Islamabad: Pakistan has more illegal housing associations than legal societies, as about 69 percent of housing associations in the country are not registered with government documents.
As stated by these documents, out of 8,767 housing associations, about 6,000 are not registered or accredited by the LDA. These 6,000 projects were built by producing false or incomplete documents.
Although the real estate market’s size is estimated at 15-20 trillion rupees, 2,767 houses are officially registered with the LDA.
Furthermore, more than 4,000 cases of fraud and corruption have already been filed against 500 Pakistani societies.
In September this year, Syed Zulfikar Bukhari, Special Assistant to the Prime Minister for Pakistani Foreign Affairs, announced a full-scale crackdown on illegal housing schemes involving deceiving expatriates.
Bukhari said the campaign aims to reach out to all illegal housing associations that sell properties to Pakistanis overseas through external channels, offering digital and overseas offices and false promises of investment opportunities.
