Buying Properties for any reason require specific requirements and some things need to know as legal requirements. LDA is the developing authority in Lahore and adjoining districts including Lahore, Kasoor, Sheikhupura and Nankana Sahib. The new law has authorized LDA to look after the new Development Projects in Lahore Division including four districts (Lahore, Kasoor, Sheikhupura and Nankana Sahib). The LDA website states a plan to make Lahore’s presence in top 30 developed cities in world by 2020.
The new law requires from every land developer, real estate investor, housing scheme and others to get advance approval by LDA. Following are the rules and guidelines suggested by LDA (Lahore Development Authorities) under LDA Act 1975:
- No other development authority, department, town, municipal administration and/or Baldiya authority or any other government department has right to allow new developments in Lahore Division after 19 September 2013. Any approval after that time by any authority other than LDA has no legal value and hence is illegal.
- The sponsors of Private Residential Housing Schemes and Land Sub Divisions are require to get advance approval for the development of new housing scheme or project
- The sponsors of Private Residential Housing Schemes and Land Sub Divisions are require to get advance approval to advertise the new, upcoming or in planning process.
- The developers, investors, sponsors of housing scheme and/or land divisions are required to get NOC from LDA to advertise in media even after getting prior approval.
- Development of land and advertisement without NOC and approval of LDA is punishable crime in the eye of law
Verify the status of Project:
The buying people or authority should know the status of housing scheme and entire project before making any purchase and/or entering into an agreement. As a buyer, you should avoid entering into any agreement with real estate project which is in approval process, as the relevant authority may show you a plan which LDA may disapprove due to certain reasons. LDA may approve a different plan and project which may cause a loss to you and may cause problems of certain types.
Verify the Map of Housing Scheme:
Verifying the status of entire project is not the only thing you need to do, as there are some from Real Estate Sector which led the buyers of plots to panic situation even the housing projects were approved by LDA as well. You have to get the latest map of that housing project and confirm that whether or not the plot(s) or Property you want to buy is included in the approved layout plan of that project?
The previous history include the sale of reserved plots by approved developers, as the plots were reserved by LDA as guarantee for the development work, however either the management of that project or the housing scheme itself may try to sell the plots that are for the use of common public community, i.e. site for parks, community center, mosque or any other.
So be careful about your agreements. You can also seek the professional services of a reliable Real Estate Agent or Agency to look for the matters.