A colossal Housing Scam has been uncovered in the twin cities of Rawalpindi and Islamabad, where private housing schemes and cooperative societies sold more than 90,000 plots of land that did not exist. The scandal, revealed by the National Accountability Bureau (NAB), has defrauded thousands of citizens out of their life savings.
According to NAB, these fraudulent projects advertised fake land banks and issued thousands of memberships for land they never owned or had in much smaller quantities than advertised. They collected billions of rupees from unsuspecting individuals who invested their hard-earned money in the dream of owning a home.
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The Scale of the Deception
Investigations have exposed the staggering scale of the scam. Reports indicate that over 91,000 membership files were sold, far exceeding the actual, legally approved land available.
In some of the most egregious cases, certain housing schemes were found to have marketed up to 80,000 kanals of land they never possessed. This deliberate over-selling has left tens of thousands of people holding worthless paperwork for plots that are nothing more than lines on a fraudulent map.
The Human Cost
The victims of this sophisticated scam are not just numbers; they are government employees, retirees, and families who invested their entire life savings. Many have been left in financial ruin, having trusted these seemingly legitimate housing projects with their future security.
NAB is actively investigating the matter, but the incident serves as a stark warning for all potential real estate investors to exercise extreme caution and conduct thorough due diligence before investing in any housing scheme.
Frequently Asked Questions (FAQs)
1. How many people were affected by this housing scam?
The scam involved over 90,000 plots, meaning tens of thousands of individuals and families have been affected, many of whom have lost their life savings.
2. How did the scam operate?
Fraudulent housing schemes advertised land they did not own, sold memberships and files far beyond their actual land holdings, and collected payments for non-existent plots.
3. What should I do if I think I am a victim?
If you suspect you are a victim, you should immediately gather all your documents (payment receipts, membership files, etc.) and file a formal complaint with the National Accountability Bureau (NAB).
4. How can I avoid such scams in the future?
Always verify the legal status and No-Objection Certificates (NOCs) of a housing scheme from the relevant development authority (e.g., RDA, CDA). Never invest based on glossy advertisements alone, and physically visit the site and consult with a reputable legal advisor before making any payment.
