Housing Societies

Housing Cooperatives are intended to provide better and cheaper houses especially to the low and middle income groups who, otherwise, cannot afford to own houses through individual efforts. These cooperatives are also supposed to assure their members substantial savings in housing cost through group actions. The Housing Cooperatives have a great potential in meeting the housing needs of the growing population and in generating economic activity in the country. They are functioning on the cooperatives principles of self-help, self-finance, mutual aid and self-governance.

Revenue Generation

Government revenue is generated through:

  • Capital Value Tax (CVT) (2%)
  • Stamp Duty (2%)
  • Property Tax

More than PKR 1 Billion per annum from Cooperative Housing Societies e.g. PECHS (Valencia / Izmir) paid Rs. 90 Million app. in 2010 - 2011.

Cooperative Housing Societies in Punjab

Name of Divsion

Total No. of Societies

Functional

Non-Functional

Under Liquidation

Lahore 146 106 20 20
Rawalpindi 34 26 7 1
Multan 14 12 2 0
Faisalabad 16 15 1 0
Gujranwala 11 11 0 0
Sargodha 17 8 4 5
Bahawalpur 5 5 0 0
Sahiwal 10 6 0 4
D.G.Khan 1 1 0 0
Total: 254 190 34 30

 

List of Cooperative Housing Societies in Punjab

 

Comparative Table Lahore District

Description

Plots

Percentage

  • Cooperative Housing Societies

106809

29.5

  • Lahore Development Authority (LDA)

103000

28.5

  • Housing and Urban Development Department

4705

1.3

  • Private Housing Schemes

138503

38.3

  • Lahore Improvement Trust (LIT)

8425

2.4

  • Total

361442

100%