Much like Capital Smart City, Lahore Smart City is the product of Habib Rafiq Pvt Ltd and is just as eagerly anticipated as its counterpart in Islamabad. In the past, it has dealt with rumors of illegitimacy due to the fact that there were delays in the issuance of a NOC document. Read on for crucial a Lahore Smart City NOC Update.
About Lahore Smart City
As mentioned earlier, Lahore Smart City is a rapidly growing project that is sponsored by Habib Rafiq and being developed by a foremost Singaporean development company—Surbana Jurong. Similar to Capital Smart City in Islamabad, the firm has been hired to serve as a Master Planner for Lahore Smart City.
The housing project is to be situated on the Lahore Bypass in close proximity to Kala Shah Kaku. What makes this a prime location is that it links the housing society to the GT Road as well as the Lahore-Sialkot Motorway.
The current information we have on the facilities provided by Lahore Smart City is the follows:
- Smart security
- Smart transportation
- Smart resource management
- Smart connectivity
Just by the provision of these facilities, our experts at Makeen Marketing predict a surge in investment, especially after the Lahore Smart City NOC update.
According to the housing society’s masterplan, two districts have been launched as of August 2020: These are the Executive and the Overseas blocks. The Executive block has plot cuttings of 5-marla, 10-marla, and 20-marla. The Overseas block caters solely to investors who live abroad. The plot sizes available here are 5-marla, 10-marla, and 20-marla.
Overseas blocks usually drive in a lot of foreign investment which is not only good for the housing project but also the economy as a whole. Hence, a Lahore Smart City NOC update approval is will greatly increase the chances of overseas investments.
Lahore Smart City NOC Issued
As mentioned, there were rumors that Lahore Smart City may be an illegal housing society since it had never been granted a NOC.
However, recently, the land for this housing has been verified by the LDA. We have received an extremely important Lahore Smart City NOC update: the NOC was approved by LDA in Feb of 2021.
You may be wondering why acquiring a NOC approval is so vital for a housing society. It is quite simple—an NOC, or a No-Objection Certificate, enables housing societies to provide their residents with amenities. It is issued by government-appointed construction and development regulatory body to a plot of land. Therefore, a Lahore Smart City NOC update will help the project to gain access to basic utilities such as water, gas, and electricity.
What does this Smart City Lahore NOC approval mean?
We have mentioned a couple of times that an LDA approval can make a huge difference in how successful a real estate project becomes amongst investors. Yes, it bolsters the legitimacy of that project but how?
Firstly, one of the things LDA looks into is file tracking. this essentially means that once you’ve submitted the down payment, your file’s status is monitored and regulated by the LDA to prevent any sort of corruption. This adds credibility to the Lahore Smart City tracking process. There is a high level of transparency which means you can quite easily find out the status of your file through the Lahore Smart City tracking procedure.
Another thing the Lahore Development Authority looked into is the Lahore Smart City payment plan. Before this Lahore Smart City NOC Update was issued, the LDA ran a comprehensive inspection of the payment plan ensuring the investors don’t get scammed. This is regulation wasn’t only applicable to the Lahore Smart City NOC update- LDA upholds this standard for each project.
Other than these two, the municipal organization has also screened the Lahore Smart City location as well as the Lahore Smart City website. When it comes to the location, LDA makes sure the land isn’t disputed nor is it acquired illegally. These types of issues can cause a huge ruckus later in the development stages. Because the Lahore Smart City website has been reviewed and approved, investors can rest assured the information there is corroborated by LDA.
Thus, theres to take into consideration before NOC is issued. In the case of LSC it was the following (many more):
- Lahore Smart City tracking process
- Lahore Smart City location
- Lahore Smart City payment plan
- Lahore Smart City website
Lahore Development Authority (LDA)
LDA is the leading municipal organization in the city of Lahore. It works to transform Lahore into a world-class city by providing top-notch public services through economic and social programs as well as urban development, horticulture work, and preserving heritage sites.
The organization was established through the LDA Act of 1975. It was to operate via three wings: Urban Development, WASA, and TEPA. As the name suggests, the first wing work towards city planning and urban development. The Water and Sanitation Agency, WASA, is responsible for planning and distributing water supply, as well as sewerage and drainage facilities.
Lastly, The Traffic Engineering and Transport Planning Agency is in charge of developing and maintaining traffic and transport infrastructure throughout the city.
There is little doubt that Lahore Smart City will become the next big thing in the Lahore real estate market. If you are interested in finding out more about this housing project, get in touch with our experts at Makeen Marketing.