LDA to relax bylaws for high-rise buildings

LAHORE

For boosting economic activities and generating more job opportunities in the provincial metropolis, the Lahore Development Authority (LDA) has decided to auction commercial plots in new commercial hub of the city ‘Finance and Trade Centre in Johar Town on soft terms and conditions besides relaxing building bylaws for the construction of multi-storey skyscrapers at the site. 

LDA officials said the authority has introduced an installments based business-friendly payment plan for commercial plots of Finance and Trade Centre which will be sold through auction. Possession of these sites will be handed over after receiving 40 per cent payment only.

Only 10 per cent of the bid starting price, refundable, is required to be deposited as earnest money for participating in the auction. The highest bidder will be allowed to deposit 20 per cent of the cost of land within 20 days after the auction. The first installment of the price of land could be deposited within 30 days of the approval of bid by the competent authority. In case the price of plot is more than Rs one billion, the bidder will have the opportunity to deposit it in eight quarterly installments. 

Spreading over an area of 1123-kanal near Expo Centre in Johar Town, the Finance and Trade Centre is located close to Lahore Canal, Motorway, Southern Bypass, Multan Road, Raiwind Road and other major intercity roads for facilitating easy movement of business community from other cities. Specialised facilities for carrying out different types of major businesses have been provided at this place for making it a nucleus of commercial activities.

Lahore Development Authority has also relaxed building bylaws for encouraging construction of high-rise buildings in the Finance and Trade Centre. Five basements would be allowed on a plot measuring more than four-kanal at the new centre, unlike the previous bylaws where four basements could be built.

The mandatory open side space on a plot measuring more than 20 kanals will be 15 feet compared to 20 feet elsewhere. No-limit height has been proposed for high-rise buildings to be constructed in the area, subject to permission by the Civil Aviation Authority.

A Super Store Plot measuring 90-kanal and Five Star Hotel Site measuring 118-Kanal situated in this centre have already been auctioned by LDA and construction work was also under way on these two plots.

Plots have also been earmarked for establishing corporate offices and IT Tower, a health club on 27-kanal, a hospital on 25-kanal, a mosque on five-kanal, recreation area on 75-kanal, parking and mini golf club on 32-kanal as well as a park and lake on 42-kanal.