Dear friends,
I have booked a condominium (apartment) in a well known project in Karachi. I have already paid all my installments and development charges etc. Now it is more than 9 years since the project was started but project progress is extremely slow and it is only 20-30% done as of today. I don't think that this project is going to be completed in near future. As per our agreement with the builder they supposed to complete the project in 42-48 months but it's more than 114 months.
I need your expert advice as how to resolve this matter, I want my paid money back from them or they should pay me rent on monthly basis until the project is completed. Is there any govt. Authority in the city which resolves such matter.
Please give your expert advise and help.
Regards.
In pakistan there are no consumer rights as far as real estate investments are concerned. …purchasing property on installments is very risky and developers don’t confirm timeline. …avoid all such kind of schemes. …its better to keep saving money and purchase property of your choice per your family requirements when prices come in your range…
Come on friends, give me your input and advice please…
One of my friends was a lawyer and he booked apartment in G-8 Islamabad with Madinawala group of Karachi. They were doing the project in Islamabad but they did not complete on time. He served them legal notice and then took them to court. In the end they paid monthly rent until the project was complete. My friend was the first person to get his apartment.
You should so the same.
Dear PK1,
I am afraid to start a legal action against the builder as they are big and rich people and you know our legal system which is complicated, lengthy and in the end gives favor to rich people.