This Act, consisting of 25 sections divided into five Chapters, aims to enable the Development Authorities in the Punjab to strategically manage and transfer immovable properties. It establishes that an Authority shall transfer its property through open auction, allotment by ballot, or through a joint venture with a partner whereby payment may be received in such instalments as determined by the Authority. An Authority shall categorise and transfer a property up to five marlas in the manners specified in the text. An Authority may give its property on lease or rent through auction, single or two-stage bidding, or manage through a joint venture with a partner, on such terms and conditions as may be prescribed. An Authority may transfer manage its property by means of a joint venture with a partner in different ways specified in the text.
باكستان · 2014-06-26