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LDA recovers Rs 1.2 million from 15 residential buildings - Salman - 05-23-2014 02:17 PM
LDA recovers Rs 1.2 million from 15 residential buildings
taff of the Commercialisation and Recovery Directorates of Town Planning Wing of Lahore Development Authority (LDA) recovered an amount of Rs 1.2 million from 15 residential buildings, being used illegally for commercial purpose in different blocks of Allama Iqbal Town on Wednesday. Earlier, a total of 30 residential buildings had been sealed by LDA staff for non-payment of annual commercialisation fee despite commercial uses of these premises, disclosed a LDA's spokesperson here on Wednesday.
Owners of the properties under illegal commercial use have been warned, in their own interest, to apply for commercialisation of their respective properties under the new Business Friendly Annual Commercialisation Policy 2014. LDA has allowed annual commercialisation of properties for a period of next 10 years till 2024, as part of its Business Friendly Commercialisation Policy initiative.
The spokesperson clarified that a property seeking annual permission for commercialisation should not be situated on roads/re-classified zones already approved for permanent commercialisation. No Objection Certificates from adjoining (left, right and rear side) neighbours, consenting to the commercial use of the property, must be provided and the same are to be renewed before changing the nature of the commercial use of the property.
No structural changes shall be allowed in the buildings after grant of temporary/annual commercialisation permission. It shall not be allowed for hazardous industries, chemical storages and usages involving sources of noise and pollution. Annual commercialisation permission would be renewable on yearly basis. Commercialisation fee will be charged annually at the rate of 1.25 percent of the commercial value of the property, which would be payable in lump sum or in two equal instalments. Application for annual commercialisation should be addressed to Director Commercialisation, LDA along with copy of the NIC and ownership documents.
Copyright Business Recorder, 2014