Good News For The Investors of Bahria Town

Bahria Town requests SC to make amounts to Sindh govt as court tells NAB to refrain from launching an inquiry against the dealer

Bahria Town to pay Rs25bn as down-payment by August and from Sept it will pay monthly installments of Rs2.25bn for next three years

 

The apex court had on Thursday received Rs460 billion offer made by the management of Bahria Town as a settlement for its Super Highway Project and restricted the National Accountability Bureau (NAB) from filing a reference against the company and concerned people.

 

A three-member implementation bench of the apex court in the Bahria Town Karachi case judgment headed by Justice Sheikh Azmat Saeed heard the case.

 

The court made it clear that upon default of payment of the required amount, the anti-graft body may proceed against the company in accordance with law.

 

On March 13, the court had reserved its ruling on whether or not to accept an offer of Rs450 billion from Bahria Town to settle the case to the extent of Super Highway Project land of 16,896 acres in Malir and had adjourned the matter until March 21

 

The court had taken up implementation of its May 4, 2018 judgement in the case which held that the land grant to the MDA by the Sindh government, its exchange with the land of the private land developers — Bahria Town — and anything done under the terms of the Colonisation of Government Land Act 1912 by the provincial government was illegal.

 

Malik Raiz the Bahria tycoon said in a video message on his Twitter account:

 

“Bahria Town Karachi would allow it's every plot, house, flat and shop to its members at a promised time,”

 

He further said:

 

 “I want to give good news to hundreds of thousands of members that Alhamdullilah! the initial project of this modern new city in Karachi is in the final phase,”

 

 “I want to assure Bahria Town Karachi’s one and a half lac respected members, 35 thousand employees and their families, all investors, laborers, and stakeholders that Bahria Town has always complied with the laws.”

 

 “The journey of Bahria Town Karachi and Pakistan would continue at all cost Insha’Allah,” he added further on his video message.

 

 "Misreporting of facts, regarding Bahria Town Karachi absolutely malicious. SC (Supreme Court) didn't put any restrictions on developing work by Bahria town

 

Here remember one thing that one of the lawsuits against Bahria Town was filed in 2015 by Faiz Gabol of Langheji Goth.


2 Comments

  • humayoun

    April 2, 2019 AT 07:17 AM

    great initiative from Sindh government. for more details about property all over Pakistan you must concern about real estate website like Rightdeed.com and many more like that to get better view about real estate Pakistan concerning news including propert

    humayoun

    April 2, 2019 AT 07:19 AM

    Good new for real estate investors specially small property investors include 7 marla house plan

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