New Lahore City applied around 130,000 per Marla grid station charges on all the residential or commercial regions in the society. The residents protested against the new charges resulting in fruitful action. The management of the society decided to remove the charges from residential or commercial buildings already constructed in the society.
However, all the plot holders whether residential or commercial, need to give the charges. To reduce the burden on investors, New Lahore City divided the amount into 12 installments where six installments has been submitted by buyers. Still, the plot delivery and development in phase 4 of the society cause trouble. Stay with us to know more.
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Why Does New Lahore City Management Fail to Deliver the Plots to Old Investors?
According to the installment plan of 2012, plots must be delivered to the investors but the society management failed to deliver even the plot number. The development in the region has been delayed and hindrances to delivery cause investors to worry about when they will be able to construct their houses. The plot to house dream remains a dream for them yet.
The country head of New Lahore City, Farhan Cheema, took charge and set an example of lead from the front. He strategizes things in a way to begin Phase 4 development as soon as possible. All the machinery from different places was deployed only in Phase 4 to dissolve the negative image of Zaitoon Group regarding delaying these files.
After the construction of dusty roads, the sewerage work, electricity wiring, and gas pipeline will be installed. Within one year, the issue of the delayed file will be resolved by delivering the plot gradually.
Why Didn’t Zaitoon Group Complete the Development Work of Phase 3?
The hype in the market against the group created in Phase 4 due to delay while the developmental work of Phase 3 has been 80 percent completed. This phase also remains in high demand due to its connectivity with Bahria Town Lahore.
The market of Phase 3 New Lahore City has not been affected so much. It’s a sophisticated and wise decision by the society management to focus on resolving the grievances of Phase 4 investors as they don’t have anything on the ground regarding their plots.
Why are the Prices of Plots Appreciated in Phase 4?
Before development, the prices of plots in Phase 4 were negative means lower than the baseline of the initial prices of the plots. Now the prices have appreciated about 4 to 5 lac due to development work by the society management.
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