{"id":18451,"date":"2016-01-08T16:55:23","date_gmt":"2016-01-08T11:55:23","guid":{"rendered":"http:\/\/www.zameen.com\/blog\/?p=18451"},"modified":"2017-12-11T12:30:31","modified_gmt":"2017-12-11T07:30:31","slug":"an-important-update-on-dha-city-lahore","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/an-important-update-on-dha-city-lahore.html","title":{"rendered":"An important update on DHA City Lahore"},"content":{"rendered":"<p><a href=\"http:\/\/www.zameen.com\/blog\/wp-content\/uploads\/2016\/01\/DHA-City-Lahore-Important-Update.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-18458 aligncenter\" src=\"http:\/\/www.zameen.com\/blog\/wp-content\/uploads\/2016\/01\/DHA-City-Lahore-Important-Update.jpg\" alt=\"DHA City Lahore - Important Update\" width=\"600\" height=\"350\" srcset=\"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2016\/01\/DHA-City-Lahore-Important-Update.jpg 600w, https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2016\/01\/DHA-City-Lahore-Important-Update-300x175.jpg 300w, https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2016\/01\/DHA-City-Lahore-Important-Update-537x313.jpg 537w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<p>DHA City Lahore has become a bone of contention between investors and the Defence Housing Authority (DHA). Despite it being launched years ago, the project still shows no traces of development. Moreover, development work is unlikely to start any time soon.<\/p>\n<p>Today, there\u2019s a rather important update to share. The National Accountability Bureau (NAB) has arrested Globaco (Pvt) Ltd Chief Executive Officer Hammad Arshad on charges of corruption, per a news source. Arshad had signed an agreement with DHA in November 2009 to develop DHA City on 25,000 kanals of land. Globaco (Pvt) Ltd was supposed to acquire the land, but failed to do so, leaving investors clueless about DHA City\u2019s status. Reportedly, the company could only purchase 13,103 kanals in scattered patches.<\/p>\n<p>NAB has alleged that Hammad issued allotment letters to the public and collected a total of PKR 15.47 billion. All this money was transferred to his personal accounts.<\/p>\n<p>The news source reported further that DHA had registered a formal complaint with NAB and there are over 11,715 registered victims of DHA City. NAB is also concerned about the alleged involvement of Elysium Holdings Pakistan Limited and other companies in the land scam.<\/p>\n<p>Arshad will be produced before the accountability court later today. A NAB official told reporters that the bureau will look into the role of other beneficiaries and get to them after completing its investigation.<\/p>\n<p><strong>Rumours about DHA City<\/strong><\/p>\n<p>Many rumours are circulating in the market about DHA City. One goes that DHA will acquire Park View Villas to make way for DHA City, while another states that a road will be built from Multan Road alongside M2-Motorway to provide access to the project.<\/p>\n<p>I personally believe all these rumours have no gravity right now, as the accountability court\u2019s decision will clarify what the future holds for this project.<\/p>\n<p><strong>Prices<\/strong><\/p>\n<p>The project features plot files of 5 marlas, 10 marlas, and 1 kanal. I discussed prices of these plot files in my previous post on DHA City, but for your convenience I am highlighting them once again. Please see the table below to have an idea of the current market prices.<\/p>\n<table class=\"post-tbl-cust\" width=\"586\">\n<tbody>\n<tr>\n<td width=\"156\"><strong>Plot File<\/strong><\/td>\n<td width=\"156\"><strong>Launch Price<\/strong><\/td>\n<td width=\"156\"><strong>Current Average Price<\/strong><\/td>\n<td width=\"156\"><strong>Difference<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"156\">5 marla<\/td>\n<td width=\"156\">PKR 990,000<\/td>\n<td width=\"156\">PKR 1,040,000<\/td>\n<td width=\"156\">PKR 50,000 (profit)<\/td>\n<\/tr>\n<tr>\n<td width=\"156\">10 marla<\/td>\n<td width=\"156\">PKR 1,990,000<\/td>\n<td width=\"156\">PKR 1,700,000<\/td>\n<td width=\"156\">PKR 290,000 (loss)<\/td>\n<\/tr>\n<tr>\n<td width=\"156\">1 kanal<\/td>\n<td width=\"156\">PKR 3,790,000<\/td>\n<td width=\"156\">PKR 3,100,000<\/td>\n<td width=\"156\">PKR 690,000 (loss)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong><em>Note:<\/em><\/strong><em> The figures mentioned in the table above have been provided to us by Yasir Aziz of Quaid Associates. You can contact him at 03228888762.<\/em><\/p>\n<p>The fact that the DHA filed a case with NAB signifies that the authority has not turned a blind eye to the concerns of the affectees. Though DHA City is currently sailing through a bit of a rough patch, I believe it will turn out to be a successful project in the longer run,<em> InshaALLAH<\/em>.<\/p>\n<p>What would you like to say about NAB\u2019s probe into the case? Share your view in the comments section below.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>DHA City Lahore has become a bone of contention between investors and the Defence Housing Authority (DHA). Despite it being launched years ago, the project still shows no traces of development. Moreover, development work is unlikely to start any time soon. Today, there\u2019s a rather important update to share. The National Accountability Bureau (NAB) has arrested Globaco (Pvt) Ltd Chief Executive Officer Hammad Arshad on charges of corruption, per a news source. Arshad had signed an agreement with DHA in November 2009 to develop DHA City on 25,000 kanals of land. Globaco (Pvt) Ltd was supposed to acquire the land, but failed to do so, leaving investors clueless about DHA City\u2019s status. Reportedly, the company could only purchase 13,103 kanals in scattered patches. NAB has alleged that Hammad issued allotment letters to the public and collected a total of PKR 15.47 billion. All this money was transferred to his personal accounts. The news source reported further that DHA had registered a formal complaint with NAB and there are over 11,715 registered victims of DHA City. NAB is also concerned about the alleged involvement of Elysium Holdings Pakistan Limited and other companies in the land scam. Arshad will be produced before&hellip;<\/p>\n","protected":false},"author":14,"featured_media":18458,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[2523,2526,2525,2570],"persona":[],"class_list":{"0":"post-18451","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"tag-dha-city-lahore-news-and-updates","8":"tag-news-about-dha-city-lahore","9":"tag-status-of-dha-city-lahore","10":"tag-update-on-dha-city-lahore"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>An important update on DHA City Lahore - Zameen News<\/title>\n<meta name=\"description\" content=\"DHA City Lahore has become a bone of contention between investors and the Defence Housing Authority (DHA). 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