The Lahore Development Authority (LDA) has increased the property transfer fee. LDA, a self-sustainable organization has rationalized this increase by claiming that it had not increased its fees, fines and penalties in the last eight years and to stay self-sustainable, it has to raise more revenue.
The Authority claims that the revenue generated from revised/increased property transfer fee will go towards the development of infrastructure in Lahore and infrastructure development of the LDA City Housing Scheme. This move has been criticized by many, reminding that the construction industry is already reeling from inflation and that this would further bring bad news for the sector.
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