As there is news roaming around that, bank accounts of university town rwp is freezes by National Accountability Beauru (NAB). Dated 4th june 2017, can any body advise or suggest what is really going to happen with all aloties payment and plots,
Hope this action of NAB doesn’t make the plot holders suffer!
Lagtaa Hai Ganjoon Ki Raal Tapak Pari Hai Airport wali societies par.
First Top-City and now University Town.
Agreed Khan Sahib, may the plot owners not suffer from any loss.
@Imran Hussain: Already project delayed hy, ab aur delay hoga in development.
Regards
I have talked with unitown manegment, they have given the hop that , no development work will be stopped, this will not effect current aloties, basically NAB had raided with out any notification, on the complaints of Old aloties, whome were having issues of not giving possessions in time, (these 30 to 35 complainants had not paid pending dues due to which there possessions were delayed). Manegment and MR Aziz by him self had a detail meeting with NAB and submitted their details regarding this issue, and they hope issue will be resolved soon,
Let see what happens?
Last Month I have visited society area, and was impressed that they are no serious in development, and increased speed, and they are working to get main road link from Kashmir High Way, which they say will be connected soon after the opening o Airport and Metro Track, Over all things were looking good, but in the beginning of June 2017, bad news appeared, that NAB had take action against this society,
So Request every one, if Any one get any +ve / -ve news regarding University Town Rwp Society, Please update,
Thanks and will be awaiting for All the Guru`s response.
Imran sb, you are right, they have acquired more land and after the whole wake of Zone-II, they were also gearing up for last push... However, suddenly things have gone in the wrong direction. Lets hope for the best.
Regards
Obviously it will affect the project and fall in prices
@ Mr. Khan,
what is your opinion about investment at this stage
Regards
Sources confirmed that 171 former allot-tees whose membership was canceled due to non payments of dues in the early years of booking. They filed the case in Supreme Court after they lost the case in HC and other lower courts. The SC refereed the case to NAB for inquiry. UT legal advisor few days ago appeared in front of NAB and present all the relevant documents and said UT Chief Executive is out of Country for Umrah, as soon as he returns he will appear before the NAB.NAB somewhat satisfied and ordered to unfreeze their accounts and allowed to continue work till UT CEO appears before NAB after Ramadan.
@ImranHussain Can you pls confirm from where actually they r trying to connect from Kashmir Highway?
@siddiqui sir as per UT statmnet they r trying to get link with Service road or Kashmir Highway which will b from B&D block main double road of UT
@ Anas sb: NO
Nab recently published a public notice against university town, also freezed their bank account and asking to public for filing the complaint or claim against UT. What is that issue, is it not an approved housing society, how much will it effect the UT members?
Their is no doubt that is approved from RDA as well as other relevant departments. Can you pls share the link to the public notice.
Notice was given on 4th of June in Jang on page number 18 and Nawaiwaqt Page 5.
Danish sb, you are right, it will certainly create doubts in the potential new entrants for investment in UT.
Regards
Further to my earlier response, note that University Town has already got NOCs (No Objection Certificate) from all relevant authorities e.g. RDA (Rawalpindi Development Authority), PAF (Pakistan Air Force), CAA (Civil Aviation Authority), Environment Department etc.
You can view/download these NOCs from official website of University Town i.e. www.universitytown.com.pk
There should be no worries for University Town (UT) allottees/investors at all.
As per my information, the society (i.e. UT Management) had applied Additional Development Charges (ADC) to some of their bonafide members. As part of this process, the society had informed to these members to pay-off the ADC else their registration of the plot(s) might be cancelled. The society sent three reminder notices to those members who hadn't paid the ADC and then cancelled their plots.
In the start of this year, the prices in University Town got doubled & it gave a wake-up call to certain members. When they contacted the society, they were informed that their plots were cancelled & they can refund their deposited amount. These members then went to NAB for restoration of their plots.
After this, NAB initiated the enquiry (which was reported in some of the newspaper). UT officials then met with relevant people in NAB and agreed to restore the plots of these members (upon receiving their payment against ADC). As part of this process, some of the plots have now been restored as well. Once this process is completed for all members in question, hopefully the issue will be sorted out from NAB end for once & all.
Although some news came up against UT in the newspaper & they were circulated on WhatsApp groups as well but it didn't show any negative impact on the prevailing rates of UT plots. As most dealers/investors were aware of true picture of this situation so there was no panic - the sale/purchase in UT is still steady. Hopefully, after Eid it will gain momentum as deadline (for New Airport as well as Metro Bus Service) of 14th August is approaching.
Let me know if anyone has had any questions & I 'll try to answer them as per my information.
Thank you Adeel for such a comprehensive reply, do you have information, how much development work has been done in UT and what is the status of access road to the town?