LDA to build 4000 residential units under NPHP.
LAHORE: As a first concrete step towards Prime Minister’s Naya Pakistan Housing Programme (NPHP), the governing body of the Lahore Development Authority (LDA) has accorded approval for the construction of 4,000 residential units, at a cost of about Rs10 billion.
All the citizens who would be provided mortgage financing facility by Naya Pakistan Housing Authority and the commercial banks will now be eligible for purchasing these apartments.
The 7th meeting of the LDA governing body which held here Thursday was presided over by Vice-Chairman SM Imran. Director General LDA Ahmed Aziz Tarar briefed the participants about the agenda of the meeting.
The meeting was informed that LDA had planned to construct these apartments on 563 kanals of land in Mouza Haloki in a period of one year. As many as 125 blocks of ground plus three-storey apartments, each comprising of 32 residential units, will be built in the first phase. The meeting also decided to construct infrastructure including roads, water supply, and sewerage system, sidewalks, water treatment plots, and other networks on 8,500 kanals of land reserved for constructing of 35,000 apartments and approved PC-1 amounting to Rs20 billion for this purpose.
The meeting also approved the financial model proposed by Aslam Malik & Company, the financial consultant appointed for the LDA City New Pakistan Apartments Project, for making the construction of these apartments a viable project.