Bank of Punjab (BOP) to undertake development work in LDA City, news\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/authority-acquire-loan-development-work-lda-city.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Authority to acquire loan for development work in LDA City - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Lahore: The Lahore Development Authority (LDA) has decided to acquire a loan from The Bank of Punjab (BOP) to undertake development work in LDA City, news\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/authority-acquire-loan-development-work-lda-city.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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