Proposal to increase Government Price of Lands in Lahore by 10 Per centPublishedMay 21, 2014|ByGohar BhattiWork has just begun to increase the government pricesof lands in Lahoreand formal announcement of schedule is expected on 27th June. Thereis a proposal to increase the prices by 10 per cent on the wholeof all the commercial, residential and agricultural lands. Theschedule will be implemented from 1st July, 2014. In next schedule 14different rates pertaining to Defence Housing Authority will be fixedwhereas 14 different rates of Raiwind will remain unchanged. The changesreflected in new schedule are: Mall Road per Marla price has been changedfrom 26 Lac 87 Thousand to 27 Lac 70 thousand, Hall Road from 22 Lac to 23Lac whereas Jail Road from 19 Lac 35 Thousand to 20 Lac rupees has beenproposed. In the same way Gulberg Main Bulevard from 19 Lac 50 Thousand to21 Lac 60 thousand, Gulberg Main Market from 17 Lac 70 thousand to 26 Lacrupees has been proposed.

MM Alam Road from 13 Lac 95 thousand to 14 Lac 95thousand, New Anarkali from 18 Lac 80 thousand to 20 Lac 20 thousand,Frozpur Road Mozang to Shama Cinema from 14 Lac 80 thousand to 15 Lac 80thousand, Urdu Bazar from 11 Lac 30 thousand to 12 Lac 30 thousand, RangMahal from 29 Lac 50 thousand to 31 Lac 40 thousand, Suha Bazar from 29 Lac50 thousand to 31 Lac 50 thousand and in Azam Market per marla governmentprice has increased from 25 Lac 80 thousand rupees to 26 Lac Lac 80thousand. On the same pattern the price per Marla on Ravi Road has beenincreased from 16 Lac 10 thousand to 17 Lac 20 thousand, Race Course from10 Lac 76 thousand to 11 Lac 60 thousand, MCleod Road from 14 Lac 50thousand to 15 Lac 50 thousand has been propsed.

There is a suggestion toincrease per marla price of Garden Town, Model Town, Mcleod Road and almostall prominent commercial and residential areas by 10 Per cent.A Committee has been formed including sub-Registrars of 9 Registrationbranches responsible for the registration of properties in Lahore, thatwill review all the proposals in this regard and will give the final shapeto the schedule. Objections on the schedule will be received till 15 June,2014 and addressed accordingly. New Schedule will be enforced on First of July, 2014 after which registration of properties in all concernedregistration branches will be done as per the new schedule. In the lastyear the 25 per cent increase propsed by the Collector in the schedule wasrejected.

As per the Letter issued by Board of Revenue Punjab, the increase must haveto be reasonable regarding all the immobeable properties falling in thelimits of urban Lahore and rating area and the schedule was issued with thesame motive.

The rate increased in the commercial areas will be received through stampduty and registration fees by the bank for which an official challan willbe issued. Corporation fees will be received by the relevant staff of everydepartment in every branch on the spot whereas the stamp papers will be gotissued from the State Bank and its recovery will also be through challanforms. Stamp Paper amount will be deposited in state bank on Challan formwhich will be issued two days later and will also be got attested by thetreasury branch.