| About
'Lake City Holdings' |
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| 1. |
Who are the
people behind this project? |
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|
Lake City Holdings (Pvt.) Ltd.
Is collaboration between some of the largest business
& industrial groups of Pakistan. The concerned groups
boast a combined annual turnover of US$ 1 billion
and employee strength of 50,000. |
|
| About
'Lake City' |
|
| 2. |
Where is the site located? |
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The site is located 13 km off
'Thokar Niaz Baig', Lahore. For details, view the
' Location
Map' on the web-site. |
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| 3. |
Which major roads link-up
to Lake City? |
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|
A). Defence Road to Lake City is 13 km from both Ferozepur Rd & Multan Rd while Raiwind Road to Lake City is 13 km from Thokar Niaz Baig. For details, view the 'Location Map' on the web-site.
B). Additionally a proposed 4-lane express way will link up Lake City to the Ring Road which shall make Lake City 20 minutes away from the airport and 10 minutes from center of Lahore. Prequalification tenders of the express way are called for. |
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| Approvals |
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| 4. |
Has the management secured
NOC and all related permissions / approvals from
related authorities including Provincial and Federal
Government for this project / scheme? |
|
|
Yes, the management of Lake
City Holdings has all the related permissions and
the NOC is already approved by LDA (No CMP/LDA/DMP/476-S/444). |
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| 5. |
Have the 'SECP' restrictions
addressed and taken care of? |
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|
Affirmative. All the requirements
by LDA & SECP have been taken care of. |
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| 6. |
Has Lake City obtained
NOC / Approvals from utility agencies such as Electric,
Water, Sewerage, Phone, Gas etc? |
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|
Yes, LCH has obtained all required
approvals from the specified utility agencies. |
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| Land Distribution |
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| 7. |
Has Lake City acquired
all the specified land? |
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Yes, Lake City has acquired
the land, as per LDA rules. |
|
| 8. |
What is the total land
area of the scheme? |
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Lake City covers a total land
area of 2104 Acres. Please view the ' Land
Distribution' page on the website for details. |
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| 9. |
Is it all residential
area? |
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Yes it is all residential area
that includes designated commercial areas and public
buildings as well. Please view the 'Master
Plan' on the website for details. |
|
| 10. |
How much area is earmarked besides the residential plots in the entire development? |
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The earmarked area is 56% and the rest of the area i.e. 44% is designated residential area. |
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| 11. |
How much area is allocated
for 'Bella Vista' Phase 1? |
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From a total covered area of
2104 acres, 1300 Acres has been allocated to Bella
Vista Phase 1. |
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| 12. |
Is there any specific
area demarked for Expatriates? |
|
|
Yes, LCH has demarked a specific area for expatriates where Lake City has sold plots of 1 and 2-kanal. However, there are few plots left for sale which are now on offer in open market again in Pakistan as well as abroad. |
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| Plots |
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| 13. |
What will be the sizes
of the plots available in Lake City? |
|
|
LCH is offering 10-Marla, 1, 2, 4 and 8 Kanal plots in different sectors. Whereas in villas sector, LCH is offering villas of 12-Marla, 14-Marla, 1 and 2-Kanal. |
|
| 14. |
How many residential
plots of 500 sq yds are available in the first phase
of Lake City? |
|
|
In the first phase 'Bella Vista',
2,494 residential plots of of 500 sq yds are available. |
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| 15. |
How many residential
plots of 1000 sq yds are available in the first
phase of Lake City? |
|
|
In the first phase 'Bella Vista',
755 residential plots of of 1000 sq yds are available. |
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| 16. |
Are there any 5 Marla
and 10 Marla plots available? |
|
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There are no 5 & 10 marla plots
available in Lake City. |
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| 17. |
What are the sizes and
prices of the commercial plots? |
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At the moment, Lake City has offered 3 to 4 kanals of commercial plots along Main Boulevard. The plots are available on first come and first served basis and are available in limited numbers. For prices please contact Lake City office at UAN 111-000-096 or local authorized agent of LCH in your area. |
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| 18. |
Is LCH providing fully
