Date for Finance and Trade Center plots auction changed again

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LAHORE, Aug 21: Lahore Development Authority (LDA) will now hold an open auction of plots on September 10 meant for establishing a five star hotel and a super store as part of Finance and Trade Centre (FTC) project in Johar Town.

The LDA had earlier fixed August 23 date for auction of these plots measuring 114 Kanals and 90 Kanals for the hotel and store, respectively.

As per the approved plan, the LDA has launched work on the project to be executed on a chunk of land measuring 1,123 kanals, situated adjacent to the Lahore Expo Centre in Johar Town.

The authority has divided the land into various plots by allocating 90 kanals for a super store, 114 kanals for the five star hotel, 69 kanal for a bank square, 27 kanals for a health club, 25 for a hospital, 5 for mosque, 75 for recreation area, 32 for
parking lot and a mini golf club, 42 for a lake, 40 for multi-storey apartments, 8 kanals for the service area and 388 kanals for roads. The commercial area (LDA Tower) and a corporate office of the FTC would be built on 111 kanals and 101 kanals, respectively.

“The LDA has allocated a sum of Rs500 million for construction and improvement of infrastructure in the area in its annual budget for 2011-12. It has also decided to relax building bylaws for encouraging construction of high-rises in the FTC,” an LDA spokesman told Dawn.

He said the LDA would also frame special building regulations for this mega project on which civil work would be initiated after a subsoil survey of the site and getting an NOC from the Civil Aviation Authority.

The spokesman said that under the prevalent building regulations, four basements could be built on a plot measuring more than four kanals. At the new centre, five basements would be allowed on the land measuring above four kanals. The
mandatory open space on a plot measuring more than 20 kanals would be 15-feet compared to 20 feet elsewhere, he said, adding that no height limit was being proposed for the buildings to be constructed in the area.

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Date for Finance and Trade Center plots auction changed again
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