According to the details, the transfer involved a substantial 23-kanal plot owned by the Pakistan Corporate Consortium REIT fund. This transfer represents a key achievement for both the Central Business District (CBD) Punjab and the Pakistan Corporate Consortium (PCC). The successful and rapid completion of this transaction underscores the efficiency and effectiveness of the PCBDDA in managing high-value land transfers.
This significant transaction also saw the payment of over PKR 310 million in taxes to the government treasury through the Board of Revenue (BOR). This marks the largest plot transfer at auction price in Punjab’s history. The efficient handling of this transaction not only highlights the capabilities of the PCBDDA but also sets a new benchmark for future land transfers in the region.
The transfer is particularly notable as it is the first instance of a plot being transferred from CBD Punjab to the PCC. The Board of Revenue noted that this transaction involved the largest transfer fee for a single purchase in the fiscal year 2023-2024. This impressive feat reflects the growing importance of the CBD Punjab as a hub for commercial and corporate activities.
The rapid transfer process highlights the commitment of the PCBDDA to facilitating business and investment in the region. By streamlining the land transfer process, the authority has demonstrated its dedication to creating a favorable business environment. This accomplishment is expected to attract further investments and contribute to the economic development of Lahore and the wider Punjab region.
The efficient transfer of Lahore Prime 4 and 5 plots is a testament to the collaborative efforts between the PCBDDA and the Pakistan Corporate Consortium. This milestone sets a precedent for future transactions, ensuring that the process remains transparent, swift, and beneficial for all parties involved.
The achievement of this record-setting land transfer signifies a positive step forward for the PCBDDA and reinforces its role as a key player in the development of Punjab’s central business district. The authority’s focus on efficiency, transparency, and investor satisfaction is poised to drive further growth and prosperity in the region.
As Lahore continues to evolve as a major business hub, the successful transfer of these prime plots will likely catalyze more high-value transactions, solidifying the city’s position as a prime destination for business and investment.
