Punjab Issues New Rates for Land Acquisition of Road Projects
According to news reports, the Punjab Board of Revenue has formally announced the rates set by the District Price Assessment Committee (DPAC) for the land acquisition of the megaprojects Sheranwala Flyover and Shahkam Flyover in Lahore.
According to the revised announcement, the rates have been changed to account for the land acquisition that has delayed the construction of the two megaprojects. According to the latest notification, the price per marla for commercial land from Bhubhatian to Canal Road has been set at PKR 4.5 million, while the price per marla for residential land is PKR 2.4 million. Commercial and residential land in Mouza Jalliana on Canal Road are taxed at the same rate in the notification.
The acquisition of 62 kanals and 2 marlas of land for the Shahkam Flyover will cost a total of PKR 569.65 million. The commercial rate of Nolakha Mouza is set at PKR 3 million per Marla for the Sheranwala flyover, while the residential fee is fixed at PKR 2.4 million per Marla. 18 kanals and 1 marla of land will be purchased for the construction of the Sheranwala Flyover.
The new rates were established as a result of the landowners’ request to DPAC to reconsider previously set property rates. However, the price hike was denied by the board’s senior member (SMBR). The Board of Revenue has also notified Commissioner Lahore to maintain DPAC tax rates.
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