Survey unearths phony real estate business
Rawalpindi Development Authority.
A Rawalpindi Development Authority (RDA) survey has revealed fraudulent activities of private housing schemes within the district.
According to the survey, 52 private housing schemes have been deemed completely fake, while 73 others have been found non-existent on the ground.
The investigation also identified 24 additional schemes as illegal, leading to the cancellation of their land subdivisions.
Investors associated with these questionable schemes have been granted a 30-day window to file any complaints, claims, or objections with the RDA. After this period, the RDA will terminate the files of these schemes and remove their names from the official list.
RDA Director General Kinza Murtaza has further halted the approval of new housing schemes in the district, a move aimed at tightening controls and curbing unauthorised developments.
The RDA's report has categorised these housing schemes into three distinct groups based on their legitimacy and presence.
The categorisation has been made available to the public, with an advisory urging citizens to avoid future investments in these schemes.
The detailed classification provides insights into the nature of each category, helping investors understand the scale of deception in Rawalpindi's real estate sector.
The first category consists of 24 illegal housing schemes where the RDA has officially cancelled land subdivisions.
These include schemes like Ban Alam City, CBR Residencia, Media Enclosure, Al-Haram Phase II Gujar Khan, Sasti Basti, and Turkish Smart City.
Each of these projects had land subdivisions that were deemed unauthorised, leading to their cancellation.
Despite their listings and promotion as legitimate housing schemes, these projects have been confirmed as operating outside legal boundaries.
In the second category, the RDA declared 52 housing schemes as entirely fake.
These schemes lack legal and structural foundations and include projects such as Khyber Model Town on Chakri Road, Pak PWD Chakri Road, Al-Badar Motorway, Rawalpindi Green City, and Posh City.
These projects have been promoted as genuine real estate investments, yet the RDA's investigation revealed they exist solely on paper, with no credible physical or legal basis.
The extent of such schemes highlights a troubling trend in fraudulent real estate marketing within the district, misleading citizens into investing in non-existent properties. The third category highlights 73 schemes that are non-existent on the ground. This means there is no land, no staff, and no office associated with these projects.
Among these non-existent schemes are The Regent Farmhouse, AM Town, City Homes, Green Stone, Al-Falah Town, Sardar Town, Khayaban-e-Millat, and Evergreen City. Despite their promotions, these schemes have no tangible assets or facilities, leaving investors at a high risk of losing their capital in a fictional project.