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Showing posts from March, 2017

NAB goes after Khayaban-e-Amin – is the trouble over?

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Khayaban-e-Amin has been stuck in controversy for a while now. Despite its great location on Defence Road, not many buyers are currently looking to invest here out of fear that their investments will not be safe. The society  is definitely problematic, which is why the National Accountability Bureau (NAB) has   started an investigation   against its management. While some believe that development work here has been delayed due to Lahore Ring Road’s new route, which   affects many blocks in Khayaban-e-Amin , the fact remains that the society has plenty problems of its own making. According to sources, a few days ago NAB requested Khayaban-e-Amin victims to submit proof of the payment against the properties they bought from the society. A number of genuine buyers and investors have paid high sums for plots, possession for which has not been given since the last several years. NAB will pursue the case once it has a clear idea of the amount that the developer has received from

DHA ISLAMABAD INVESTORS OUTLOOK !!

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                                                 DHA Islamabad is a hot zone in perspective of investors. Lot of new investors and the already invested clients want to have some up-to-date information about DHA Islamabad. So I thought this a perfect time to write a blog on DHA Islamabad Lets first consider the DHA Islamabad Phase ll Extension.DHA have developing Roads there but official map is not been issued. 1 KANAL open certificates have been traded nowadays and the range of these certificates are between 30,00000 - 50,00000 PKR.plot number and sector is being mentioned on these certificates but the actual master plan is not yet been released so nobody can trace these plots and sectors. All those investors who has these certificates and cleared all those dues also issued the Allotment letters to them by DHA Islamabad. A month ago the rates of these certificates have higher because investors thought master plan will be roll out soon but the master plan is not yet be

Rawalpindi Safe City project plan completed

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                                                Rawalpindi:In order to curb crimes, and secure the lives and assets of the people, planning for the Safe City Project in Rawalpindi has been completed, states a news source. According to the plans, a central command and control system will be established in the city. The system will monitor all entry and exit points, important public places and sensitive areas, through hundreds of close-circuit cameras.

NAB investigates Gwadar’s Royal Garden Housing Scheme

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                                                          Lahore: The National Accountability Bureau (NAB) has started an investigation against the Royal Garden Housing Scheme in Gwadar, which is a project by Formanites, Lahore. NAB has requested Royal Garden victims to contact the bureau’s probe officer along with their CNIC and original receipts of the payment they made to the developer. The documents need to be submitted within 15 days of the NAB notification, which was issued through an ad in different dailies. The ad was published in the third week of March. NAB warned the victims that no claims will be entertained after the due date. The ad also said that evidence given in support of fraud or losses will be acceptable after the original documents have been examined and scrutinised.

Punjab Excise Department closes the net on tax evader

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                                                      The Department of Excise & Taxation, Punjab has decided to deal with the flaws in the tax collection system once and for all. In this regard, it is seeking property tax declarations from residents in the region, according to a news source. The system is going to be revamped through a new reform – which is waiting for a final go ahead from the government. Once implemented, it would require tax filers to share accurate details of the property they own. The motive behind introducing this new reform is to bring more transparency to the existing tax collection mechanism. Once the law passes, people in Punjab will be bound to provide written details of their property to the Excise and Taxation Department. If someone shares fake or incomplete details, he will be penalised with heavy fines. To put things into perspective, people who share incorrect information will be fined as per a comprehensive set of terms that have b

RCB gives deadline for approval of maps

Rawalpindi: The Rawalpindi Cantonment Board (RCB) has asked commercial and residential property owner - who have not yet had maps for their units approved – to contact the board in 30 days, according to a newspaper ad. The ad was published in many national dailies on March 18. Property owners are required to submit the proposed maps, along with attested documents for their property, to the board. Failing to do so will lead to the board pursuing a case against them, as the structures will be deemed illegal.

New Balakot City finally sees progress

October 2005’s earthquake is unknown to only a few people. Often seen as one of the worst earthquakes to hit Pakistan, the calamity left many displaced. New Balakot City was launched in 2007 to accommodate victims of the earthquake. In the aftermath, survivors had been forced to live in makeshift homes in Balakot’s Red Zone. At that time, they had been promised alternate accommodation in the shape of the New Balakot City. However, it has been more than a decade and government authorities have not been able to develop the society. This is partly because the land marked for the project is still being occupied by its previous owners, despite the government spending over PKR 1.2 billion on compensations. The housing project in question was originally supposed to be completed by 2011, but the land required for the project has become a bone of contention between landowners and the government. However, there is light at the end of this tunnel. I have found out that concerned authoritie

Square One – new haven for investors?

Owning a shop in Lahore’s central business district is a dream come true for people that want a prime location for their businesses and/or commercial outlets. There are several different projects opening up in the Gulberg area, all of them entice commercial investors with their many offerings. But today I will be discussing a project that has something unique to offer to commercial investors. Square One  offers Pakistan its first taste of the hotel apartment concept. When it comes to the commercial aspect, sitting on the intersection of MM Alam Road and Ali Zeb Road, it has different shop options, available on easy instalments spread over 2.5 years. Despite its location and concept, you can actually book a piece with a 26% down payment, at instalments that fall as low as PKR 227,000. The building will host shops on four floors. The place has many shops that can be used to populate brands both big and small. I believe the project will become a favourite for shoppers all over the

Royal Mall and Residency – with something for nature lovers!

According to studies, the colour green has a positive effect on your health. Hence, a comfortable home in a peaceful city overlooking a gorgeous natural setting with plenty of greenery is becoming a top priority for many people. When people think of getting closer to nature the first city that comes to mind is Islamabad. And there are plenty of new projects in the city worth considering. Amongst many projects that offered comfort and were in the vicinity of plenty of greenery, we chose Royal Mall and Residency for two reasons – its beautiful view and its elevated concept of luxury. The building spreads over 17.6 kanals and stands 8-storeys tall. It sits at the very start of the popular Bahria Enclave, Islamabad – a location that offers a view to die for. With shops on the lower storeys, luxury apartments occupy the upper storeys and each have a sizable terrace overlooking the Margalla Hills. Lounging in an easy chair with a steaming cup of coffee and a good book while looking

Need a cottage in the heavens? Murree Resorts may interest you!

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Murree has been seeing an increased amount of investment of late. People are getting serious about the potential the place has, not just as a vacation getaway but also as a hotbed for investment because of all the tourists it attracts. While looking at the different projects in the area – that look attractive to both heavy-duty investors and people just looking to buy a single home – I found Murree Resorts. Even though I have written about the project before, with its great features, affordable rates and the fact that it is one of the few societies where Town Municipal Authority has allowed construction, Murree Resorts is one project that requires a second look. Location is key Murree resorts occupy a nice spot on Angoori Road near Patriata. The place is close enough to Murree’s more populated areas, and far away for you to truly get in touch with nature. The famous Patriata Chairlift lies at a short driving distance from the project. The society