DHA City Lahore has become a bone of contention between investors and the Defence Housing Authority (DHA). Despite it being launched years ago, the project still shows no traces of development. Moreover, development work is unlikely to start any time soon.
Today, there’s a rather important update to share. The National Accountability Bureau (NAB) has arrested Globaco (Pvt) Ltd Chief Executive Officer Hammad Arshad on charges of corruption, per a news source. Arshad had signed an agreement with DHA in November 2009 to develop DHA City on 25,000 kanals of land. Globaco (Pvt) Ltd was supposed to acquire the land, but failed to do so, leaving investors clueless about DHA City’s status. Reportedly, the company could only purchase 13,103 kanals in scattered patches.
NAB has alleged that Hammad issued allotment letters to the public and collected a total of PKR 15.47 billion. All this money was transferred to his personal accounts.
The news source reported further that DHA had registered a formal complaint with NAB and there are over 11,715 registered victims of DHA City. NAB is also concerned about the alleged involvement of Elysium Holdings Pakistan Limited and other companies in the land scam.
Arshad will be produced before the accountability court later today. A NAB official told reporters that the bureau will look into the role of other beneficiaries and get to them after completing its investigation.
Rumours about DHA City
Many rumours are circulating in the market about DHA City. One goes that DHA will acquire Park View Villas to make way for DHA City, while another states that a road will be built from Multan Road alongside M2-Motorway to provide access to the project.
I personally believe all these rumours have no gravity right now, as the accountability court’s decision will clarify what the future holds for this project.
Prices
The project features plot files of 5 marlas, 10 marlas, and 1 kanal. I discussed prices of these plot files in my previous post on DHA City, but for your convenience I am highlighting them once again. Please see the table below to have an idea of the current market prices.
| Plot File | Launch Price | Current Average Price | Difference |
| 5 marla | PKR 990,000 | PKR 1,040,000 | PKR 50,000 (profit) |
| 10 marla | PKR 1,990,000 | PKR 1,700,000 | PKR 290,000 (loss) |
| 1 kanal | PKR 3,790,000 | PKR 3,100,000 | PKR 690,000 (loss) |
Note: The figures mentioned in the table above have been provided to us by Yasir Aziz of Quaid Associates. You can contact him at 03228888762.
The fact that the DHA filed a case with NAB signifies that the authority has not turned a blind eye to the concerns of the affectees. Though DHA City is currently sailing through a bit of a rough patch, I believe it will turn out to be a successful project in the longer run, InshaALLAH.
What would you like to say about NAB’s probe into the case? Share your view in the comments section below.
Related News
A similar case is DHA Valley Islamabad involving a much larger amount. Let’s see if NAB also does something about the same.
Dear Choudhry Shb,
DHA Valley has been embroiled in a bit a of a controversies for quite some time now. My colleague Samra Zulfiqar has recently written an article on DHA Valley. I suggest you give it a read:
http://www.zameen.com/blog/where-is-dha-valley-islamabad-headed.html
Regards,
zain Nadeem
Dear sir;
I want to buy plot worth 45 lac for building urgent home. Kindly suggest location where school and hospital is available along with transport.
Regards
Dear Malik Shb,
You can consider areas such as Bahria Town, AWT, LDA Avenue I and Khayaban-e-Amin in this regard.
Bahria Town has some LRR-related issues. Make sure you do not end up buying property in troubled block of Bahria Town. On the other hand, be sure to buy land in the clear area of LDA Avenue I as well. However, in Khayaban-e-Amin and AWT, there are seemingly no such issues.
I have suggested these localities because they have good growth prospects and have possession as well.
If you have any further queries in mind, please feel free to contact me.
Regards,
zain Nadeem
We wish NAB could also take action against Bahria Town on looting money for F-Sector, Golf View etc. and delivering nothing.
DHA used the most common tactic of fraudulent brains. They ask the thieves to proceed with theft and authorities to pursue the thief. DHA had a contract with the company and surprisingly without any clue of its conduct before entering into an agreement . No collateral or bank guarantee !!!!. It is a criminal act on the part of DHA. Their mutual contract must be made public and I am sure things would transpire.
The corrupt guys will keep this money in his banks for few years, hoard the profit and then return 75 % of the original money. Profit will be distributed among both the parties which apparently is the logical end of this case. Investors shall keep suffering same as those in DHA valley.
DHA is equally responsible and must be penalized too, but who will hang bell in the neck of such a big cat !!! Investors / buyers are always unsafe in Pakistan. If not cheated then it is a blessing of God on them or their good luck.
As long as there are foolish people around, a clever guy will never sleep hungry.
