Bahria Town Karachi issued a notice warning property holders to clear their outstanding dues or else their properties would be cancelled as per the terms & conditions. Bahria Town gave final date 30th of November for payment of outstanding dues which amounts to 3 installments.
Files which haven’t paid two consecutive installments are subject to cancellation as per the terms of Bahria Town.
The warning letter is attached below:
Majority of files selling in the market are owned by investors, who haven’t paid even a single installment and files with just down payment have more demand in the market as against those which have installment amounts paid.
As 30th November was closing in, investors were worried and market was going down when bahria town announced to extend cancellation date up to 20th December which resulted in immediate improvement in property prices especially 5 marla residential plots which had gone down to 2 lac rupees.
Update: Bahria town has extended cancellation date up to 25th of December 2014, and a notice has been served. A copy of the notice is attached below:
We suggest that owners should clear their outstanding dues as soon as possible, since bahria town can take this extreme measure to cancel files especially of 5 marla plots which are in excess in the market. Cancellation will also help improve prices of 5 marla plots and help bahria adjust the number of files floating in the market which are in thousands at present.
You May Also Like...
2 Responses
hi
can you help me for my bahria town application
hi