Lahore: According to a recent news report, the Punjab Chief Minister (CM) Usman Buzdar on Wednesday presided over the Rs. 10 billion agreement-signing ceremonies between LDA and the Bank of Punjab for financing the LDA City Naya Pakistan Apartments.
LDA Director General (DG) Ahmed Aziz Tarar and Bank of Punjab (BOP) Chairman Zafar Masood signed the agreement for constructing 4,000 apartments over an area of 800 Kanals. The BOP will provide financial resources for the project.
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As per the understanding, the LDA will develop and designate lofts through polling form and will likewise be liable for the upkeep of the building foundation. The BoP will get applications, issue letters of solace to expected allottees alongside the arrangement of delicate advances to fruitful candidates under Islamic home loan financing. The amount of sum will be ring-fenced.
“It is fulfilling that the LDA has intended to build 35,024 apartments over a territory of 8,500 Kanals in three years at Mouza Halloke connecting Ring Road,” the CM said while talking on the event.
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Meanwhile, the CM said PC-I worth Rs. 20 billion had been approved for the provision of necessary infrastructure including construction of roads, sewerage, the supply of water and electricity etc.
“Similarly, another PC-I of Rs. 10 billion has also been approved to construct 4,000 apartments in the first phase. The apartments booking will be made through a 10% down payment and the rest of the dues will be made in installments,” he said.
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