Uzma Khanum Acquired 5261 Kanal Govt land at throw-away prices

[FOOLS_NIGHTMARE]

Source is SAMAA TV it must be true

As per the records in the land registry.

 

[RoadRunner401]

As per the records in the land registry.

FANTASTIC, TAKE IT TO COURTS AND TELL THEM IK SISTER BOUGHT AND REGISTERED THE LAND, SHE MUST BE CHARGED, RIGHT WAY IS TO TAKE IT FOR FREE JUST ASK ALEEM KHAN.



The Supreme Court resumes on June 7 hearing on a case against the housing scheme of a prominent leader of Pakistan Tehreek-e-Insaf (PTI) against whom it had restrained the Federal Investigation Agency (FIA) in August 2013 to proceed further.

The matter pertains to the sale of hundreds of plots to the Employees’ Old Age Benefit Institution (EOBI) by the Vision Developers of Aleem Khan for Rs2.6 billion when the organisation was headed by Zafar Iqbal Gondal during the previous Pakistan People’s Party (PPP) government. Since 2013, the FIA has not been able to carry out probe against the housing society, documents available with The News show.

While Aleem Khan has expressed his willingness to return the money to the EOBI and get his properties back, an independent evaluator appointed by the apex court has put the value of these properties to Rs1.041 billion, which is less than half of the amount the EOBI had paid five years back.

“He” (lawyer for the Vision Developers) “also brought to our notice lodging of two FIRs No 53 & 54 of 2013 as on the basis of these FIRs, the management of Vision Developers (Pvt) Limited is being harassed by FIA authorities.

Keeping in view his submission, the FIA authorities are directed not to take any further action against the management of the Vision Developers on the basis of these FIRs till the next date of hearing.

This order will, however, not debar any aggrieved party from seeking legal redress before any appropriate forum,” the court order issued by a three-member bench had said. The lawyer had contended that two transactions, amounting to Rs2.6 billion, were entered into between his client and EOBI, - one in June 2012 and second in February 2013. In case now EOBI is not interested in retaining these two properties, his client is ready to make immediate payment of Rs600 million to them while remaining balance will also be paid to them upon release of these properties so that thereafter they may sell them to some other prospective buyer to liquidate their assets for further payment, he stated.

Meanwhile, in separate letters, the Lahore Development Authority (LDA) has asked the Lahore Electric Supply Company, Sui Northern Gas Pipelines Limited and Water & Sanitation Agency of Lahore not to provide their facilities to the Park View Villas and River Edge Housing Scheme of the Vision Developers as the projects were illegal for not having been permitted by it.

The EOBI has requested the Supreme Court that since the Vision Developers are liable to make good the loss suffered by the organization, it may direct the company to pay a sum of Rs3.699.7 billion plus additional interest at the rate of 13.931% payable up to the date of receipt of the amount by the EOBI.

The court had appointed evaluators from the list of the State Bank of Pakistan to assess the actual price of the properties, purchased by the EOBI from Vision Developers, on the date of purchase and the existing value.

M/S Iqbal A. Nanjee, which was nominated to evaluate 226 commercial plots located in River Edge Housing Scheme (Park View Villas) and 742 residential plots in River Edge Housing Scheme, opined that the market value of these properties is Rs1.041.16 billion and that EOBI has suffered a loss of Rs1.559 billion.

After the evaluators’ report, the EOBI filed objections in the court stating that the property purchased by the former EOBI management was defective and the LDA has not accorded its approval for the development of housing society. Further, the property was purchased on exorbitant rate and still the price of land is below the purchased price. Therefore the sellers may be ordered to pay back the amount with interest.

“It reflects from the report that the evaluator M/s. Iqbal A. Nanjee has not stated the value at the time of purchase. However, the current value of the property has been put at Rs1.041.16 billion. Thus, even after three years of purchase and massive appreciation in the property market during this period, the current value of instant property is Rs1.559 million less than the price at which the properties were purchased by the EOBI,” the EOBI told the apex court.

