The joint venture between DHA and Globaco did not end well, with the latter coming under fire for fraud. Many investors have been waiting for a resolution for a while now. Recently, the National Accountability Bureau (NAB) reportedly confiscated around 1,300 kanals of land from Globaco CEO Hammad Arshad.
The move is expected to leave a good impact on the project, but this impact will not be reflected in the asking price of DHA City’s plot files, since the authority has blocked file transfer.
Recent Developments
According to a news report, NAB is now discussing a settlement issue between Globaco and DHA, after confiscating land from the former. In addition, NAB is also planning to write a letter to the interior ministry about issuing a red warrant against Kamran Kayani and Tariq Siddique because of their involvement in the case. The case is moving along with every passing day, and it is possible that a verdict will be announced soon.
Current status
In terms of demand and market price, no activity has been noticed for DHA City plot files, essentially because they cannot be traded formally. Some people were seen buying these files on affidavits by making partial payment – however, that practice, too, stopped later.
The lack of noise in the market does not allude to the fact that stakeholders have forgotten about the DHA City issue. If anything, file owners have been staging demonstrations on a regular basis outside DHA Lahore’s office in Phase VI.
DHA’s stance
DHA projects in Lahore enjoy huge public trust and the authority has maintained their trust by developing a transparent transfer and record system. Moreover, it seems the authority only manages to find itself in hot waters when it collaborates with other entities in the market. Despite all this, the authority has been trying to resolve the case by moving NAB against Globaco.
After a recent protest, a DHA official relayed that the authority intends to give on-ground plots to the DHA City’s plot file owners. This announcement killed rumours that file owners will be offered a money-back deal. The situation is complicated for file owners who have been stuck with their property in the middle of nowhere.
What to expect? While file owners are waiting for a resolution, the one thing we know for sure is that the issue will be resolved eventually. The authority will not allow its credibility to be tarnished by leaving investors out in the cold. NAB’s findings are expected soon, which means that a resolution may well be in sight.
A lot of DHA City Lahore file owners who we have spoken to have shown their unwillingness to sell in minus rates. This is because of the surety that the issue will find a solution eventually.
Are you a DHA City Lahore investor? Have an interest in how this case has been progressing? Sound off in the comments section below!
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Any expecting time lines when this issue get resolved and we will get the land which we actually bought?
I have 3 plots and I am too much worried about DHA City matter because my huge amount block in DHA City project and also facing a loss at yet.
Now my question is that what is expectation in this project that in future is bright or black for solve the DHA City matter.
We must be careful about investing in such projects.
What surprised me is how DHA tried, in legal documents, to distance itself from the project. Highlights the need for more laws and norms regarding off-plan properties. If the project was sponsored and marketed by DHA then no third part is responsible.
100% correct.
100% Correct
I owns a file in DHA city so please keep me updated on DHA city case.
we are very much hopeful that we will get on ground plots, DHA have lot of land available in phase 9 prism , dha rahbbar 1 & 2, phase 6, 7 ,8 … only should have courage to announce that effectives suffered a lot and this is the fruit of their patience …
I am an affectee!!!!!! I will not let them run away with my hardddddd earned money. I will raise my voice on every possible forum.
100% correct
It was responsibility of DHA to solve our issue & not others.We have paid the DHA so he is victim.Here is no law. Allah help us & give Hidayat to DHA owners.
The case needs to be resolved as soon as possible. The Development Work be initiated and completed within one year so that the hard-earned money of the people does not go wasted anymore. There should be above-the-board accountability by NAB against all involved accused. This scam has tarnished the image. The image should be recovered by taking prompt action against the fraudsters and giving relief to the affectees. Otherwise, the people would not go for such schemes to invest due to lack of trust deficit. As the DHA was the only reliable entity to be trusted for investment, hence, the DHA conceiving this fact, should concentrate all its efforts for finding an immediate solution.
It is 100% correct that DHA is responsible for DHA CITY project.
I agree with this DHA had issued the allotment letters to investors so DHA will give the land rather than money back and frauds must be hanged either these are bothers of either dept.
They failed to deliver the legit Documents in court. This may well do a lot of Damage to their reputation.
They Failed to deliver the Legit Documents in Court. This will damage the reputation of DHA big time.
You always seem to be giving hope to DHA City scam affectees despite no other source corroborating the information you provide.I’m not insinuating that you are lying, just that it would be nice to have solid evidence thats backed up by multiple sources.
I think, time is when we all will be in grave.
I believe, a lot of us already there.
I also own a 10 marla file.
if there is a will, there is way. DHA has good enough muscle and resouces are required to resolve this issue. Investors must be compensated and be provided land at whatever place considering our investment is stuck for alomost 8 years now.
I got a file in DHA city… I was really surprised and angry to see a letter from DHA that in which DHA tries to distance itself from DHA city project..
We got plot file on DHA letter head and DHA cannot distance itself from teh project.
DHA has to give plots to the affectees Because it is DHA who made a contract with Globaco and Hammad arshad and not the file owners.
Kindly keep me updated about the issue.
AoA
Any Update on the issue. I bought the plot 7 years ago and still no sign of resolution.
We have made all our payments to DHA city, the Advert when I applied for plot was from DHA, their office was in DHA, DHA has been controlling all official matters.
How can DHA distance themselves from the project.
If there is any fraud it happened with DHA not with the plot owners. DHA should owner their commitments and do this soon. Cannot wait for all life which is normal in such cases in Pakistan. I think we need to keep the issue alive, specially with new NAB chairman.
Stage some protests, make an action group, and gain media attention through adverts, letter to editor etc.
Come on guys help yourself to resolve the issue.
Please keep me updated about the status of DHA city.
I am very disappointed by DHA response by trying to distance itself from this project when clearly it is DHA which is responsible for investors money as investors paid money to DHA and not to Globaco or Hammad Arshad or kayani or watever
As an overseas Pakistani, I was always having trust on DHA because we all know and respect the organisation behind this. This is my hard earning money. We have trusted on DHA and paying the price of our trust.
DHA should respect these people and solve this issue who are not beggars…..
Being as a overseas Pakistani, I do not trust any institution in Pakistan.that was my grave mistake to invest in DHA city, requested by family member for future use.Now Bloody DHA has left all of us in middle of ocean to sink. laws are blind there,courts are sleeping.might is right…is only rule under such heavily corrupted system.Allah knows if victims will ever see their hard-earnings back into their pockets.May Allah Bless All!!!Ameen
Developers should not be allowed to launch any further projects until previously announced projects are not completed. Collecting the payment in advance and let the people to wait for decades for completion of project which never happens is become a trend and no one to stop them. Enjoying with people hard earned money. This practice of developers must be stopped by the High or Supreme court immediately upon taking sumo moto action in this regard. Enough is enough. We are destroying all ethics of life to live. This is ridiculous. What we will leave for our new upcoming generation. shame on us as well as to the decision makers who are appointed to resolve these issues against these looters, letting it in cold store for no reason for such long time. We do not known how a petition can be filed in the High Court or Supreme Court against these developers to stop them from these ghost schemes pending for Decades. All these developer regardless being a big name should come under Ministry of housing and strict laws should be made to ensure that project announced by any developers to be completed in given time and should not be allowed to announce any other project until previous is completed.
i have 5-marla file of DHA city since 2010.
any body can update about the current status and NAB updates.
regards
Mushtaque
I have also one 5 marla plot booking in dha city lahore since its inception.
I am a retired person. I humbly request dha responsible persons to please
give me and all others just and fair solution of this long outstanding issue.
I am also affectee of DHA CITY. I hope DHA will solve the issue as soon as possible.
DHA needs to allot plots to effectees in Phase-IX or Prism
I have also invested in DHA city project. I wonder when this issue will be resolved
I am also affectee of DHA City Lahre, please register my number for whatsapp group or giving any information
0334-9060567
Hi, I am also the victim of DHA City scam as it spoiled all of my planning and would like to register myself for newsletter. My email is mentioned below.
Hi, I am a victim of DHA City project and would like to register myself for any newsletter regarding DHA City case.
Latest News (27-11-2017)
Notices issued by LAhore High Court to DHA and NAB. Please check complete updated news item:
https:// en. dailypakistan. com.pk/pakistan/lhc-issues-notices-to-nab-dha-to-probe-dha-city-lahore-scam/
I am also affected of DHA City Lahore, please register my number for whats app group or giving any information
0337-7047000
I am also affected of DHA City Lahore, please register my number for whatsapp group or giving any information
0337-7047000
Please also register me for watsapp
my no. 0321 4747227