The cost of constructing apartments in LDA City Naya Pakistan has risen dramatically. According to our sources, LDA City Naya Pakistan Apartments have seen a price increase from PKR 2.247 million to PKR 2.95 million. This represents a PKR 500,000 increase in the price of the apartment complex.
Read more with EL news : Final report of land acquisition for RRR project submitted for approval
The increase in the cost of basic construction materials, steel bar, and cement resulted in a shift in the rates of interest. According to reports from the country’s finance ministry, this project’s cost has reportedly climbed by PKR 2.80 billion in the last year alone.
The LDA proposes a flyover and an underpass at Cavalry Ground, which you can learn more about in this document.
He asserted that the government will bear the burden of the increased expenditures and provide relief to allottees through a subsidy scheme, according to Ahmed Aziz Tarar, Director General (DG) of the Land Development Authority (LDA). In order to accomplish this, the LDA has formed a collaboration with the Bank of Punjab (BOP), which has entered into an agreement to offer buyers the option of mortgage financing.
Due to the fact that it is a legally binding agreement between the LDA and the BOP, it is called as a “Project Mortgage Deed.” As a result of the arrangement, the allottees will be able to make payments using traditional banking methods.
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