constructed houses or only offering plots? |
|
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Yes, 400 villas have been launched which are 12, 14 Marlas and 1& 2-Kanal, details of which are available on our web-site. |
|
| 19. |
What are the details
of walk-up apartments? |
|
|
Lake City has also approved construction
of self-design 3/4 bed rooms apartments, though
the walk-up apartments and 1 Kannal Villas will
be constructed by LCH at some later stage. Details
will be provided in due course. |
|
| 20. |
When will the plots/villas
be handed over to the clients? |
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Plots in Garden Estate I, Overseas Block and Golf Block will be handed over to the clients in March 2008. Garden Estate II, which is consists of 10-Marla plots will be handed over in June 2008. The possession of villas will be twenty five months from date of booking. |
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| Guarantees |
|
| 21. |
Are there any 'Buy-back
Guarantees' offered for Bella Vista? |
|
|
The plots are non-returnable
and therefore the company does not offer any buy
bank guarantees. However LCH may assist in selling
the plots in the secondary market at the ruling
price. The only guarantee the Lake City Holding
gives will be related to the execution of quality
development as being committed by the company. The
market fluctuations will entirely be on account
of the purchaser. |
|
| 22. |
Are there any 'Rental
Guarantees' being offered by LCH? |
|
|
No, there are no 'Rental Guarantees' being offered by LCH on plots. However, on villas, Any reason beyond the control of Lake City, the handing over of the villa to the client who has paid all his dues in full is delayed, Lake City shall be liable to pay Rs. 25,000/- per month computed on 1-Kanal basis as delayed / rental charges. However this condition does not apply in conditions "force majure". |
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| 23. |
Is the 'Title of Property'
guaranteed / secure? |
|
|
Yes, the 'Title of Property'
is guaranteed and secure. |
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| Purchasing |
|
| 24. |
Why are the plots in
Lake City more expensive than plots of other societies? |
|
|
Lake city is a state of the
art, luxurious housing society with the largest
18-hole golf course in Pakistan. The housing scheme
is being thematically built upon European style
architecture from France, Spain and Italy. The land
usage ratio for residential community of Lake City
Holdings is the lowest ever conceived in Pakistan.
Where regular residencies occupy 65-75% of the total
land for residential plots, Lake City Holdings (Pvt)
Ltd is using only 40% of the land as plots for its
residential area. More over, the quality of development
work is based on very high specifications, unprecedented
in Pakistan. |
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| 25. |
Is there an extra price
for corner plots or those on the main boulevard? |
|
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Lake City Holdings (Pvt) Ltd did not charge any premium price for Corner, Park View, or plots available on Main Boulevard in its launch package which have already been balloted for in November 2005. However, an additional premium will be charged henceforth, for Corner plots and for plots in the Park View and Main Boulevard currently on offer in Overseas Block, Golf Block, Lake City Enclave (Villas) and Garden Estate II (10-Marla Plots). For details, please contact our H.O at 111-000-096 or local authorized agent in your area. |
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| 26. |
Where are the Application
Forms available from? |
|
|
Application Forms are available
from:
-- LCH Head Office (The Mall of City Towers, Main
Boulevard, Gulberg, Lahore, Pakistan)
-- LCH official web-site 'www.lakecitylahore.com'
(View the 'Application
Form' page)
-- LCH authorized national & international agents
(View details on 'Banks
& Agents' pages of this website) |
|
| 27. |
Why are other estate agencies selling Lake City properties? |
|
|
LCH has nominated authorized dealers to sell their properties in Pakistan and abroad. Purchasing plots either from our authorized agents or directly from LCH is essentially the same. The authorized dealers will not charge any extra amount for their services. |
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| Banking and Finance |
|
| 28. |
Is there any financial
assistance provided by Lake City? |
|
|
While Lake City itself cannot
provide any sort of financial assistance, our banking
partners, Habib Bank Ltd and United Bank Ltd, do
provide loan facilities and other financial assistance
to the clients. |
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| 29. |
Are their any Banks offering
Finance or Mortgage facilities for Bella Vista? |
|
|
Both Habib Bank Ltd and United
Bank Ltd will be offering 'Consumer packages' shortly. |
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| 30. |
Is there any consumer mortgage financing for overseas pakistanis? |
|
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Consumer mortgage financing for overseas Pakistanis is provided through Anchor Finance Group, USA. For FAQs regarding Anchor Finance Group, Click the logo. |
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| Overseas Payments |
|
| 31. |
How do I transfer my
funds from overseas to LCH in Pakistan? |
|
|
Log on to ' https://remit.ublny.com'
and follow the steps specified on the page to fill
out the form.
