Bahria to Build Naya Pakistan Houses

Bahria Town proposed a plan to build 5000 apartments under Naya Pakistan Housing Scheme.

The Naya Pakistan Housing Scheme, a housing initiative led by the Pakistani government that was created to help the country's homeless population, boost economic development, and provide work opportunities for the youth has faced a new development. At present Bahria Town's real estate company has been proposed to construct 5000 apartments in Bahria Town Karachi and Islamabad.

Previously Bahria town was asked by the Supreme Court to pay Rs460bn for the Malir Development Authority’s land. In Dec 2020 Bahria Town filed an appeal for a modification in the arrangement due to pandemic situations.

The government will be supporting Bahria Town Karachi in the delays in payments plea in Supreme Court. In response, Bahria Town Karachi will be constructing 3000 Apartments in Bahria Town Karachi and 2000 apartments in Bahria Town Islamabad.

The continued discourse between the state and Bahria Town had officially been concluded in April 2019. As the Supreme Court has accepted Bahria Town’s proposal of 460 billion in the Bahria Town Karachi’s case. Bahria town was supposed to pay Rs460 billion for the Malir Development Authority’s land in Karachi.

However, due to the ongoing pandemic situation, the real estate business at large is facing a great extent of problems.

Bahria town submitted a request to the Supreme Court to make adjustments in the discourse. Keeping the circumstances of the pandemic in mind the request has been made to the supreme court by Bahria town, and offered to the Naya Pakistan Housing Authority for the construction of 5000 apartments.

The whole arrangement began when Bahria Town filed an appeal claiming that the current situation is impacting Bahria Town’s franchise at large. Bahria Town has to earn nearly 100 million daily in order to pay an installment of 2.5 billion. Bahria Town has over 600,000 members.

With too many obstacles, catering acres of land is almost impossible. One of the reasons why Bahria Town's legal team has decided to file an appeal for a modification in the previous agreement is because of this. The land will be transferred to Bahria town as soon as they are down with their installment obligations.

CONCLUSION

It is expected that the building process will begin soon now that it has been proposed to the supreme court. The plan of the apartment is still under consideration and yet to be finalized. There has been surety after the government support in court Bahria town will get delay of payment till sept 2023. Also, all the authorities involved in the previous agreement will be informed about this decision and will be asked to cooperate with Bahria Town. Additionally, it seems the biggest real estate firm will get a benefit after a long struggle has finally concluded. Investors will soon be seen in motion.