Owner perspective regarding Bahria town Garden city to DHA Serene city issues
Bahria town is currently facing issues regarding its projects in Lahore and Islamabad. The affected persons in these projects have started a protest. And Bahria town is busy in resolving those issues. The affected persons in Bahria Town’s Garden City (Zone V – IX) in Islamabad which has now become the DHA Serene City will soon start their strikes and react if they would not satisfied with their demands. Here is the brief introduction regarding these issues which will give you an understanding.
Bahria Town has launched Garden City in 2013 as a two-year payment plan. At that the prices of these plots were at peak and due to which Bahria claimed that the project has fully developed soon and investors or property owners can start their construction of homes over there. But later on, in 2015, Bahria Town has handed over this project to DHA Valley as a compensation in return of a several Billion from DHA. Moreover, Bahria town has also received full payments of these plots in Garden City.
Property Owners Analysis:
Initially, they told the property owners and investors that with the DHA undertaking Garden City, the property rates over there will shortly and surely rise. And the latest report shows that when property owners reached at round about 5000 numbers, they have been asked by Bahria Town to submit Rs.3500,000 as development charges.
Reason Behind Development Charges:
The launching rate of DHA plots was extremely high round about PKR6,000,000 and PKR4,000,000 for 1 Kanal and 10 Marla residential plots and Bahria claimed that the reason behind this was that these are developed plots. Or you can say that these development charges are included in the initial price of the plots. But now when took over DHA, Bahria imposed high development charges at an extremely high rate of PKR 35,00,000 and PKR 25,00,000 for 1 Kanal and 10 Marla plots. The property owners are keenly interested to know that why they have asked for the development charges again.
Recompense of Bounced Cheque:
As compensation to DHA Valley the project that is facing litigation and delayed work issues, Bahria Town offered a cheque PKR 62 Billion which has bounced. The amount was still paid. Collection and imposing development charges is basically to promote and generate income for the DHA.
The affected investors are not willing to pay development charges as they have already paid high prices for these plots with the extra charges including in these introductory charges. They thought that this is unfair to them and formed a committee to solve their issues with the Bahria Town management.
By having an outlook on these demands, the management has agreed to their terms. Bahria Town has asked the core committee to wait until August 16, as they intend to do something for them. Moreover, management has also agreed to fulfill their obligation of development charges.
DHA has started renamed all blocks and streets of Garden City and new boards have been introduced displaying DHA names of these sectors. GT road opposite the entrance of DHA Phase II, there will be the boards of Serene City instead of Garden City. This sort of development shows that the DHA and Bahria town is in development and advanced stages to finalize their project before August 16.
A million Dollar question over here is if Bahria town does not impose development charges from investors, then what it will actually offer to DHA?
Will they achieve according to their expectations regarding the possession of their property in the near future?
So, let’s see who will lead and win out of this deal.
June 8, 2018 AT 01:48 PM
wonder hat is the future of bahria town heard so many negative thins in a month