Pakistan Property News: Punjab notifies amended rules on land lease

Pakistan Property News: Punjab notifies amended rules on land lease

LAHORE, The Punjab government has issued amended rules regarding the lease of state land for petrol pumps, CNG stations and service stations. According to the amended rules, land for petrol pumps, CNG stations and service stations will be given on a 30-year lease while the successful bidder will not be allowed to cut trees or unnecessarily remove sand or mud from the land.

Land will be given on a lease through an auction and the amount of initial bid will be decided by the committee headed by the district coordination officer (DCO) according to the market rate, says a handout.

The Local Government Department issued a notification regarding amendments in 30 sections and a number of sub-clauses in the Punjab Local Government Property Rules, 2003, and sent its copies to the departments as well as all commissioners, DCOs and TMOs for implementation.

According to the amended Punjab Local Government Property Rules, land having mineral resources, river banks, watercourses and drains cannot be leased. Only two to eight kanals and one to two kanals state land could be leased in rural and urban areas.

Those taking part in auctions will have to deposit the one fourth of the estimated rent as token money in the Local Government Funds in advance. According to new rules, the initial period of a lease will not be more than 15 years whereas, a one-time extension for not more then 10 years would be given. After the expiry of lease priority will be given to the occupant party in the next auction and in case of non acceptance of an auction bid, the lease will be given to other party and the occupant party will be bound to remove material within 30 days from the lease land.

According to amended rules, lease land will be transferred to the legal heirs after the death of the occupant. A successful bidder will have to deposit the rent of lease land in advance in the beginning of the year. Lease will be cancelled automatically if the bidder could not deposit the rent within 90 days and in such case new auction will be held. No district government will be allowed to give provincial government`s land on lease for CNG pumps, petrol pumps and service stations.

Lahore Property News: Parking plazas project dropped

Lahore Property News: Parking plazas project dropped
LAHORE – Government has dropped the idea of constructing over ten proposed park and ride plazas in the City for indefinite period due to some technical reasons – the major being insufficient funds, sources informed TheNation.
“Government postponed the construction of these proposed parking plazas when the departments concerned have completed entire paper work of these proposed parking plazas,” they added.
Although, government was desirous to construct such plazas in the City but financial crunch in the country played key role in flopping this project. “The government even has not enough funds for purchasing land for the construction of parking plazas in some commercial areas of the City. However, no official even higher authorities have any idea about restarting the work on the project, they further added.
Sources in Tepa and LDA further told this scribe that the government had only made tall claims in this regard.
They further said that government just invited pre-qualifications from the consultants only after announcing the construction of these plazas.
“No bids for the construction of any of the proposed plazas could be invited by the government so far and announced projects are still in files despite identifying the sites for the purpose”, the added.
They said that the official of LDA and Tepa justified their performance by completing the entire file work including identifying the sites for the proposed plazas.
The Tepa experts and engineers identified three sites for the construction of such proposed plazas in Anarkali Bazaar including Neela Gumbad Chowk, office of medicolegal and New Delhi Hotel, Barkat Market, Moon Market Allama Iqbal Town, Bhati Chowk, Ichra Ferozpur Road, Model Town Mor, District Courts and some other sites.
The authority had also planned to establish a central business district (CBD) in the City comprising Jail Road, Main Boulevard, MM Alam Road, segment of Hali Road and Sharah-e-Noor Jehan, Gulberg, for more investment opportunities. But, unfortunately government started using delaying tactics in release of funds and the work done by the LDA/Tepa officials going in waste.

Lahore Property Rates Update From Lahore Real Estate April 16,2011

Lahore Property Rates Update From Lahore Real Estate April 16,2011
Allocation Files Prices

DHA Lahore Phase 5-Ext File Is Available With Buyers at 28.00 and Sellers At 28.50 Lacs

DHA Lahore Phase 6 10 Marla Allocation File Is Available With Sellers At 28.00 Lacs

DHA Lahore Phase 6 1 Kanal Allocation File Sellers At 38 Lacs

DHA Lahore Phase 7 1 Kanal Allocation File Sellers At 23 Lacs

DHA Lahore Phase 7 10 Marla Affidavit File Available At 16.25 Lacs

DHA-8 Lahore Ex Parkview 1 Kanal Allocation File Seller(S) At 19.90 Lacs

DHA-8 Lahore Ex Park view 10 Marla Allocation File Seller(S)At 13.30 Lacs

DHA Lahore Phase 9/10 Allocation File Sellers At 14.75 Lacs.

DHA Town Lahore Phase 9 Five Marla Allocation File Available Seller(S) At 8.50 Lacs.

DHA Islamabad Phase 2 Extension 1 Kanal File Seller(S)At 6.80 Lacs.

In last few weeks alone DHA 5 ext have increased 7 lacs. I want to say thanks and congratulations to LRE clients who recnetly bought these files through us at 21 to 23 lacs price range.

Please note as axpected in my last post on DHA6 in last few days alone DHA Lahore phase 6 prices have increased 5 to 7 lacs, I am looking forward to see DHA 6 B H J plots selling at 80 to 85 lacs within next 90 days.

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