LDA takes control of mortgaged plots

LAHORE, June 19: The Lahore Development Authority on Tuesday took over control of mortgaged plots in 18 private housing schemes in the city after the developers failed to complete development work even many years after expiry of the deadline given for the purpose.

The mortgaged plots (a guaranty/security to get development work done by developers under the law) will now be sold by LDA through an open auction to complete development work in these residential schemes on its own.

Mortgaged plots are located in Ahbab Cooperative Housing Scheme Phase-I, Al-Assar Housing Scheme, Al-Hamra Housing Scheme, Bagh-e-Iram Housing Scheme, Ravians Cooperative Housing Scheme, China Town Housing Scheme, Fazal Elahi/Makkah Housing Scheme, Gulshan-e-Jinnah Housing Scheme, Green Valley Housing Scheme, Hyde Park Housing Scheme, Kakezai Housing Scheme Phase-II, Khurram Town Housing Scheme, Meraj Town Housing Scheme, OPF Farm Housing Scheme, Punjab Government Servants Cooperative Housing Scheme, Sally Town Housing Scheme (North), Sunny Park (Ext)/Sunny Garden Housing Scheme and Zubaida Khatoon Housing Scheme.

Also, LDA’s Metropolitan Planning Wing demolished a road built on the land reserved for graveyard in Pak Arab Housing Scheme.

The LDA filed an application for registration of an FIR against developers of the scheme. The officials also excavated the passage that had been illegally provided earlier by the scheme to Vital Homes, a scheme established without LDA’s approval.

AUCTION: Open bidding for 34 residential and commercial plots in various LDA owned schemes will be held at LDA Community Centre, 239-A, New Muslim Town on June 20.These plots are located in Sabzazar Scheme, Johar Town, Allama Iqbal Town, Mustafa Town and other LDA housing schemes. Six school sites situated in Eden Canal Villas, PCSIR Phase-I, Campus View Town, Aabid Town and Engineering Cooperative Housing Society will also be auctioned off on the occasion.

Source: http://dawn.com/2012/06/20/lda-takes-control-of-mortgaged-plots/