KCCI Speaks Up for Buyers and Investors of Bahria Town Karachi
Karachi: The acting president Karachi Chamber of Commerce & Industry (KCCI) Arshad Islam and Chairman Karachi Chamber’s Housing, Construction & Real Estate Subcommittee Asif Sumsum have clearly mentioned that any issue pertaining to additional development charges or irregularities in Bahria Town Karachi have to be resolved as it is not only a matter of the relevant real estate agents and investors but thousands of people who have invested their money in the project to own a home.
Speaking at the first meeting of Housing, Construction & Real Estate Subcommittee, Acting President KCCI Arshad Islam and Asif Sumsum said that the management of Bahria Town must act sensibly and they must prudently tackle the situation otherwise the project would turn into a major scam that is neither in the favor of Bahria Town nor the real estate stakeholders including agents, investors, and buyers.
Recently, Bahria Town Karachi has imposed as much as 35% development charges on properties. To address the concerns of the buyers, Chairman Bahria Town Malik Riaz took to the official page and clarified the move through a video message and said that the charges were imposed on the actual value of the properties and not on the market value that has been increased by as much as twice and thrice.