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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
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Comments (16) Closed
May 11, 2015 08:32am
LOL !!!!!
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May 11, 2015 08:35am
Brave reporting by DAWN... !
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May 11, 2015 08:39am
But you give possession of the property without taking full payment. Please can you allotte one small bungalow to me also with 10% down money ? How stupid you think this nation has all illiterate! They are all the same just one big group looting and making fool the nation.
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May 11, 2015 09:22am
Oh so this means that it is not paid for yet.
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May 11, 2015 09:23am
So if it is not fully paid for then why build on it.
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May 11, 2015 10:17am
Bilawal House remains in the name of Bahria Town until fully paid. Perhaps the management will explain how long a period of balance outstanding allowed to continue
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May 11, 2015 10:20am
There must be a mechanism/law, for all housing society , when selling such expensive land/houses must take undertaking from the buyer that the money is legal/white/. e.g in this case when Rs.170 million were taken. and submit it with relevant author y (e.g FBR) at the time of transaction.
This will have. benefits e.g.1. source of money, and later avoid this type of quires 2. Control money laundering and black/illegal money. Most of this illegal money currently going into housing societies and a source of funding for land Mafia, property prices have gone up over the last 10 years and even middle class people cant effort to have a nice house. By doing legal way,property business will eventually grow, leading to more revenue for FBR /Government. Real buyers will actually bring down value of land, and people can effort to buy a house of their own
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May 11, 2015 10:39am
There is always an exit route for corrupt politicians............
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May 11, 2015 10:40am
I wonder what this will lead to in the midst of so many things related to PPP or Asif Zardri.
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May 11, 2015 10:51am
Liars. If Bahria Town owns this property, why is it called "Bilawal House", specially when everyone knows that Bilawal House in Karachi belongs to Zardari?
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May 11, 2015 11:47am
Come on Malik Riaz . Save your reputation, whatever is left of it , and convert it into a school or college for the poor .
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May 11, 2015 12:22pm
Bahria Town has not transferred property in any one's name because only part payment has been received. !! Well said,very well said !!! But then how and why allowed the said property to be named as Bilawal House ...and why allowed any one to occupy till full payment is received ? And why not objected to AZ spokesman's claims about ownership of this property ? And why BT is so especial / lenient in not pressing for full payment ? Does BT normally allow possession without full payment ? For how long does it normally wait for payment even after allowing possession ? What is the prescribed time period after which BT takes repossession of its property in case of non payment of the remaining amount ?
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May 11, 2015 01:00pm
If full payment has not yet been received by Bahria Town, why have they handed over possession? FBR should also investigate how much was paid for Karachi's Bilawal House complex (said to consist of over forty bungalows). Was the plot legitimately acquired, or was it illegally occupied? Who was the seller and was he paid the market value?
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May 11, 2015 01:13pm
@Mushtafa You are absolutely right
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May 11, 2015 02:48pm
The question raised was not about the legal status of the House but the real owner, in whose name the property will be transferred after full payment.
The news item had also raised another vital issue, i.e. How Zardari Group Ltd with a small capital could buy Bilawal House? It had also questioned the valuation of the property. Bahria Town's clarification has not answered any of the above questions.
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May 11, 2015 03:12pm
Bahria town logo looks like ISIS
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