LAHORE, July 18: High land and construction costs and neglect of the housing sector is leading to the growth of slums and katchi abadis. This was stated by Punjab Housing and Urban Development Minister Syed Raza Ali Gilani while delivering a keynote address at a seminar on ‘Investment opportunities in real estate sector’ on Monday. The minister said the construction of houses had become impossible for the middle and low-income group. He said the Punjab had a shortfall of 2.494 million housing units, increasing by an average 0.157 units annually.

He said the public sector was not in a position to meet the housing requirements because most of the state land had already been utilized, and it lacked resources to acquire land at market prices for the purpose in accordance with the government policy.

Criminals, he said, were taking undue advantage of the housing shortage and depriving people of their hard-earned money by launching bogus housing schemes.

He said the Punjab Housing and Town Planning Agency had been constituted for regulating the affairs of housing schemes and taking action against sponsors of bogus schemes.

The agency had been directed to keep an eye on advertisements of housing schemes and proceed against those advertising fake schemes. He said those launching such schemes would he handed over to the NAB for further action.

The minister advised the people not to be misled by fancy advertisements, and not only the site of the scheme should be visited before purchasing or booking of a plot or a house but the ownership of sponsors should also be verified.