Enter the following information when requested:
a. Name of the Beneficiary:
Lake City Holdings Pvt. Limited
b.
Select the Bank: United Bank Ltd.
c.
Select Region: Lahore
d. Enter
the Bank Branch: UBL Gulberg Market Branch, Lahore,
Pakistan
e. Enter the Account
Number at Gulberg Market Branch, Lahore (Branch
Code-0328)
After all the information has been duly filled,
the transaction will be confirmed. Funds will be
taken out of the customer's local US bank (or at
least frozen right away). An automatic e-mail would
be generated thereafter with a 'Tracking Number'.
Customers can use this tracking number to check
the status of their transaction online.
In most cases, the beneficiary account will be credited
the money within two business days (excluding weekends).
The cutoff time is 10 PM for USA (Eastern Standard
Time). Transactions conducted after 10 PM will be
initiated on the next business day. |
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| 32. |
I am only allowed $2,500
limit by UBL, what should I do? |
|
|
This is UBL's standard per transaction
limit for starters. However, you can make multiple
transactions to complete the processing of your
remittance. |
|
| 33. |
What do I do if I still
need a higher limit? |
|
|
Log on to UBL site and send
your limit increase request by clicking "Need Limit
Increase". UBL will advise its decision on your
'Limit Increase Request' within 24 hours (excluding
weekends and holidays); Nevertheless, at the same
time, please contact UBL by going to the bottom
of the page and clicking "Contact Us". In the 'Subject'
line, please enter: "Increased Limit requested for
purchase of property in Lake City, Lahore."
Note: Once the limit is increased by UBL, it can
only be used to purchase property in Lake City.
|
|
| 34. |
I need to remit more
than the per transaction limit of $7,500. How do
I do this? |
|
|
This is UBL's maximum per transaction
limit; however, you can make multiple transactions
to complete the processing of your remittance.
Note: The US $40,000 limit in a 6 month period can
be depleted in one day or in a span of six months,
(this of course will be done in increments of $7,500).
Further, if your total limit has been exhausted,
you can always request UBL for further increase
of credit which they will consider after asking
certain questions. |
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| 35. |
How much will UBL charge
for each remittance? |
|
|
For a minimum of US $300, UBL
does not currently charge any fee for US dollars
to Pakistani rupees as long as the method of payment
in the US is an internet check (withdrawal from
your checking account).
Note: For "fees" on US dollar to US dollar transactions
please visit UBL's Click N Remit and click the link
for fees. |
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| 36. |
How will I know my remittance
has been processed and what proof do I have? |
|
|
You will receive three automated
e-mails for each transaction. The first e-mail will
update you once the first transaction is completed.
The second e-mail will contain information pertaining
to the completion of your transaction. The third
and final e-mail will advice you on the status of
your transaction as "in transit". When the remittance
is deposited in LCH account in Pakistan; you will
receive an e-mail confirming that your funds have
reached LCH. You can use any of the above e-mails,
particularly, the second e-mail as proof of your
remittance or receipt of your remittance.
