LAHORE: The Lahore Development Authority (LDA) is to relax its building by-laws and make special regulations for the Finance and Trade Centre in MA Johar Town.
Under regulations currently in force, a plot measuring more than four kanals cannot have more than four basements. However, five basements will be allowed at the centre. A plot more than 20 kanal sin area is required to have a mandatory 20 feet-wide open space. The open-space requirement in the trade centre has been reduced to 15 feet.
Specifications for height of buildings have yet to be finalised, the decision will be reached after consultation with the Civil Aviation Authority. Construction work on the project will begin after a soil survey of the site. The LDA has already allocated Rs500 million for construction and improvement of infrastructure in the area.
An open auction of plots reserved for construction of a five-star hotel and a superstore at the trade centre will take place on September 10, 2011. The auction of the two plots measuring 114 kanals and 90 kanals, postponed at the potential buyer’s request, was earlier set to take place on August 23 August, 2011.
The Finance and Trade centre is being established by the LDA on 1,123 kanals near Expo Centre. Besides a superstore and a five star hotel, space has been set aside for a bank (69 kanals), health club (27 kanals), hospital (25 kanals), a mosque (five kanals), recreation area (75 kanals), mini golf club (32 kanals) and a park and lake (42 kanals).
Multi-storey apartments will be constructed on 40 kanals and a service area on eight kanals. As much as 388 kanals will be taken up by roads. A separate 111 kanals zone is set aside for commercial purposes and 101 kanals for corporate office and LDA Tower.