Lahore Smart City has successfully reigned over the real estate market since its launch. The fast-paced development work in Lahore Smart City and NOC approval had further reinforced the hype it created. And now, having announced the possession almost three years before promised, Lahore Smart City has once again won over its investors and realtors.
Possession has been announced for Residential & Commercial plots in Sector A & B of Lahore Smart City. The possession process for Sector A & Sector B will start from 6th June 2022.
Let’s find out if you’re eligible for applying for possession.
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Who is Eligible for Possession in Lahore Smart City?
The possession in Lahore Smart City for sectors A & B will be allotted in three phases. The process of possession will start from 6th June 2022 and will be executed on First Come, First Serve basis, so do not delay visiting the Lahore Smart City office to apply for possession.
However, before that, read out the policy devised for possession and the applicable terms and conditions.
Bookings at Lump Sum Payment
- In the First phase, members who booked plots on 100% payment before 19th January 2022 will be eligible to choose a plot of their own choice. The possessions in first phase will be allotted from 6th June 2022 to 17th June 2022.
- In the Second phase, members who booked plots on 100% payment after 19th January 2022 will be eligible to choose a plot of their own choice. The possessions in second phase will be allotted from 20th June 2022 to 1st July 2022.
- In the Third phase, subject to availability company will further facilitate its customers on first come first serve basis, by asking customers to agree with the terms and conditions, which will be shared at later stage.
Must Start Construction within 90 Days!
Moreover, the members are required to start construction within 90 days after the issuance of Allotment Receipt. It is expected that a willingness performa will be signed by the desirous allottee to commence the construction within given time period.
The allocation will be cancelled if a member fails to comply with the terms and conditions.
The public notice for Lahore Smart City Possession is attached below:
What are the development charges?
The development charges for possession-able plots have not been announced yet. That’s another Good News!
It means that No development charges will be required at the moment to get possession. However, the development charges WILL be payable when they are announced for all members.
To facilitate the members for construction of their property, management has decided to start receiving the development charges from next year.
Notification for the start of the possession process will be published in due course of time.
Freebees! Free Architectural Drawings for First Comers!
Moreover, some of the first members to get possession will get free architectural drawings for their homes! The architectural drawings cost around 4-5 lac on average when prepared from professional architects.
For further questions, contact our featured “authorised” real estate agent, Mr. Sahban Tariq Malik, or send a WhatsApp message by clicking here.
You can also ask your query by filling in the simple form below: