Pakistan’s Supreme Court eventually accepted Rs’s offer from Bahria Town. 460 billion to solve one of the three cases related to the illegal occupation of land.
The senior judge of the Court of Apex, Justice Shaikh Azmat Saeed, who led the bank of three members, banned the National Liability Office (NAB) from filing a referral against real estate and the case was transferred to Record of the Karachi High Court for more information. minutes.
Supreme Court Accepted Settlement Offer From Bahria Town
Initially, providing Bahria Town to pay the amount is in violation of the illegal acquisition of 16,896 acres from the Super Highway in Karachi. This includes the Sports City project: the owners of the project’s plots will be reimbursed or merged into other projects.
Bahria Town will pay this amount in seven years, with an initial payment of Rs. 25 billion for August 27. The property giant will pay Rs. 2.5 billion a month for four years and the remaining amount over the next three years.
According to the court order, the money will be deposited into the account instituted by the High Court.
The High Court rejected Bahria Town’s request and declared that the land would be transferred to them once they paid the full amount. Residents will receive leases for 99 years.
On March 6, Bahria Town increased its offer to pay Rs. 405 billion in 9 years for the country of the Malir area of Karachi – the offer was rejected.
The order prevented Bahria Town selling any land or building in the housing scheme of Karachi apartments as land purchased at the development Authority Malir in exchange for private property was declared illegal and “ab initio void” was canceled.
At a previous trial, Judge Azmat Saeed observed that there were three separate statements against Bahria Town, so you should make an offer “separate and reasonable” for their projects in Karachi, Islamabad and Murree.
In other cases, the High Court ordered Malik Riaz to pay Rs. 1000 billion (Rs.1 billion) for the invading government countries in Islamabad at the fence of Margate Hills deforestation.