It also said that as reported by the evaluator, Vision Developers planned 3 blocks i.e. Rose, Tulip & Gold under the umbrella of purposed Park View Villa which are presently in the shape of green fields. The request of Vision Developers for approval of site plan of these 152 acres additional land for these 3 blocks was rejected by the LDA. As per the evaluation report, the senior management of Vision Developer also went to the supervisory authority of LDA against the negation of their approval but the rejection decision still stands and there is no chance in near future that the same will be approved by LDA, the EOBI held the view.

The EOBI has told the National Assembly Standing Committee on Overseas Pakistanis that there are specific directions from the apex court not to act against Aleem Khan despite the registration of FIRs. However, the committee directed the EOBI to actively pursue the court cases for early realisation of the money misappropriated on account of purchase of properties at exorbitant rates.

The committee was informed that there were two cases against Vision Developers. One relates to non-development of commercial plots in River Edge Housing Scheme. The company had to develop and deliver 226 plots of different sizes to the EOBI, but the land remains undeveloped. The second case pertained to non-development of 742 residential plots in another housing scheme in Lahore.

“The company has been paid Rs2.6 billion, but since it has not developed the land and delivered the plots to the EOBI, the case is still in the Supreme Court and its hearing is awaited,” the EOBI chief had told the committee.

 

[Abdul Rehman Majeed]

So start legal proceedings. I guess they will start Twitter trend and run the news on channels but no legal action will be taken. I wonder why that is? Can you educate me on the reason @FOOLS_NIGHTMARE

No action because IK has powerful jewish lobby behind him.

samma a name you can trust

You can't wake up a person who is pretending to sleep.

 

[FOOLS_NIGHTMARE]

FANTASTIC, TAKE IT TO COURTS AND TELL THEM IK SISTER BOUGHT AND REGISTERED THE LAND, SHE MUST BE CHARGED,

The Punjab Anti Crime Agency made cases against many accused. The current Govt removed them all.

 

[On the Edge]

youthias are brain dead people, the dont want to even consider the possibility that there might be something wrong with imran khan. This disease is a curse on our nation.

 

[DESERT FIGHTER]

Are you comparing Model Town with Nawan Kot on DG Khan? Seriously? You can't get a 1 kanal plot in F6 Islamabad for 20 crore...hun das.

Jao zara zameen par, agr Nawan Kot ki property price nikal ayi to I will leave this forum.

Just did a rough calculation, 13 crore for 5261 kanal comes out to be around 25000 per kanal. For a rural region in the middle of a desert, this seems about right.

During the timeline mentioned in the news report, 1 kanal was being sold for 200,000 in Chakri, right next to the motorway with irrigation, arable land, and proper carpeted road access (with all the shebang courtesy of a general saab!).

Use your grey matter man!

Actually it doesnt.
Nawan kot is near Chowk Azam, Layyah . Ive been there several times. Have relations with local Magsis who are also into politics.

Yes its arid and desert but not barren, its barrani raqba where chickpeas mostly grow thanks to rain. Even the shittiest land per acre would cost around 2 lakh per acre.. and these prices are years old.

The land is fertile and people there are growing crops and orchards on subsidised solar plants.

Thal canal was proposed by musharaf and has been in a limbo. The lands near the proposed canal are much more costly.

 

[AZADPAKISTAN2009]

Unsure what is the problem

 

[RealNapster]

For 5261 Kanals 13 crore looks very cheap from all angles, does not need any explanation. One can confirm the property value from any property portal, Zameen.com etc. With 13 crore one cannot even get a two Kanal plot in Model Town.

I agree. 1300 per marla is impossible for lands in Punjab.

 

[AZADPAKISTAN2009]

Seems like a proper purchase to me

 

[Jamie Brooks]

When any aligation of corruption is made aginst PTI
Le Imrandos: This can’t be true, our messiah is the last hope for humanity. You must be patwari…

And the retard cycle continues

 

[xyxmt]

Take'em to court Bitch!!