Zameen.com once again favoured dha by expressing this news in a soft criticism
Well
If it was bahria ..i can dream reaction
Unbalanced policy
Dear Arslan,
We try not to be biased about any project or locality. You are talking about Bahria Town. Please read our recent blogs on Bahria Town. You will get a fair idea of what we do.
Thanks,
zain Nadeem
If the corruption is proved and the culprits are brought to justice, it will be a big blow to land mafia. It would surely bring down the land prices, especially in Lahore. The land prices are unrealistic and beyond the reach of common people only because of such land mafia. It is a fact that no government servant and common man in Pakistan can buy a piece of land or house in his lifetime with pure income. If common needs are not fulfilled, such corruption acts are committed which spread in the society like cancer. Corrupt people are not afraid of God and are ignorant of the consequences.
Thank you for you feedback
I have been following the DHA City news closely for some time as a potential future buyer…. Thanks Zain for your valuable information. People need to understand risks involved in investments… More Risk…. Big gains…. Some projects are always like that when you invest and they donot give to expected profit soon. Then we start blaming others… Web. We gain we celebrate our visdom and pat our back for the good decisions. I am still interested to buy one canal and 5 marl a file… Any seller contact me via mail or what’s App
captjadi@yahoo.com. 00447886844979.
Dear Dr Khan,
For where I see the market, DHA City will turn out to be a good project but not in the near future. NAB has started probing the DHA City. Let’s see what happens.
May ALLAH bless us all. Aameen.
Regards,
zain Nadeem
Dear Zain,
I am not praising but its true you guys are really doing great job…i really thank you as an overseas Pakistani. You are sharing such useful information which were not available in past.
On other hand, if anyone like to sell 5 marla, 10 marla & 1 Kanal file of DHA city please email me details and price on: only4waqas@gmail.com or watsapp +971552574955. Offer me attractive prices to confirm the deal within days.
All praise is due to ALLAH. Thank you for appreciating.
We wish DHA handle this all in positive way considering people hard earn money is not a joke. Today DHA authority refused to share data with NAB. Let see if they restore their reputation!
Can you please tell me the source of your claim?
Zain bhai, 1-2 days ago it was on Express news channel. That they refuse to share DHA data with NAB.
Hi,
I’m interested in buying a 5 marla plot in DHA City. I know the troubles. But I am thinking of taking a risk. If the issue is resolved then 5 marla would be much more than 10 lac. What do you think? Is it a good idea? If yes then what are the good areas where files are for sale?
yes Khan, it’s good to take risk in this case. Even I would suggest people to consider DHA City for investment. I know the project is on the rocks at the moment, but there are many positive factors as well. Prices, for example, are pretty low and investors can multiply their money once the projects gets out of trouble.
Rest ALLAH knows better.
Regards,
zain Nadeem
Salaam and Goo day
Dear brothers
Any latest news about DHA city?
I’m very much interested as an overseas Pakistani.
Kindly let me know any 10 Marla or 1 kanal file is available.
Truly
Dr Zafar Iqbal
+966538635586
Dear Zain Nadeem Sb
Salaam and Goo day
Any latest news about DHA city?
I’m very much interested as an overseas Pakistani.
Kindly let me know any 10 Marla or 1 kanal file is available.
Truly
Dr Zafar Iqbal
+966538635586
What about safety of refund of money if DHA city project is not matured?
I came to know wirh a reliable sources that dha is extending dha phase9 ext for to settle dha city
Dear Zain,
what you think its save investment and what about the people who were brought DHA city Files. currently their investment are in loss and no body know when this will be release. if this project will not lunched DHA, will returned back public amounts?
Nab cases will not resolved from last 5 years did you think this will resolve?
if any update on this query share with me also because i am also a part of victim in this scam.
I booked a 5 marla plot after making requisite payment I received an allocation letter.thereafter I came to know that there has been a scam in DHA City and public was asked to lodge Thier complaints with NAB, head quater at Thokar Niaz Beg Lhr.I provided the documents,where in I recd a notice from NAB Lhr to record my statement at a notice of 18 hrs.I am an old man of 77 yrs.,besides I had to travel from SUkKUR to Lhr,hence I submitted my inability at such a short notice to attend.thereafter there is a chain of correspondence from Dha City ,the Lawers of Glabco submitting clarifications but no where a ray of hope for providing the plot or refunding the full payment made.the matter revolves around big guns.The problem is from whomever the aggrieved may sought the justice.It is not under stood as to why the Chief Justice of Sp.court not intervene by way of Sue Moto proceedings.the old man like me or hundreds other vanish within short span of time and usurpers will be at ease with the depositors money.for ALLAH sake, rise from personal stake,provide the INSAAF, or you will verily have to face the WRATH Of Allah on the day of justice.