AZADPAKISTAN2009
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- Sep 8, 2009
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Let me summarize the problem
a) Bahria Town , a company bought Land ownership from another company MDA who were authorized for usage of land and construction work on it. This authorization was approved for by Sindh Government . MDA were in their rights to sell it in a company to company transaction based on the then acceptable prices. Which were low because no builder or public person was interested in owning a plot, villa or land in middle of no where away from Karachi city
b) Bahria Town legally aquired the land and then did marketing and construction and People were impressed by the work done and they deposited money to own land in Bahria Town Karachi. Bahria Town thus did the proper work to buy land.
c) Supreme Court / NAB realized late that the land may have greater value and this demanded taxation based on the value or property Bahria Town is selling
d) Supreme court calculated the value of Property to be sold (30 Billion Dollars) and then they charged 15% tax for state of Pakistan which comes to about 5 Billion Dollar. Bahria Town made no objection to this amount. They asked a payment structure to pay this fund in installments as money comes from plots/condo and property sold to customers
Professional Builder
Land Mafia :
Here you see illegal slum constructions beside railway tracks
All these buildings around Empress Market for example 100% illegal
Cleanup of Empress building after 50 years
a) Bahria Town , a company bought Land ownership from another company MDA who were authorized for usage of land and construction work on it. This authorization was approved for by Sindh Government . MDA were in their rights to sell it in a company to company transaction based on the then acceptable prices. Which were low because no builder or public person was interested in owning a plot, villa or land in middle of no where away from Karachi city
b) Bahria Town legally aquired the land and then did marketing and construction and People were impressed by the work done and they deposited money to own land in Bahria Town Karachi. Bahria Town thus did the proper work to buy land.
c) Supreme Court / NAB realized late that the land may have greater value and this demanded taxation based on the value or property Bahria Town is selling
d) Supreme court calculated the value of Property to be sold (30 Billion Dollars) and then they charged 15% tax for state of Pakistan which comes to about 5 Billion Dollar. Bahria Town made no objection to this amount. They asked a payment structure to pay this fund in installments as money comes from plots/condo and property sold to customers
Professional Builder
Land Mafia :
- Illegal construction , and not owning land
- Illegally surrounding a legitimate city building with illegal unauthorized construction
Here you see illegal slum constructions beside railway tracks
All these buildings around Empress Market for example 100% illegal
Cleanup of Empress building after 50 years
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