Legal Terms:

Application Procedure:

Interested persons must submit their applications duly complete in all respects on the prescribed FORM, provided in the Brochure, along with full amount of first-installment for the particular plot of size of plot through Bank Draft/Pay Order or, as the case ma be, through Bank Challan of the Scheme's Bankers/Branch, in favor of Messrs Formanites Housing Scheme. Applications found incomplete and without amount of first-installment will not be entertaned.

 

Receipt Of Applications

All the applications will be received at the Scheme's office and an official receipt in acknowledgement will be issued immediately. Receipts will be dispatched to the applicants through mail on their given addresses by registered mail  

 

Installments Towards Cost of Plots and Development Charges

After the payment of first installment with the application all subsequent installments must be paid to the scheme at the above address on due dates without fail. If an installment is NOT paid on due date (10th of each month), the Delayed Payment Charges at the rate of 15% will be charged by the Scheme and if any installment and unpaid balance of charges thereon formally demanded or not), the Management shall have the right to cancel the allotment.

 

Successors

A person becoming entitled to the plot by reason of death of the original allotted will be entitled to the same rights and liabilities to which the decreased would have been extra. Corner Plots:- For corner plots cost of land will be 10% more.

 

Discount

A special discount of 15% will be allowed to those allots who pay the cost of their plots in lump sum.

 

Assistance

The Scheme Board of Directors will assist the allots of Formanites Housing Scheme in securing loan for construction of their houses from the registered loan advancing agencies, under their prevailing rules.

 

Brochure And Application Forms

Complete Brochure and Application FORMS are available at the Formanites Housing Scheme's office: 8-Tipu block, New Garden Town, Lahore on payment of Rs.100/-(only including postal charges.) For Overseas Pakistanis--Rs.300/- including postal charges as well.

 

For Overseas Pakistanis

Overseas Pakistanis applying for the plot(s) in Formanites Housing Scheme shall have to make payment including first installment or total cost in lump sum in foreign exchange or in Pak rupees through Bank Draft in favor of Formanites Housing Scheme Lahore direct at the Scheme's Office addressed by registered post.

 

Surrender of Plot

If an allottee surrenders his/her plot for any reason, h/she will be refunded the amount by the Board of Directors after a deduction of 25% of the amount paid by him/her against the allotted plot. The decision of the Management shall be FINAL in this regard.

 

Allotment

Allotment will be made on "FIRST COME, FIRST SERVED" basis but for location and number of the plot the Management decision will be FINAL  

 

Possession of Plots

On completion of Block-A and subsequence blocks, the Management will give possession of plots to the allottees and arrange for transfer of plots to them legally provided they have paid full cost of the plot and development charges and there is noting outstanding against them.

 

Transfer Of Plots And Documentation

All allottees will be responsible for payment Registration Fee, documentation charges and other charges as may be required under law at the time of transfer of plots. An allottee cannot mortgage, pledge, sell, transfer or alienate the plot or plots without prior sanction of the society which can be obtained only after payment of full cost of the plot and development charges along with the registration fee/documentation charges, etc., as may be required under law and a sum of Rs.5000/- in the Scheme's account as N.O.C charges. The legal heirs, nominees or successors of a deceased allottee shall be the only person recognized by the scheme for further proceedings and claims. In case the allottee has appointed more than one nominee yhe survivors of the deceased shall be the only person recognized by the scheme as for entitlement of the plots.  

 

Miscellaneous

No agent is authorized to receive installment(s)/cost against any plot for Formanites Housing Scheme on behalf of the scheme in cash etc. - In case of any dispute the courts of Lahore alone will have jurisdiction. - The Booking of residential plots is underway. - Last date for submission of applications for allotment of plots will be announced through the National Press.

 

Commercial Plots

Commercial areas are designed according to the criteria of modern times, and ideal for hotels, restaurants, departmental stores, utility stores, apartment and all types of business enterprises.

 

Payments

All payments shall be made through bank draft/pay order in favor of Messrs Formanites Housing Scheme.

 

Development Works

The minister for Housing and Physical Planning, Syed Raza Ali Gillani, launched the inauguration of the development works of Formainites Housing Scheme on 22nd July, 2003. Other VIP Guest present included: Rao Muhammad Ajmal(MNA), Ch. Muhammad Mansha Sindho(MPA), Mian Moeen Khan Watto(Former chairman District council Okara), Ch Muhammad Ashraf(Nazim Aziz Bhati Town), Major(R) Rafiq Hasrat(Nazim Nishtar Town)