A complete guide to LDA City Naya Pakistan Apartments
The Government of Pakistan (GoP) is making utmost efforts and utilising all of its resources for providing affordable housing schemes to the low–income groups of the society. In this direction, the government is channelising its monetary resources for introducing affordable houses to stimulate economic and social development.
With a motive of constructing 50,000 housing units, an extension of this objective is seen in the form of ‘LDA City Naya Pakistan Apartments’ under which the government has approved the construction of 35,000 affordable apartments. The project is being initiated by the Lahore Development Authority (LDA) and the civic authority is working with various stakeholders for the completion of the project.
LDA City Naya Pakistan Apartments
Although the project has been approved by the cabinet of Punjab, the project is still in its initial phases. The civic authority of Lahore has released the project details and the purpose of this writing is to accumulate the details and to provide information to most of the questions.
Size of Apartments
It is a very common practice that a person interested in the purchase of a house or apartment beforehand inquires about the size and dimension of the property so that it can easily resolve its accommodation specifications and provide a suitable lifestyle to its family. According to the released details, the apartments are being constructed in 650sqft, 1100sqft, 1500sqft, and 2200sqft.
In the initial phase of the construction 4000 apartments of 650sqft are being developed.
Location of the Project
Since the project is being developed by Lahore Development Authority (LDA), and as evident from the name, the project is being developed in the vicinity of Lahore near Halloki Interchange. The project spans over the area of 563kanal and will be completed over the time of three years.
Cost of Initial Phase of the project
In the light of details unveiled by the Lahore Development Authority, the cost for the development of 4000 apartments in the initial phase stands at Rs10 billion. In this regard, the authority recently made an agreement with the Bank of Punjab (BoP) for financing the project. The potential buyers can avail of mortgage financing and can make use of instalments for financing their apartments.
Construction Cost of One Apartment
As apprised by the officials of LDA, the cost of one housing unit in the first phase is set at Rs2.7 million. For the facilitation of the people, the apartment can be purchased by paying a down payment of 10% while the remaining amount can be paid in instalments over the timeframe of 20 years.
The above-mentioned values are related to the apartments of 650sqft which will be constructed in the first phase. Moreover, a video has been released regarding the layout plan of the project. The layout plan shown through 3D visuals entails the plan about the construction of a 150feet wide road, the development of family parks, community centres, cycling tracks, and mosques.
The 35,000 apartments will be developed in the formation of towers while 4000 apartments in the first phase will be constructed in vertical buildings comprising over four floors. The number of these four-floor -vertical towers will be 135 and each tower will comprise 32 residential units.
In this way, 35,000 apartments will be developed over an area of 8500kanals.
Constitution of a Directorate
For the smooth implementation of the project, Director LDA, General Ahmed Aziz Tarar has constituted a directorate for the construction of 4000 apartments in the first phase. The directorate will be officially called the Directorate of Housing and it will be headed by the Additional Director General (Urban Planning). The directorate will conduct operations related to sales, marketing, and estate management.
The hierarchy of directorate is designed such that a grade-19 officer will be working on the designation of Director while the seat of Deputy Director will belong to the grade-18 officer.