LDA starts full-fledged anti-default campaign

LAHORE - Owners of over one hundred commercial properties located in Model Town Extension Scheme, Faisal Town and New Garden Town have been issued red warrants and their buildings are likely to be sealed due to non-payment of prescribed commercialisation fee to Lahore Development Authority (LDA).

The Commercialisation Directorate of Lahore Development Authority (LDA) has launched full-fledged anti-default drive against the commercialised buildings on Monday and sealed a total of five properties at various places during first day of operation in the city. These properties were being utilized by two private schools and an estate office, without paying commercialisation fee charged at the rate of 20 per cent of the total value of the urban land based on valuation tables prepared under the Stamp Act 1899.

Sources revealed that defaulters of the commercialisation fee were directed to deposit the amount due to them, failing which their properties could be sealed. They said that red warrants have also been issued to them. Sources said LDA had also started conducting a complete survey to identify those residential buildings converted into commercial properties without paying the commercialisation fee in the City.