LDA for case against housing schemes

LAHORE Development Authority (LDA) has submitted applications with police for registration of criminal cases against two approved private housing schemes in the City for illegally selling plots mortgaged with LDA.

The Metropolitan Planning Wing of LDA has filed two separate applications in Sattokatla police station for registration of cases against managements of the two housing societies. Sponsors of the two schemes had mortgaged 30 per cent saleable area of these schemes in favour of LDA as pledge for execution of development works and construction of basic infrastructure.

The managements of the two schemes cannot sell the mortgaged plots to anyone till these plots had been released by LDA.Source: http://www.thenews.com.pk/Todays-News-5-152101-LDA-for-case-against-housing-schemes