Fazaia Housing Scheme Karachi refunds booking amount, launches Overseas Block

Fazaia Housing Scheme Karachi has earned immense recognition among investors, especially those seeking short-term gains. As we know, registration slips of the project were traded extensively in the market. Some folks bagged good returns, while others had to bear the pain of a sudden plunge in form prices.

The developer recently opened bookings for standard and luxury apartment to sift genuine buyers from the registration form flippers. While many applied for booking, a good number opted not to do so, planning to use their registration slips for the locality’s upcoming projects.

The developer has now started to refund the registration/booking amount. If you want a refund, you need to fill out the following:

1)      Application*

– Application for refund of registration fee

– Application for refund of booking amount

2) Stamp paper*

Stamp paper worth PKR 50 must be attached to the application form. Download a sample of affidavits to be printed on stamp paper below:

– Sample affidavit for refund of registration amount

– Sample affidavit for refund of booking amount

*Right click and select ‘Save Target/Link As’ to download the required documents.

Please note that if you do not want a refund of the registration forms that were attached to the booking application, your original registration forms will be sent back to you.

According to a Fazaia Housing Scheme Karachi official, if you do not claim the booking amount after failing to make the mark in balloting, the same amount will be adjusted in other upcoming projects.

A completed refund application, registration slip(s), and the stamp paper must be sent to the In-charge Client Services at Fazaia Housing Scheme Karachi’s project office located on Shahrah-e-Faisal, near the Pakistan Air Force (PAF) base. After verifying the application and other documents, Fazaia Housing Scheme Karachi will refund the booking/registration amount via cheques.

And that’s all about the refund of registration/booking amounts. Let’s discuss the launch of Overseas Block now!

New options

Fazaia Housing Scheme Karachi recently launched Overseas Block, which according to a society official features extremely luxurious apartments. You should not get confused by its name – it’s not just for overseas Pakistanis! Locals can certainly also apply for booking.

What’s noteworthy is that you do not need a registration form to apply for an apartment in Overseas Block, which features 2-, 3-, and 4-bedroom apartments. The payment schedule for each is as follows:

Fazaia Housing Scheme Karachi will complete the project and hand over possession within 60 months from the date of balloting. Booking will be confirmed after security clearance by the PAF and units will be allotted through computerised balloting. Please note that the developer will cancel allotment upon failure to pay three consecutive instalments.

You can download the booking form here. (Right click and select ‘Save Target As’)

Time to sign off. If you have any queries about the information provided in the post, please feel free to converse with me in the comments section below.