Property Scam Alert - Fazaia Housing Scheme Karachi

Over the years, Karachi's precious real estate has turn out to be a satisfied hunting ground for unscrupulous developers, enabled by corrupt political bigwigs and a bureaucracy that acts as the latter's handmaiden Two more land scams are now within the spotlight.


On Wednesday, NAB knowledgeable an accountability courtroom approximately the fraudulent manner wherein land changed into allegedly acquired inside the name of "Shuhada" with the aid of certain developers and PAF officers for the Fazaia Housing Scheme in Karachi.





NAB has additionally filed a reference against Malik Riaz, the owner of Bahria Town, and numerous others - which include politicians and bureaucrats - for illegal allotment of an amenity plot in Karachi's Clifton place on which a portion of the Icon Tower task is located.


Bahria Town's land acquisition and improvement practices in a couple of projects have been declared unlawful via the Supreme Court in May 2018.





In March remaining year, the apex court docket familiar its offer to pay Rs460bn over seven years in land settlement charges for its large housing scheme in Karachi.


Among the flagrant illegalities inside the free-for-all that characterises the dealing in Sindh authorities land is the delivering of amenity plots to private developers for commercial/residential use.


There is a dire need for housing in the mega town of Karachi, but it can be met lawfully - except that would stage the playing field, and cut into the eye-watering profits enjoyed through the land mafia.