LAHORE: The balloting of the LDA City Naya Pakistan Apartments project was held at CM’s Office on Tuesday with Chief Minister Punjab Sardar Usman Buzdar in the chair.

The CM pressed the computer button for balloting the 13277 applications for the allotments of 2000 apartments.

Speaking on the occasion, the CM stated that successful applicants will approach Punjab Bank, or its nominated banks, for letters of comfort. The value of an apartment is around 27 lakh rupees and the successful candidates can also submit a separate application for the subsidy to NAPHDA. The successful candidates will submit a ten percent down payment while others will deposit a 21 percent down payment, he said. The rest of the payment will be paid in an easy monthly instalment after occupying the apartment.

The CM expressed the satisfaction that the dream of occupying own house is being materialized as 2000 apartments will be allotted to LDA, federal and provincial government employees in the first phase. The submission of more than 13000 applications is a huge public trust over this project which has been designed on a no-profit, no-loss basis, he added.

The apartments will be handed over to allottees in a short period and the building standard will be better than any other private housing scheme. 60 percent area has been reserved for the green belt, parks, footpaths and roads. There will be a separate parking facility for every apartment block along with a commercial area, he said.

The CM added that community centre, school, dispensaries and mosques will also be constructed while the electrification system will be underground. More than 35000 apartments will be constructed under this scheme, he further said.

Copyright Business Recorder, 2021