LDA starts full-fledged anti-default campaign

According to new policy being formulated by the LDA, three star hotels, residential apartments, flats, shopping malls, plazas, markets, departmental stores, financial institutes, showrooms, restaurants, parking plazas, business institutions would be constructed in those places declared as commercial areas. The district government and town administrations would be empowered to allow the construction of buildings of research institutes, marriage halls, cinemas, theatres, auditoriums, concert halls, big halls for exhibition, petrol pumps, Bus and truck terminals and private hospitals on at least four kanals land. The same authority would be empowered to allow the construction of cottage and light industry, warehouses and storages in industrial areas. While in industrial areas, no one will be permitted to start the business of storing and manufacturing of explosive material like ammunition, fireworks, gunpowder, phosphorous, dynamite and other inflammatory substances.

According to outline of the policy, commercialisation fee would be reduced to help boost business activities. As much as twenty percent was charged over the market rate to convert any land into commercial land in past. Now it will be reduced to 10 percent. Besides Rs 2000 were charged as processing fee. It would be waived off completely. In case of map fee, a flat rate of Rs 5 would apply to all sizes of plots.  According to rules, commercial activities will be banned in approved residential schemes. Schools, colleges, universities, homeopathic and allopathic clinics, health care, dispensaries, poly clinics, dental clinics which will be working in residential areas would be exempted from paying commercialisation fee. Same policy would apply to natural parks, wild life forests and historical places.