Buying or renting a property in Pakistan is not a hassle-free process and certainly not without the risk of losing your money. Any person who is familiar with the country knows property scams are a common occurrence. People have sold properties that were not even in their name, while others have brought properties that do not exist.
Paris in Gujranwala
Are you familiar with the name ‘La Ville De Paris Housing Scheme’? It is a project of Master Tiles. Yes, the same company made headlines last year for a more than lavish wedding reception. Their latest project involves setting up a replica of Paris in Gujranwala.
One would think that such a big company would ensure that its housing project meets all legal and regulatory requirements. The answer is no. Pakistan is a place where the rich and powerful seem to get away with everything, including breaking the law. La Ville De Paris is declared unlawful for investment by Pakistan’s Securities and Exchange Commission.
The Gujranwala Development Authority’s Chairman has even confirmed that the housing scheme has not even applied for approval of the layout plan, let alone the NOC. All the while, the owners are spending big on promotional activities. The owners are even offering certificates for Rs 115,000, pre-requisites for buying a property in the society.
Interestingly, the developers are yet to complete the acquisition of the land on which the society is to be built. More interesting is that the owners are the same people who launched the infamous Master City a few years ago. The project is marred in legal issues, and investors have lost billions of rupees.
Unfortunately, the owners are now again allowed to defraud the people. Until the court acts against the culprits, such property scams will continue, and people will continue losing their money. The only way to avoid such scams is to conduct due diligence by verifying the documents from the relevant authorities.
Property Scams in Islamabad
Islamabad is no exception when it comes to property scams. Many illegal housing societies are operating in the capital. The most notable is Ghauri Town which is located on Islamabad Expressway. Despite paying the dues, many people are yet to get their plots. The housing authority is even involved in environmental degradation and encroachment. What is surprising is that they have been allowed to expand, highlighting the complicity of CDA officials.
How to Avoid Housing Authority Property Scams in Islamabad
If you want to buy a property in a housing society in Islamabad, ensure that they are legal and have the required NOC. The below table shows the status of private housing authorities in Islamabad. We recommend checking this official CDA list for the latest updates.
There are housing schemes that market themselves as being in Islamabad and having the required approvals, e.g. Muhafiz Gardens, Rawat Enclave, Faisal Town, Grace Land Housing, and Air Line Avenue. However, that is not the case. These housing authorities do not fall within the area of Islamabad, nor do they have any approval from CDA.
As you may know that Islamabad is divided into five zones. Click here for a complete list of the unauthorized housing authorities in each zone. Aura Properties recommends checking the CDA website before purchasing any property in an Islamabad-based housing society to avoid issues.
This article aimed to inform the reader that private housing authorities often make promises of providing European standard living and amenities. But in many cases, it turns out to be a scam. Many people have invested their life’s earnings in such scams. We request all buyers to confirm the legality of the society in question before making a purchase. If you need any help purchasing any property in Park View City, Eighteen, Capital Smart City, or others, reach out to Aura Properties. Our representative will help you with the due diligence and ensure that your money is invested in the right place.