Lahore: Half of the four thousand apartments to be constructed under LDA City Naya Pakistan Apartments project, in connection with the Prime Minister’s program for construction of five million houses, will be allotted to the citizens nominated by Naya Pakistan Housing and Development Authority.
The authority will provide a subsidy of Rs 300,000 per person to those who qualify for allotment. The subsidy amount
will be transferred directly to the ESCROW account of the project.
A MoU was signed between Lahore Development Authority and Naya Pakistan Housing and Development Authority (NAPHADA) in this regard.
Provincial Minister for Housing Mian Mahmood-Ur-Rasheed, Chairman Naya Pakistan Housing and Development Authority General (retd) Anwar Ali Haider, Lahore Development Authority Vice Chairman SM Imran, WASA Lahore Vice Chairman Sheikh Imtiaz Mahmood and other persons concerned were also present at the occasion.
The MoU was signed by Executive Director Projects Brigadier (Retd) Amanat Ali Khan on behalf of NAPHADA and Additional Director General Urban Planning Rana Tika Khan on behalf of LDA.
Speaking on the occasion, SM Imran, Vice Chairman, Lahore Development Authority, said that under the guidance of Punjab Chief Minister Sardar Usman Bazdar, the LDA and the Bank of Punjab had earlier signed an agreement to provide affordable housing to the citizens on easy installments. He said that LDA City Naya Pakistan Apartments project would prove to be a trend setter. The financial model of this project would serve as a precedent
for the construction of affordable housing in the country, he added.