Authorities in Pakistan have sealed several residential and commercial properties owned by Bahria Town in Karachi, Lahore, Takht Pari, New Murree, and Islamabad. The National Accountability Bureau (NAB) has warned citizens to avoid investing in Bahria Town projects.
A court hearing in
Rawalpindi addressed allegations of illegal land grabs by Bahria Town. The
court issued notices to the company’s owner, Malik Riaz, his son, and former
Punjab Chief Minister Pervaiz Elahi. However, none of them appeared in court.
The next hearing is set for March 20.
Which Properties
Are Affected?
NAB stated that
properties in Bahria Town Rawalpindi, specifically in Phase 8, have been
seized. Notices have been placed on:
- Plot No. 1351
- House No. 1440
Authorities claim
these areas were originally part of the Takht Pari forest. Residents have been
informed, and warnings have been posted, stating that any interference with
these properties will lead to legal action.
Bahria Town’s
Response
A spokesperson for
Bahria Town, Colonel (Retd) Khalil ur Rehman, said that notices were placed,
but the company has not been given clear reasons. He expressed concern about
the ongoing legal action, stating that they are defending themselves in court
while facing additional measures against them.
Bahria Town is still
assessing how many properties are affected. They are waiting for more
information before taking further action.
What the NAB Says
NAB has multiple fraud
and land-grab cases pending against Malik Riaz and others. The cases involve
illegal occupation of government and private land under Bahria Town’s name in
Karachi, Rawalpindi, and New Murree.
Recent actions
include:
- Sealing Bahria Town properties in Karachi,
Lahore, Takht Pari, New Murree, and Islamabad.
- Freezing hundreds of bank accounts and
vehicles linked to Bahria Town.
- Investigating illegal money transfers
related to the company.
NAB claims that Malik
Riaz, currently residing in Dubai, has launched a new luxury real estate
project there. They suspect that some individuals in Pakistan are illegally
transferring money to invest in his Dubai project.
What This Means for
Property Owners
Real estate expert
Ahsan Malik criticized NAB’s approach, stating that authorities are now taking
action against properties they previously approved. He believes that if Malik
Riaz committed fraud, he should be punished, but innocent buyers should
not suffer.
Malik suggested
solutions such as:
- Letting government officials review and
verify property documents.
- Collecting dues directly from residents
instead of cutting off essential services.
- Ensuring property owners are not punished
for Bahria Town’s legal issues.
Dr. Shafiq ur Rehman
from Allied Developers warned that NAB’s actions could harm real estate values.
Bahria Town has sold thousands of property files through dealers, and now
owners may struggle to sell at a good price.
Final Warning from
NAB
NAB has urged people
to avoid investing in Bahria Town projects. They warn that any new funds
sent to these developments could be considered money laundering, and those
involved may face legal action.
Key Takeaways:
✔ Several Bahria Town properties have been
sealed across Pakistan. ✔ Court hearings are ongoing, with the next
session on March 20. ✔ NAB has frozen bank accounts and assets
linked to Bahria Town. ✔ Property owners fear losing investments and
facing financial losses. ✔ NAB warns against new investments in
Bahria Town projects.
Source: BBC
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