Lahore Development Authority has decided not to extend the deadline of June 15 for depositing first installment of development charges for plots of LDA City phase-1.
It has called upon the plot owners in the scheme for paying the amount due to them by this date positively otherwise mark up @ 17.50 percent per annum will be charged on late payment.
Last date for depositing these charges had initially been fixed as 7th April 2020 by LDA but due to the prevailing situation because of Covid-19, this time limit had been extended three times for the convenience of plot holders. The authority has now decided not to extend the cut-off date any further and called upon the plot owners in LDA City for paying the amount due to them by this day positively to avoid mark up on late payments.
Lahore Development Authority had already been charging half of the actual development charges from the file holders. It has warned that late payment of development charges could result in slowing down of the ongoing development works which were being presently executed in LDA City phase-1, escalation in cost of development of road network and other infrastructure in the scheme as well as delay in handing over possession of plots to the owners.
