The Lahore Development Authority (LDA) has approved a one-time amnesty scheme to provide major relief to commercial property owners by easing the payment of outstanding dues.
Following cabinet approval, amendments to the land use rules have been finalized and an official notification has been issued to grant relief to owners of commercial properties. Earlier, the government had rejected the proposed amendments. However, after revisions were made, the law was resubmitted and approved.
In the past, commercial property owners who failed to pay their commercial fees on time faced heavy penalties. They were also required to pay according to the rates of the new fiscal year, which significantly increased their total dues.
Under the new law, property owners will now be allowed to pay according to the rate of the fiscal year in which their case was approved. Owners can regularize their cases by paying 22.5 percent of the fee.
Additionally, after default, owners will be given a four-month grace period to make payments. They will also have the option to regularize their commercial cases within six months by paying a 30 percent penalty.
The authority to grant the one-time amnesty has been given to the relevant Chief Town Planner through the grievance committee.
