Money stuck in property....

[sinnersaint]

Is there some kind of association or something else where people can get help to get their money back if they booked an apartment wagera and the builder is not building? One of my relative booked a property and was paying the monthly installments wagera but even after the said time of possession (been years now), there is no work done. The property is in Karachi.

 

[bababango]

sorry to hear that , until unless your property developer is very repute , like bahria etc , dont invest rather save at your account and keep looking for a smaller house or flat , and keep saving until you get your next hop

sorry its a long way but this is the correct way , buy and sell hop and hop it works every where in world , but play on already build property its far more assure


and in our beloved country this is a harsh reality to play game like this , because of frauds mis representations etc.

by the way same situation happened to my self but luckily i managed to sold both properties with help of my uncle i cannot sell it by my self.

rgds

 

[WajieRaja]

Is there anything in the purchase agreement about completion? If yes, then you can sue.

 

[Hooman]

It depends on builder ne ap ko bola kia he?

 

[bababango]

Is there anything in the purchase agreement about completion? If yes, then you can sue.

in pakistan this option is a little weaker i believe

 

[sinnersaint]

Is there anything in the purchase agreement about completion? If yes, then you can sue.

Brother the person is in Karachi and am sure you know the justice system of Pakistan...

 

[sinnersaint]

sorry to hear that , until unless your property developer is very repute , like bahria etc , dont invest rather save at your account and keep looking for a smaller house or flat , and keep saving until you get your next hop

sorry its a long way but this is the correct way , buy and sell hop and hop it works every where in world , but play on already build property its far more assure


and in our beloved country this is a harsh reality to play game like this , because of frauds mis representations etc.

by the way same situation happened to my self but luckily i managed to sold both properties with help of my uncle i cannot sell it by my self.

rgds

Is your uncle in army? [emoji39]

 

[bababango]

lolz no brother he was in property business for long time so he used his connections. by the way living good in karachi require strong power play other wise gorment tu bik chuki hay

 

[Hooman]

There are laws that you cant keep taking money from people without any progress on the project, if you know any good civil eng. or anyone in KDA then you can use their help, report the developer/builder to audit department, my dad was talking about a case like this and he was able to get someone their money back, you have to force them to give you your money back, wreck havoc in the builder/developer's office and threaten them and def go to KDA.

 

[WAQAS ADEEM]

Hoping to get justice in our country Pakistan is just a ridiculous joke. Here only strong " links " works as stated in above posts.

 

[assasin42o]

I've worked with builders, and trust me, unless they're VERY renowned who actually care about their image (DHA/Bahria), do not invest in them until your grey structure is already built. I've seen families visiting our offices at times crying, to either refund their money, or give possession to them. These guys (Developers) have hired lawyers in case someone takes them to courts, grease everyone from authorities, and virtually you just can't beat them. Atleast this is what the case is in Karachi.

The only option your uncle has is to just wait.

 

[sinnersaint]

There are laws that you cant keep taking money from people without any progress on the project, if you know any good civil eng. or anyone in KDA then you can use their help, report the developer/builder to audit department, my dad was talking about a case like this and he was able to get someone their money back, you have to force them to give you your money back, wreck havoc in the builder/developer's office and threaten them and def go to KDA.

Whoever will solve the problem would want their share Bro, even the builder is saying they will deduct 15-20% and return the money which is quite a lot. The builder has even closed their office as far as i've been told....