According to news sources, LDA Vice Chairman SM Imran said allottees of the LDA City Naya Pakistan Apartments project will pay PKR 570,000 as a down payment. The government will also provide a subsidy of PKR 300,000 per unit.
What's more, after possession of his own unit, it is expected that allottees will pay the rest of the installment. That is, in the first 18 months of construction, allottees are not committed to paying anything.
The Naya Pakistan Housing and Development Authority (NAPHDA) has also confirmed that plots will be assigned to early applicants on a first-come, first-served basis. Prime Minister Imran suggested that paying a small amount would encourage people to buy their own homes instead of paying rent.
In related developments, LDA has opened an ESCROW account precisely to ensure the transparency of the project and the dedicated use of funds.
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