The LDA (Lahore Development Authority) has developed an amendment to the Property Management of the Lahore Development Authority Regulations for 2021. A revised version will be submitted to the LDA administration at a future meeting.
As the news reported, the updated draft revised land purchase and management standards for national societies. A highlight of the amended draft is Section 5 of the Property Management and Transfer Act by Development Authorities 2014. And Section 20 of this Act authorizes governments to make rules for carrying out the purposes of this Act, and Section 21 allows authorities to make regulations.
A committee is constituted in accordance with section 4 of the Regulations to deal with joint venture matters and to carry out joint venture work charged by the DG.
The committee will include:
A joint venture agreement may contain full information on all matters relating to a joint venture in accordance with section 7. The Attorney General (High Court and Supreme Court) reviews joint venture agreements.