commercial districts, commercial property in Pakistan, construction of saleable area ratio, conversion fee, FDA, From Residential To Commercial, KDA, LDA, Muhammad Shafi Jakvani, procedure to convert a property, residential properties being converted into commercial ones, width of roads
The demand for commercial property in Pakistan is increasing by an estimated 10% every year. Although new commercial developments (including office buildings and shopping centres) are being established to meet this demand, in some urban areas the availability of land is proving to be a challenge. This is leading to an increasing number of residential properties being converted into commercial ones.
Here are a few points to consider when ‘commercialising’ a residential property:
1. In cities such as Islamabad, Lahore and Karachi, the local development authorities (FDA, LDA and KDA respectively) have declared certain roads and streets to be ‘commercial districts’ where offices, shops and other commercial entities can be constructed. Continue reading