Boards extend last date of renewal of old property lease

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RAWALPINDI: Rawalpindi and Chaklala Cantonment boards have extended the date of Old Grant Conversion Policy for two years and now property owners who fail to re-new the old property lease till December 2015 will be arrested.

Both the cantonment boards have issued notices to more than 800 owners of the old properties in their respective jurisdictions directing them to renew the lease before the due date.

The boards have fixed the rate of lease at Rs 4 per square feet for residential properties and Rs 8 per square feet for commercial properties.

Earlier, the board had announced December 31, 2012 as last date for renewal of the old properties but almost 90 percent of the old grant owners did not submit the property fee, while only 10 percent of the owners submitted the fee according to the rates announced by the authorities.

Courtesy: Daily Times

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