In the current scenario, where established housing societies and prime real estate projects lurk around the new tax regime, things don’t look well for DHA Valley either. Not just that there is a rather stark drop in the demand for DHA Valley plots, the pace of development work, which appeared pretty impressive back in May and June 2016, has also slowed down.
Although construction machinery belonging to Bahria Town can still be seen in different blocks of the Valley, only a few machines are in use by the limited workforce busy at a few sites. Other than that, the media is completely silent. The declining pace of development work suggests that DHA Valley once again requires supervision and inspection from the departments that actually hold the power to find appropriate solutions. Does this mean that the developer no longer cares to deliver this project?
Discussing DHA Valley will always require a reference to the past. When launched in 2008, the developer committed to deliver the project in four to five years and today, after 8 years of the launch, there are massive issues delaying the completion of DHA Expressway – the main road for DHA Valley. Furthermore, DHA Valley still isn’t close to announcing a proper ballot any time soon.
To me it appears that the media campaign held some months ago to promote development work in DHA Valley was perhaps aimed at dealing with the backlash from investors. My opinion is based on the fact that Bahria Town hasn’t shared any details on what it plans to do with the applicants who applied for alternate plots in Bahria Town in Karachi and Rawalpindi. Furthermore, I haven’t been able to find out why the developer first promised to offer possession of DHA Homes in December 2015 when today, almost one year later, it still doesn’t seem serious about it.
What about that helpline where DHA Valley representatives, who give an impression of running this facility from a proper DHA office, never have any concrete information about the development status and expected possession time frame of the project? I have a series of questions to ask and have almost no valid source to contact. Well, most of the people officially attached to DHA Valley claim to be employees of DHA, not Bahria Town, while the latter is bound by contract to complete and deliver the project.
The rumours about the bounced PKR 54 billion cheque given by Malik Riaz to DHA as compensation for the delayed DHA Valley project add insult to injury. Who will explain this? You would also be surprised to know that Malik Riaz – who usually makes sure that his generous philanthropic acts don’t go unnoticed – inaugurated a masjid in Lilly Block a couple of weeks ago without relaying this information to media or on related forums.
You will not get details of this inauguration on the official Facebook page of DHA Valley, which is apparently run by the officials of DHA. Moreover, Riaz’s Twitter account also says nothing about this inauguration ceremony, for which, he, reportedly, flew in by helicopter.
DHA Valley has been a sheer disappointment for investors and also for those who believed that the project is soon to witness some major developments. Count me in the list. Who will protect the rights of the investors who usually face heavy surcharges for delaying instalments? Who will protect the rights of almost 40,000 people who invested in DHA Valley? We need an answer to this!
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