March 20, 2007	Tuesday	Safar 30, 1428

ISLAMABAD, March 19: The National Accountability Bureau (NAB) has warned general public to observe utmost caution while making investment in housing schemes to avoid chances of possible deceit and save their hard-earned money.

As part of awareness plan, the bureau on Monday issued a comprehensive guideline for the general public to stay them away from fraudulent dealing in the housing sector as investigations had already been launched against various fake housing schemes.

These investigations were initiated on receipt of large number of complaints.

According to the guidelines, the general public has been asked not to pay heed to misleading advertisements/publicity campaign and physically examine the location of any proposed housing scheme, available land and the number of residential and commercial plots.

Those who are desirous of getting plots should check the registration and NOC for detailed layout plan issued by concerned Development Authorities i.e. CDA, RDA, LDA, TMA or Circle registrar Cooperatives to the housing schemes.

As far the private builders, developers or construction companies are concerned, its registration and proper approval from the Securities and Exchange Commission of Pakistan (SECP) is mandatory for collecting amounts for housing scheme.

Moreover, the applicants must confirm that the company has acquired and taken possession of land, houses, flats and these have been fully developed before publication of advertisement.

While examining the file of a plot, exact plot number, street number, sector, phase number and development charges etc., of the scheme are clearly mentioned and a proper development schedule/completion date is provided as knowledge and vigilance is the best way to stay away from frauds, says the guideline.

The NAB has also asked the general public to submit their complaints along with documentary evidence for initiating proper probe against fake housing schemes.—APP