Finally, the much-awaited decision regarding Bahria town has been announced by the Supreme court of Pakistan.
To settle the case of illegal occupation of land, Supreme court of Pakistan has finally accepted Bahria Town’s offer of Rs. 460 billion.
As per unofficial information, Bahria Town has to pay this huge amount against the illegal acquisition of 16,896 acres off Karachi’s Super Highway. This excludes its Sports City project – the owners of the plots in the Sports City Project will be reimbursed or merged into any other project(s).
This hefty amount will be paid by Bahria Town in (7) seven years. A down payment of Rs. 25 billion will be made by August 27. The giant of the real estate industry will be paying Rs. 2.5 billion every month for (4) four years and the remaining amount in the next (3) three years.
This sum will be deposited in the Bank account set up by the Supreme Court.
The apex court of Pakistan rejected Bahria Town’s request and stated that the land would be transferred to them once they will pay the amount in full. All the affected residents of Bahria town will be given 99-year leases.
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