The Punjab Central Business District Development Authority (PCBDDA) has completed its fastest land transfer to date.
The transaction, valued at Rs6.9 billion, involved the transfer of the Lahore Prime 4 and 5 plots. Taxes exceeding Rs310 million were deposited into the government treasury through the Board of Revenue (BoR), marking the largest plot transfer at auction price in Punjab.
This transfer involved a 23-kanal plot owned by the Pakistan Corporate Consortium REIT fund.
It represents the first plot transferred by CBD Punjab to Pakistan Corporate Consortium (PCC) with the BoR recording its largest transfer fee for a single purchase in the fiscal year 2023-24. In a move aimed at bolstering investor confidence and streamlining business operations, CBD Punjab honoured its commitment to transfer land within 24 hours of receiving full payment, a spokesperson for the authority said.
The spokesperson said CBD Punjab is committed to providing a seamless experience for investors through a one-window operation. Recently, the authority had transferred ownership of two amalgamated plots to the PCC following successful bid for them at a competitive auction.
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