Real estate fraud

Published January 24, 2023

I AM an overseas Pakistani and booked 500 square yards plot of land in Bahria Paradise in Bahria Town Karachi in 2017. The land was allotted to us in Precinct 58 (plot No. 4, street/road 20).

In 2020, we came to know that the allotted land falls outside the boundary wall of the said society. On inquiry, we were asked by the developers to deposit full amount so that a new plot of land could be allotted to us. We paid the full amount and were told that the land would be allotted in July 2021.

Since then, we have been writing to, calling and visiting the developers for an update, but there has been no response. The money I paid to the real estate company was legally transferred to Pakistan through proper banking channels. Considering the currency devaluation and the cost of capital, my investment in the land is almost Rs20 million.

Having invested that much money, I still do not have a land on the ground, and the company is telling me the same story for over two years now. Intriguingly, we have received numerous calls from individuals claiming to be real estate agents who ask us to get our file merged into other projects at face value, or sometimes at a 30-40 per cent discounted price.

While the developers are currently busy advertising on national media the project’s Phase II, we have no clue where to go and whom to ask for help.

Intakhab Shah
Jubail, Saudi Arabia

Published in Dawn, January 24th, 2023

Opinion

Editorial

Last call
Updated 15 Nov, 2024

Last call

PTI should hardly be turning its "final" protest into a "do or die" occasion.
Mini budget talk
15 Nov, 2024

Mini budget talk

NO matter how much Pakistan’s finance managers try to downplay the prospect of a ‘mini budget’ to pull off a...
Diabetes challenge
15 Nov, 2024

Diabetes challenge

AMONGST the many public health challenges confronting Pakistan, diabetes arguably does not get the attention it...
China security ties
Updated 14 Nov, 2024

China security ties

If China's security concerns aren't addressed satisfactorily, it may affect bilateral ties. CT cooperation should be pursued instead of having foreign forces here.
Steep price
14 Nov, 2024

Steep price

THE Hindu Kush-Himalayan region is in big trouble. A new study unveiled at the ongoing COP29 reveals that if high...
A high-cost plan
14 Nov, 2024

A high-cost plan

THE government has approved an expensive plan for FBR in the hope of tackling its deep-seated inefficiencies. The...