How to Avoid Illegal Housing Schemes in Pakistan
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Loading... - Aamya Anagare
- 29 Jun 2022
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According to the Capital Development Authority (CDA), Islamabad has around 140 unlawful housing communities. The civic administration published a list claiming that only 64 societies are authorised.
Following an additional investigation by the Pakistan Institute of Development Economics (PIDE), it was discovered that only 22 of the 64 authorised societies had a No Objection Certificate (NOC). The total number of legal housing organisations now stands at ten.
Graana.com, Pakistan’s smartest property portal, takes a look at how buyers can spot a potential fraud in the real estate sector and provides a small list of illegal housing societies in Islamabad.
Graana OADD Model
Graana.com, Pakistan’s first online real estate marketplace, thinks that the threat of unlawful real estate property investments may be mitigated by using a simple formula dubbed OADD – ownership, approvals, demand and delivery. According to Graana.com, “it is vital to check that the land has been properly and totally purchased, and that all relevant permissions have been handled before investing”.
Similarly, it is critical to assess people’s requirements and then oversee the execution of relevant and successful programmes to meet those needs. When a real estate property checks all of the boxes on the OADD formula, it is likely to be a safe and secure investment.
CDA’s List of Illegal Housing Schemes
In the last 30 years, the CDA has issued 22 NOCs, representing only 6.8 percent of the total land available in Islamabad’s Zones 2, 4, and 5. This shows that Pakistan’s real estate market has enormous development potential. People would lose faith in housing organisations if unlawful colonies are permitted to proliferate.
Buildings, apartment projects, settlements, land subdivisions, and so on, which violate the Master Plan of Islamabad 1960, provision ICT (zoning) Regulations 1992, and Islamabad Capital Territory Building Control Regulation 2020, are illegal. Read More...
