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Top City 1 Islamabad Ranger Raid has panicked investors

Top City 1 Islamabad Ranger Raid has panicked investors

News about the opening ceremony of New Islamabad International Airport uplifted the stagnant real estate sector of Islamabad. Top City-1 Housing Society Islamabad was the most beneficial of this news where property prices increased by many folds. Short term investors earned high profits, but long term investors are now in panic due to two reasons. Firstly, Aviation authority has planned to acquire the land of Top City-1 for the expansion of Airport. Secondly, Pakistan Rangers have recently raided the Top City-1 office and also the house of CEO Moeez Kunwar, who has been arrested. According to various news sources, many wanted criminals have also been arrested. Some say that even NATO Weapons have been recovered from the criminals.

Moeez Kunwar has arrested due to many allegations. Firstly, according to rangers, Moeez Kunwar and other guards in society were arrested as they were involved in criminal activities in Karachi. Many hard core criminals had taken refuge in Top City-1. Secondly, Moeez Kunwar had transferred money to MQM Founder Altaf Hussain in London. Thirdly, UK based woman, Zahida Javed Aslam filed a complaint with Pakistan Rangers in December 2016. Zahida accused Moeez Kunwar of grabbing her land on gun point. Fourthly, Moeez Kunwar was involved in many cases of firing the villagers to grab their land illegally. This is important to note that this raid is a part of Operation Radd ul Fasaad.

Buyers and investors are now in great panic as they have only society letters and no money transactions in most cases. According to realtors, it’s not the fault of buyers, as many of such projects are always attractive for the people who have limited budget. Realtors are telling the buyers to register complains with the rangers and other development authorities to safe guard their investments.

Recommended:
New Islamabad International Airport and Property investment

(11) Comments

  1. Khurram

    on   said 

    we are working on a real estate web portal online which will be Pakistan most connected real estate network.offering endless opportunities and unique features for property dealers ,town managers , developers as well as individual buyers ,sellers and rentals.
    We connect right buyers with right sellers ,coming soon Inshallah after eid .
    Best regards
    Karakoram Homes
    kkhrealestate.com

    Reply
  2. Mohammad Ali

    on   said 

    I request CJP to take sue moto action and safeguard the precious life time earnings of end-users so that court of law and rule of law presence is felt in this country.

    Reply
      • Mohammad Ali

        on   said 

        If majority of affecties agree this can be done. I think you can develop consensus on this forum and also using your contacts in real estate agents

        Reply
        • Mohammad Ali
          Agree
          The purpose of this blog was not to defame the owners or society but to safe guard the hard earned money of investors and genuine buyers. I have told everyone to take appropriate actions. Hope for the best.

          Reply
    • Z. Ali

      on   said 

      Yes
      The project was granted noc by authorities and thereafter public did investment, hard earned money should not be put at stake. Government should take steps to safeguard general public money.

      Reply
      • Z. Ali
        Yes
        When government has granted NOC to this society, its not the fault of general public/investors. Government should definitely safeguard the saving of people.
        Agree

        Reply
    • Uzma Sher
      Yes I am late. I was collecting the information.
      Many readers of this blog know that since the last budget I was telling that property prices are artificially high and cannot stay high anymore. The raid is the proper way to free real estate sector of Pakistan from land mafia and people who are garbing others land by force. Pakistan government is also planing the laws and we will soon get rid of land mafia as according to the new laws, no builder / developer can get booking amount without the proper approval of local development authorities.
      Panama case decision will decide the direction of Pakistan as corruption free country with property for only genuine buyers not for the people with black money. Soon people with black money will be hunted down.
      Stay tuned as next few months are gonna very interesting.

      Reply

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