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.
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.
Total Societies in Punjab
|Name of Division||Total Societies||Functional||Non - Functional||Under Liquidation|
Comparative Table Lahore District
|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|