To Authorities!
Order the builder/s to submit complete sales and payments records regularly.
Dawn reported on Sep 18, 2021 that NAB ( National Accountability Bureau ) is investigating against Hafeez ur Rehman Butt, Babar Chughtai of Green Wood Residency and others for involvement in cheating public at large.
No escalation shall be granted to the developer who has failed to complete the project in time. (Clause 5-1.4) (As SBCA Building Town Planning Regulations)
In case of delay in handing over possession the Developer shall pay mark-up to the allottee at the rate of prevailing banks rate on the total amount paid, for the period of delay calculated from the completion time specified by the Authority. (Cl.5-1.21)
No Developer shall sell or transfer the whole project to any one for sale or transfer the units of the project to the general public, unless prior intimation to the Authority is given and No Objection from the 2/3rd majority of the allottees is obtained. (Clause 5-1.24) (As SBCA Building Town Planning Regulations)
You need to claim minimum 4.25 times more than your investment but time value of your money is 10.7 times more than your investment if invested 13 years ago.
If ABAD has no scrutiny mechanism for its members, even for it’s elected Chairmen then who else will do it? How authorities leave the general public to the predators?
