Private Housing Society to Compensate Affected Individuals

A settlement has been reached between a private housing society and the National Accountability Bureau (NAB) in Rawalpindi. This resolution entails the distribution of PKR 600 million among the parties affected, and this distribution expected to take place soon, according to the news reported on October 23.

The spokesperson from the NAB has conveyed that Accountability Court-1 has granted approval for the plea agreement without any objections.

Read: State Bank Of Pakistan Surpasses Initial Target In T-Bill Auction

A group of 1,019 individuals invested significant amounts to purchase plots in the private housing society. However, they did not receive the promised plots. As per a representative from the NAB, the affected parties will soon receive the funds that have recovered.

Moreover, the RDA initiated an extensive crackdown on unauthorized housing societies. It also led to the removal of encroachments and unauthorized structures in 11 separate communities.

Read: RDA Inaugurates Two New RO Plants To Ensure The Provision Of Clean Drinking Water

Additionally, as per the RDA, out of the 484 housing societies in the garrison city, 336 are operating without the necessary legal documentation from the regulatory authority, rendering them unlawful.

For further inquiry, stay tuned with RBS Real Estate and Builders.

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