ISLAMABAD: The property known as Bilawal House in Lahore is currently in the name of Bahria Town, a spokesperson for the housing society clarified on Sunday.
In a statement issued apropos a news item titled, ‘Who owns Lahore’s Bilawal House’, published in this newspaper on May 10, the Bahria Town spokesperson stated: “Bahria Town has [until] now only received an amount of Rs170 million, against a total value of Rs0.49 billion for the said property.
Also read: Who owns Lahore’s Bilawal House?
“Property transfer procedure through sale deed can only be executed after receiving balance payment. Therefore, currently the property is in the name of Bahria Town.”
The statement further said: “We follow all rules and regulations and as per the Securities and Exchange of Pakistan rules, we cannot give any property as a gift or free to anyone.”
Published in Dawn, May 11th, 2015