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Malik Riaz clarifies 35% development charges imposed in Bahria Town Karachi

Real Estate News
28 Jan 2020
Malik Riaz clarifies 35% development charges imposed in Bahria Town Karachi

Malik Riaz clarifies 35% development charges imposed in Bahria Town Karachi

Karachi: Chairman Bahria Town, Malik Riaz appeared in a video shared on the official Facebook page of Bahria Town Karachi to clarify the reason behind the development charges imposed recently.

Recently, Bahria Town Karachi has imposed development charges of 35% and people were concerned over these charges. The outburst was quite loud on Twitter and other social media platforms and concerns were raised.

However, Malik Riaz, Chairman of Bahria Town, came forward explaining the reason behind these charges. Speaking in a video shared on the official Facebook page of Bahria Town Karachi, Malik Riaz himself explained the development charges. He explained that the development charges of 35% are being imposed on the price at which the property was purchased. The development charges are not imposed on the current rate of the property.

He continued by saying that the properties have increased in value but the development charges are being taken on the original value at which the properties were purchased. He also said that Bahria Town Karachi has every facility one would want in society including commercial zones, theme parks, schools, colleges, and more.

Recently, a building has been provided to Iqra University to set up a university at Bahria Town Karachi and Imtiaz Super Store, which is one of the largest superstores in the city, is also ready to open in the society.

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