Karachi: Bahria Town Karachi (BTK) is one of the most iconic residential projects in Pakistan. It is famous for its grandeur, fine range of consumer-driven amenities and well-planned properties to name a few. However, with great success comes controversy and BTK is no stranger to disputes and challenges.
Bahria Town Karachi is often ranked among the best places to live in. This is not hyperbole. This is a view shared by many real estate enthusiasts. The statement may hold true for areas where the developer has not faced any issues. But there is a flip side to it. According to on-ground sources, projects like Bahria Paradise and Bahria Sports City as well as Precinct 47 and Precincts 51-58 are rife with possession issues.
Bahria was, previously, unable to accommodate the people who had bought files in the said precincts. In the wake of this development, buyers demanded compensation from the developer. Initially, no relief option was on the cards. However, local agents whom Zameen spoke to stated that the developer had announced three options for the affectees. These provisions are:
Refund
Exchange with existing apartments, shops or villas
Under the option for refund, affectees can reclaim the amount they paid for their files.
Exchange with other Property Options(merging)
Buyers have the option to exchange their files for apartments, shops or villas owned by private developers working in Bahria Town Karachi. This usually involves adjustment of the price of the file against the price of the property option, while the remaining amount can be paid in cash or instalments spanning up to two years – as per the agreement between the buyer and the private developers concerned. A number of Bahria Town agents are offering the option.
Wait for New Plot Cutting
According to on-ground sources, very few have expressed their intent to avail this option. If people are willing to wait longer, Bahria Town does allow buyers to hold onto their files. It will then adjust the files against new plot cuttings – to be launched. Further information regarding the third option is not available as of yet.
Nicely written. But Bahria town karachi is not giving any refund. I invested in precinct 32 and 33; paid full amount in 2017 but didn’t got any thing. Applied for refund and was told that I will get cheque within 3 months but did not get any thing even after over 15 months (applied in December 2019). Perused my case in karachi and lahore offices but no result. Concerned person in lahore office said there is nothing they can do. And even if we get lucky in getting cheques after 2 years, they will bounce as they don’t have any money. If I look on the value of money then it has devalued by 60% already. So I don’t know where it is going to go from here.
Nicely written. But Bahria town karachi is not giving any refund. I invested in precinct 32 and 33; paid full amount in 2017 but didn’t got any thing. Applied for refund and was told that I will get cheque within 3 months but did not get any thing even after over 15 months (applied in December 2019). Perused my case in karachi and lahore offices but no result. Concerned person in lahore office said there is nothing they can do. And even if we get lucky in getting cheques after 2 years, they will bounce as they don’t have any money. If I look on the value of money then it has devalued by 60% already. So I don’t know where it is going to go from here.
No refunds, no options for people stuck with illegal files. I have file in precinct 44 and have no where to go.