The year 2020 came with a shock for plot owners in Bahria Town Karachi as the real estate development company is demanding additional development charges from their customers.
As per their new policy plots will be charged with a 35% development charges over the initial booking price which will be payable in five year period through 20 installments starting from February 2020 till November 2024.
A letter was sent to all customers conveying a message that the facilities and mega projects in Bahria Town Karachi such as world 3rd Biggest Mosque, Pakistan’s Biggest Cricket Stadium, Day and Night Safari Park, International Schools, Hospitals, Bahria Adventure Land and similar projects are under construction or have been completed with the cooperation of their members.
The letter further said that from Feb 2020 development charges are being added in the original booking amount for wide roads, parks, mosques, footpath, water supply, gas and electricity. Customers were asked to pay these new charges as per the new schedule which will continue till the end of 2024.
This will be a huge revenue for Bahria Town Karachi, though the exact number of plot owners who will be affected by this new policy is not known but in 2016 it was reported by Dawn that at least 104,000 residential plots have been sold by Bahria Town Karachi. It includes plots from 125 sq yards to 500 sq yards.
If we assume 250 sq yards to be the average size of the plot then by imposing additional amount of Rs. 980,000/plot means Bahria Town will receive an additional payment of Rs. 101.9 Billion from residential plot owners.
As the number of residential and commercial plots sold have increased in later years, it is expected that the real amount will be even greater than Rs. 101.9 Billion.
The new development cost generated uproar among the plot owners of Bahria Town who mostly belong to Middle Class families for whom the new charges are a huge burden.
On social media people started making complaints regarding the issue and raised many objections asking is it legally and ethically right to impose additional charges on booking amount or why money for development is being asked for those precincts where development have been completed?
As the land will be leased by Malir Development Authority (MDA) after complete settlement between Supreme Court & Bahria Town, it is also being asked can they force members to take possession for the land which they don’t own yet.