In a bid to curb property fraud through the file system, the Ravi Urban Development Authority (RUDA) has taken a commendable step by implementing a security paper allotment system. This policy will apply to all 120 housing societies approved under RUDA, which will be required to replace their existing allotment letters with security allotment paper issued by RUDA by the 30th of November, 2024.
This policy aims to make property transactions more transparent and secure by preventing overselling and fake allotments. The security allotment paper system will create a centralized document verification process that will enhance security and eliminate fraud risks. RUDA will also establish a facilitation center to streamline the verification process.
The general public is advised to obtain the security allotment paper when purchasing any property or plot in any RUDA-approved housing society. This practice will help eliminate the file system, a major cause of property fraud. Any allotment letter not issued on RUDA security paper will be invalid and unacceptable for transfers.
RUDA’s initiative is indeed a commendable step toward ensuring risk-free property transactions and should be adopted by other major development authorities, such as RDA, CDA, PDA, FDA, SBCA, KDA, and LDA.
Below is the official advertisement regarding this development:
Further details of this development have been published in Daily Dawn, dated November 10, 2024. We have attached a screenshot of the news below:
