Ravi River front project attracts real estate tycoons

Investors try to buy maximum land before govt starts acquisition

LAHORE:

Property developers and land mafias have become active in the provincial capital to acquire maximum land in the area falling under Ravi Riverfront Urban Development (RRUD) project.

Speaking to The Express Tribune, various citizens highlighted that huge real estate trading activity is being witnessed in areas fall under phase-1 of the project site. Investors are making all-out efforts to get maximum land before the government kick start land acquisition for development of the new city.

A resident of Karol Ghatti, Faiz Ahmad, pointed out that investors have deployed their agents in the area to acquire all sort of lands, including agriculture, residential and commercial. Right now, officials of different government agencies conducting surveys to document on-ground land situation while representatives of different real estate groups are trying to buy the land before the government goes for acquisition.

He indicated that it was the fifth attempt of the government to initiate development on this project. The idea of Ravi Riverfront project was originally coined right after the partition in 1947 but the consecutive governments have failed to initiate it.

In the previous regime, Pakistan Muslim League-Nawaz (PML-N) had also tried to initiate the project but it shelved the idea owing to non-availability of resources.

Another citizen, Hafiz Yasin, pointed out that hundreds of citizens have already staged a protest against the project and thousands of citizens, including farmers, workers and industrialist, were ready to take to the streets against the project. Locals have already given the call for a demonstration to register their protest on Tuesday (today).

“The government wants to build a new city by snatching shelters from thousands of citizens. We are living in these areas for decades. The government is trying to make thousands homeless. The project is aimed to create mass-scale unemployment as a large number of farmers, labourers and industrial workers earn their livelihood from these areas,” he lamented.

A small factory owner, Azmat Ali, complained that it was being heard that the government wants to acquire land at meagre rates. The market rate of land, near Lahore Ring Road and adjoining areas falling under phase-1 of the project, is around Rs400,000 to Rs500,000 a marla but the government’s rate is half of the market price.

“I believe it is temporary anxiety as the government neither has resources nor capacity to execute the project. Previous governments who had vast experience of rolling out mega infrastructure projects did not dare to touch this project the current rulers will badly fail,” he voiced hope, adding that Shehbaz Sharif had to face litigation for 22 months to acquire land for the metro train, the rulers have not much time even to initiate land acquisition.

Gazette notifications made available to The Express Tribune shows that the government has planned to acquire over 250,000-kanal of land from tehsils City and Shalimar of the provincial capital.

Published in The Express Tribune, November 10^th, 2020.