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Hina Mahgul Rind
Friday, November 01, 2013
From Print Edition
 
 

 

KARACHI: After launching several housing projects in Karachi, Bahria Town will introduce projects in interior Sindh, including Benazirabad (Nawabshah), Sukkur and Hyderabad.

 

“Bahria Town is already working on this plan,” said Zain Malik, director at Bahria Town, while addressing Bahria Town Reception hosted by Defence and Clifton Association of Real Estate Agents.

 

Malik said that Bahria Town has introduced their latest development in Karachi and have engaged their clients in the registration process. Interestingly, the response from the people of Karachi has been encouraging as a large number of people registered themselves.

 

He did not, however, share the location and details of Bahria Town Karachi, which is for the middle income group, adding that a file opening session will take place from November 4 for the verification of members in order to avoid discrepancies and make the project transparent.

 

“Karachi faces a shortage of 1.3 million houses and this gap needs to be filled by Bahria Town in Karachi,” said Nasir Jamal, general secretary at Defence and Clifton Association of Real Estate Agents. “It is hoped that Bahria Town will address at least 50 percent of the housing shortages in Karachi.”

 

Several housing societies already exist in the city, but there is another addition in the form of Bahria Town.

 

Shafi Jakvani, vice president of Defence and Clifton Association of Real Estate Agents, said that quite interestingly a large number of people have registered themselves as members, without knowing the exact location of the project.

 

He added that even after the closure of Conservation Reserve Program, people are ready to buy those registration slips with extra money. “Currently, the slips are being traded for twice as much as the original price and the prices will escalate further.”

 

For those who fail to buy a property in Bahria Town, they will receive their registration fee back after the deduction of a certain amount, he said.