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Bahria Town increases its offer for Karachi Superhighway project to Rs450b

March 13, 2019
 

Photo: Bahria Town/Facebook

Bahria Town has increased its offer for the 16,896-acre Karachi Superhighway project from Rs440 billion to Rs450 billion. 

The new proposal was submitted to the Supreme Court on Wednesday.

It has offered to pay Rs2.25 billion every month for five years. The remaining amount will be paid in three years, said Bahria Town’s lawyer Ali Zafar. He said that they are willing to keep the Danzoo (day and night zoo), parks and Cine Gold cinema as a guarantee for the payment.

The court reserved its verdict on Bahria Town’s proposal. It will be announced on March 21.

Related: Bahria Town wants an end to all inquiries against its management in return for Rs485b

Justice Azmat Saeed said that the court cannot suspend the ruling over the transfer of land. “You will have to pay the tax and government fee on it,” he said.

Bahria Town has asked for the complete legal immunity of its directors and management in return for its new offer. After the finalisation of the deal, all criminal and civil liabilities against its “directors (past and present), shareholders, management of BTPL and/or its associated entities shall cease to exist,” according to the proposal.

All “on-going inquiries, investigations by all agencies [NAB, FIA, FBR and anti-corruption] in said matters is said to be ceased/waived/discharged,” according to the proposal. It asks for the court to restrain investigating agencies from investigations against the management for “all times to come”.

The Malir Development Authority lawyer said that all cases against Sindh government officials relating to Bahria Town should be waived off too.

Justice Saeed told him that the court is finalising a deal with Bahria Town, not the Sindh government. “People should refrain from creating the impression that the court will accept the deal,” said the judge.

Related: ‘Time’s up to make deals’: Supreme Court judge not happy with Bahria Town’s Rs435b offer

On May 4, 2018 the court ruled that the Malir Development Authority illegally granted land to Bahria Town.

The Sindh government had allotted land to the MDA to build a housing scheme. The MDA, however, exchanged the land with Bahria Town, the court said. Bahria Town was even barred from selling any plots or apartment in the housing scheme. The top court has been hearing a case on the implementation of its verdict.

Bahria Town has made several proposals to get the land transferred to it. The court has rejected all the proposals so far.

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8 Comments

  1. Avatar
    Shahida jabbar   March 13, 2019 5:38 pm/ Reply

    Govt. Have to finalize as a lot of people money for booking home made full payment and waiting to move bahria town karachi, mostly people who came from abroad to live in peace are suffering and in tension if their booked house not deliver yet, for the sake of God SC must think and finalize soon this issue

  2. Avatar
    Sadaf   March 13, 2019 6:21 pm/ Reply

    It should at least be 3 times the amount that they are offering
    The price of land ,finishing of all enquiries against management and future security,they are asking too much for what they are offering.

  3. Avatar
    Imran   March 13, 2019 7:10 pm/ Reply

    If BTK spends on Malir Developement then court should have no objection, on contrary, DHA never spends a single penny

  4. Avatar
    Rizwan   March 14, 2019 1:01 pm/ Reply

    I think this over adventure will hamper the overseas investment coming in Pakistan, real state is only sector for overseas particularly bahria and DHA is trustworthy source of investment but court has shakan overseas trust for investing back. What was the real price before bahria investment at said disputed land. It was quite cheep. Court should wisely get money from malik riaz but do not make people assume to hold money with themselves

  5. Avatar
    M. Talha Siddiqui   March 14, 2019 2:45 pm/ Reply

    SC is requested to resume Bahria Town. Nothing exist on this land ever. However now its a new modern city. Now it’s People place and everyone should consider it.
    I wish SC could visit once to see what has been emerged in Pakistan.
    Resident.

  6. Avatar
    Fahad Adnan   March 15, 2019 8:42 am/ Reply

    Wrong judgement will become a big problem for the courts to encounter land grabbers in future. Supreme court must punish to criminals to make clean Pakistan. This nation is NOT FOR SALE or free of cost. Criminals should be hanged to discourage land grabbers .

  7. Avatar
    Saleemurehman   March 15, 2019 8:51 am/ Reply

    Why Bahria town Karachi plots cannot be leased by the govt??? Is court blind to rule out it’s verdict? Bahria town allotees should be given authority to leased out it’s plot as other societies of the country.

  8. Avatar
    Saeed   March 15, 2019 12:54 pm/ Reply

    I beleive court should take a decision on merit. The example must be set for the future. Next, the ideal solhtion should also offer releif to the public via ensuring their interest and establishing clear set of rules to be checked before making future decision.

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