KARACHI: Bahria Town Karachi (BTK) has come up with another scheme to mint even more money and avoid refunds to the allottees whose properties were cancelled i.e, never existed.
The allottees whose properties were cancelled have been issued demand notes for 35% development charges, and their properties have shifted in yet newly created precincts.
One of such affectees said that his property was in Precinct 26A, which was cancelled, and he was advised by staff that he could claim refund. “Now I have received a letter demanding 35% development charges and my property is now shifted to Precinct 62.”
According to Bahria Town official website there are 33 precincts in the project. A real estate dealer said overall there are 57 precincts if include all other projects.
“I don’t trust Bahria Town, I don’t trust Malik Riaz. They fleeced us for 4 years and then told us our properties were cancelled. Now they are demanding more money, only to tell us after 3 more years that we can claim 100% refund because our properties do not exist,” an affectee said.
The real estate agents and builders are convinced that not a single rupee should be paid to Bahria Town.
“We and our investors have suffered a lot by the hands of BTK and Malik Riaz. Now we are advising our customers and investors not to make any payments to these scammers,” a real estate agent dealing in BTK properties said.
The dealer said that all the allottees BTK and other projects would be slapped development charges, even those which Malik Riaz in his video mentioned would have to pay extra on one pretext or other.
“There was no mention of any development charges and yet these were imposed. The other projects’ allottees would face the same issues going forward.”
A real estate developer said Malik Riaz obtained the existing BTK land through false and criminal means. “I don’t know how many people would be deprived of their land and even lives as BTK has created several new precincts”.
Notorious real estate tycoon Malik Riaz has always been at center of controversy involving illegal land acquisitions and corruption on a massive scale.
Last year, Malik Riaz paid $250 million as part of a settlement with Britain’s money laundering investigating agency.
Bahria Town faces accusations of manipulating land records and forcibly evicting people from their villages on the city outskirts to make way for its projects.
Riaz, a major advertising spender, has an outsized influence over media houses, which block coverage critical of the real estate tycoon. He has also been known of rewarding top news anchors with cash, properties etc.
Given Malik Riaz’s influence and connections, the allottees and affectees have pinned their hopes on Chief of Army Staff General Qamar Bajwa for the justice.