The Lahore Development Authority (LDA) has decided to reclassify land in different housing schemes across the city to bring in more money, news sources said on September 20.
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The LDA’s governing body will make the final call on whether or not to accept the new policy. According to the new plan, plot sales will bring in PKR 50 billion for LDA after the reclassification. Also, societies will have to build civic centers and commercial marketplaces to make it easier to do business and make more money. In the meantime, the LDA will invite traders and investors to join the projects.
Also, Gulberg and Garden Town housing complexes will be reclassified in the first phase. In the second phase, Allama Iqbal Town, Quaid-e-Azam Town, and Faisal Town will be reclassified.
It is important to know that the LDA has asked the government for a lot of money to meet financial needs and pay for ongoing development projects. The organisation has also decided to spread out its own sources of income in order to build strong, long-term income streams. The LDA has decided that reclassifying land in different parts of the city is one way to move forward with their plan.