In Pakistan, illegal housing schemes have become a pain in the neck for citizens who have lost their hard-earned money, and it still continues.
A media report citing a government document reveals that 69% of Pakistan’s societies are not registered with the relevant government department.
Out of 8,767 housing societies, 6,000 are not registered with the government. These illegal housing schemes are either incomplete or having bogus documents.
There are more than 4,000 cases registered against 500 such societies involving a PKR 300 billion fraud.
Although the government seems to have taken notice of illegal housing societies, they keep popping up like mushrooms. Interestingly most of these societies are eating away at agricultural land, which is also causing a shortage of food and contamination of drinking water.
If you are looking for a plot or a house in Lahore, make sure to check out the list of illegal housing schemes as declared by LDA to save precious investment. You can also have a look at the approved societies in Lahore.
The size of real estate market in Pakistan is estimated to be around PKR 15 to 20 trillion.
