HomeBusinessWatch out! The Dangers of Housing Fraud Achi-News

Watch out! The Dangers of Housing Fraud Achi-News

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Achi news desk-

The history of Punjab’s illegal housing projects is one of theft, corruption and greed. Prominent participants in these regular scams are wealthy real estate developers who are allegedly backed by dishonest legislators and aided by a dishonest bureaucracy. Middle class people who want a permanent roof over their heads are the victims. Nevertheless, tens of thousands have lost billions of hard-earned rupees together, instead of realizing their dream of owning a home. According to a report filed by the Punjab Planning and Development Department with the Supreme Court, more than 1,100 private housing projects in 11 different districts of the province are unconstitutional due to lack of necessary permissions from relevant authorities. Stated differently, the promoters of these scams are prohibited from publicizing their “projects” that sell plots to gullible people. The majority of these plans only exist on paper; in fact, land is acquired for the housing society only by selling imaginary plots. It is falsely claimed that the necessary regulatory approval has been obtained in order to deceive potential buyers. There is no system in place or desire to stop them.

It is interesting to note that with the help of dishonest officials, sponsors of most schemes even get power connections from distribution companies. In addition to depriving ordinary people of their savings, a variety of real estate developers are destroying large tracts of productive farmland and orchards outside cities, leading to unplanned urban growth Does the government intend to take steps to stop the people behind these fraudulent projects, I wonder? We have seen promised action against these plans collapse even before it starts, for obvious reasons. If nothing is done, preparing these reports is a waste of time, money and effort.

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