Note: UBL will not issue any other receipt for any
transaction. |
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| 37. |
Is there any way I can
send the total cost of the property in lump sum? |
|
|
Yes, you can do so by asking
your bank in the US to remit the entire cost of
the property by giving them the name, account number,
name of the bank and branch of "Lake City" and requesting
them to route your remittance through United Bank
Ltd, New York, 'ABA number 026007906'. Please do
not forget to give the specified 'ABA number'. |
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| 38. |
In the above case, will
UBL issue me a proof of remittance for the lump
sum payment? |
|
|
No, in this case your bank in
the US will issue you the proof of remittance or
receipt. |
|
| 39. |
I still have questions
for my remittance on UBL's "Click n Remit". |
|
|
You can call UBL Customer Service
at 212-943-1275 ext. 123 and leave a voice message
with your contact number. You will be contacted
by the customer service representative and all your
UBL "Click n Remit" questions will be answered.
UBL will not provide any advise or answer any question
pertaining to Lake City property. |
|
| 40. |
What are the regulations
for clients delaying their installment payments? |
|
|
Allocation Letter / Agreement will be cancelled upon non-payment of two consecutive installments. |
|
| Construction |
|
| 41. |
What is the final date
for hand-over of fully developed plots including
all the utilities, amenities etc for the construction
of houses? |
|
|
The final date for handing over of fully developed plots in Garden Estate I, Overseas Block, and Golf Block including all amenities for the construction of houses, is March 2008. |
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| 42. |
Are their any design
constraints on houses constructed in Bella Vista? |
|
|
The purchaser agrees to faithfully
abide by all bye-laws / regulations that may be
framed by Lake City with respect to the scheme,
including bye-laws regarding the thematic style
and design of the construction to be made on the
plot. It is understood and agreed that the desirability
and uniqueness of the Scheme will be irreparably
harmed and the value of all plots in the scheme
will be significantly affected by failure to conform
to an overall prescribed thematic design and style.
All plans for construction on the Allocated Plot
will be submitted by the purchaser or any subsequent
transferee to Lake City for approval with regards
to the thematic design and style of the plan so
as to ensure that the design and style conform to
the over all Mediterranean (Spanish, Italian and
French) construction design and style of the scheme.
Lake City shall be entitled to disapprove and exercise
injunction for any construction considered incongruous
in terms of thematic style and design of the scheme. |
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| 43. |
Which designs of constructed villas are on offer in Lake City? |
|
|
LCH is offering Mediterranean style villas in a gated community "Lake City Enclave". The client can choose the architecture style they wish on their plot of choice in our sector "Lake City Enclave" from amongst the designs offered by iconic architects like Meinhardt, Nayyar Ali Dada, Wasif Ali, Isbah Hassan, and Zaamin Developers. |
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| 44. |
Are there any By-laws
and Rules implemented for the occupants? |
|
|
Yes, By-laws advised by LDA are fully applicable and in addition there are By-laws being implemented by LCH keeping in view the community standards as perceived by the company. |
|
| 45. |
Are there any resources
/ means recommended by LCH for construction? |
|
|
Lake City Holdings is trying
to develop consumer products for the betterment
of its customers to construct their houses. |
|
| Maintenance |
|
| 46. |
Will Lake City manage
the project even after its completion? |
|
|
Yes, Lake City will be managed by 'Lake City Guarantee Limited', which has been formed as a non-profit organization to eventually upkeep the community. |
|
| 47. |
What will be the monthly
maintenance charges? |
|
|
Being a non-profit organization,
all the services provided by the management company
will be charged on a monthly basis, at actual cost. |
|
| 48. |
What extra payments
are required to be made by the client for the deployment
amenities such as electricity / gas / telephone
etc on their plot? |
|
|
As per the government regulations,
clients are responsible for the connection of all
such utilities on their plot. |
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