Factors That Should Be Taken Into Consideration Before Investing In A Housing Project

Before spending your hard earned money in any private housing scheme, check out the following guidelines specified by Lahore Development Authority (LDA) for buyers and investors.

  1. Being a buyer, you should check complete details about the approval of the society, its payment plan, and other related details.
  2. You should visit the society, before the booking of a plot in any housing scheme and make sure that according to the record of the Revenue Department of Punjab the developer has ample land to develop the society.
  3. Get written confirmation from the developer that you will not be required to pay any extra charges other than development charges and those mentioned in the payment plan.
  4. Visit the site in person and verify the developer’s claim about the project’s proximity with important developments within the city.
  5. Make payments through bank draft or a pay order. Keep record of stamped receipts of the payment, society, company, and developer’s details including their phone numbers, address, and emails.
  6. Make sure that the society has fulfilled all the legal requirements.
  1. Check out the approved map of the society and look over the total number of commercial and residential plots.
  2. Get all the details regarding numbers and blocks of those 20% plots which are temporarily in the possession of the relevant Authority as per the rules and regulations of the Authority.
  3. Make sure whether the plot you are interested in to purchase exists on the approved map or not and review carefully that your plot is not on the land reserved for amenities like mosques, school, parks, community centre etc. in the society.
  1. Make sure from the concerned office of assistant registrar that whether any case registered against the housing society or not. You can also check the status of the society whether illegal or legal from the official website of the concerned developmental authority. If you found it illegal then do not buy any plot in that housing scheme.

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