5 LDA Procedures You Should Know
Lahore Development Authority, being one of the prominent authorities of the province holds great significance in the real estate sector. LDA is always working on one or more real estate projects and investing for the well-being of people. No matter if you need to register your property or need to change the ownership, LDA is the only institute that can accommodate you. Overseas Pakistanis must also know about these procedures if they are looking to buy property in Lahore.
Here we have listed 5 Procedures of LDA that people, especially overseas Pakistanis, should know:
- Plot Transfer Process
- Approval of Building Plan
- Issuance of NOC Letter
- Inquiry about Stamp Duty and CVT
- Commercialization process
Plot Transfer Process
For the process of transferring properties from one owner to another, the applicant is required to submit an application along with a transfer set including copies of the National Identity Card, Recent Photographs of the applicant, a copy of the certificate of seller and purchaser along with the declaration of seller and purchaser. The applicant has to pay a determined amount of money amid the transfer fee. Now, after fee submission, the applicant is told to submit the application form with asked copies of documents with a copy of paid challan form, stamp duty & CVT, etc.
Approval of Building Plan
To get an approved building plan for your commercial/residential building, you are required to submit an application along with a copy of the ownership certificate, copy of National Identity card, 4 copies of building plan drawing along with A, B form issued by an architect along with the copy of physical possession certificate.
After issuance and submission of the building plan fee challan, the applicant is required to submit the application form filled with correct information, a copy of paid challan form, and every other mentioned document.
Issuance of NOC letter
For the NOC letter, the applicant has to collect all legal and accurate documents including a copy of property ownership (exception letter, allotment letter, transfer letter. Any of these three) and a copy of the national identity card. Then, the applicant must get a challan form from LDA, pay the NOC letter issuance fee and then submit the copy of paid challan form along with every other document attached with the application form.
Inquiry about Stamp Duty and CVT
The applicant has to contact “Khazana Branch” (finance department) in order to take Stamp Duty. The rate & value of stamp duty is according to the DC rate i.e. 2 % of the total DC rate of a particular property. Similarly, the applicant has to take CVT after submission of the 32-A challan in the state bank.
For the complete commercialization process, the applicant is required to submit an application form with the attached documents which are listed below:
- Copy of Ownership Document
- Copy of National Identity Card
- Original Pay Order to Director General of LDA
After filling the form and attaching the required documents, the applicant must submit the fee and then submit the copy of paid challan form along with the application form.