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 in Sector A & B. Possession process for Sector A will start in March 2022 while the possessions for Sector B will start from May 2022.
Let’s find out if you’re eligible for applying for possession.
Who is Eligible for Possession in Lahore Smart City?
The possession will be allotted 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 Lumps Sum Payment
- 100% Downpayment: All members who have submitted 100% payment are eligible to apply for possession, regardless which block they had paid for.
- 40% to 50% Downpayment: Members who have paid 40% to 50% downpayment can also apply subject to availability. So, they are advised to check availability of plots before submitting further payment. If slots are available, they can apply for possession after clearing all of their remaining installments.
Must Start Construction within 90 Days!
Moreover, ONLY the members who are willing to start construction within 90 days will be allotted possession. A willingness performa will be signed by the desirous allottee to commence the construction within given time period.
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: