LDA has officially notified about the hikes in rates of property transfer fees, NOC issuance, and approval of maps for real estate projects.
The new fee will now be calculated at 1% of the DC value instead 7000 fixed value per Marla. Lahore Development Authority will collect increased and updated fees for issuance of No Objection Certificates, Certification of approval for maps, and fines on unlawful constructions and violation of bylaws.
The LDA Act 1975 has gone through many revisions according to their notification. Among them, few are:
- The transfer fee for the new LDA Housing project will be 10thousand instead of 7 thousand per Marla.
- The legal heir transfer cost will be set at 0.25% of the DC value of the real estate.
Likewise, the mortgage cost will be set at 0.25% of the DC value of the real estate and 5 Rs per sq. ft. on built land.
- The charges for copying will be 1 thousand per page
- NOC will be 0.25% of the DC value of the property on a yearly basis
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