AIRLINK 74.00 Decreased By ▼ -0.25 (-0.34%)
BOP 5.14 Increased By ▲ 0.09 (1.78%)
CNERGY 4.55 Increased By ▲ 0.13 (2.94%)
DFML 37.15 Increased By ▲ 1.31 (3.66%)
DGKC 89.90 Increased By ▲ 1.90 (2.16%)
FCCL 22.40 Increased By ▲ 0.20 (0.9%)
FFBL 33.03 Increased By ▲ 0.31 (0.95%)
FFL 9.75 Decreased By ▼ -0.04 (-0.41%)
GGL 10.75 Decreased By ▼ -0.05 (-0.46%)
HBL 115.50 Decreased By ▼ -0.40 (-0.35%)
HUBC 137.10 Increased By ▲ 1.26 (0.93%)
HUMNL 9.95 Increased By ▲ 0.11 (1.12%)
KEL 4.60 Decreased By ▼ -0.01 (-0.22%)
KOSM 4.83 Increased By ▲ 0.17 (3.65%)
MLCF 39.75 Decreased By ▼ -0.13 (-0.33%)
OGDC 138.20 Increased By ▲ 0.30 (0.22%)
PAEL 27.00 Increased By ▲ 0.57 (2.16%)
PIAA 24.24 Decreased By ▼ -2.04 (-7.76%)
PIBTL 6.74 Decreased By ▼ -0.02 (-0.3%)
PPL 123.62 Increased By ▲ 0.72 (0.59%)
PRL 27.40 Increased By ▲ 0.71 (2.66%)
PTC 13.90 Decreased By ▼ -0.10 (-0.71%)
SEARL 61.75 Increased By ▲ 3.05 (5.2%)
SNGP 70.15 Decreased By ▼ -0.25 (-0.36%)
SSGC 10.52 Increased By ▲ 0.16 (1.54%)
TELE 8.57 Increased By ▲ 0.01 (0.12%)
TPLP 11.10 Decreased By ▼ -0.28 (-2.46%)
TRG 64.02 Decreased By ▼ -0.21 (-0.33%)
UNITY 26.76 Increased By ▲ 0.71 (2.73%)
WTL 1.38 No Change ▼ 0.00 (0%)
BR100 7,874 Increased By 36.2 (0.46%)
BR30 25,596 Increased By 136 (0.53%)
KSE100 75,342 Increased By 411.7 (0.55%)
KSE30 24,214 Increased By 68.6 (0.28%)

The Association of Builders and Developers (Abad) has urged the government to formulate a law which provides indemnity to the transferee of lands, housing units, that once registered by the government registration department then the transferee stands protected from all kinds of disputes in future, whether raised by public or private sector or individuals or by any NGO.
In a report on "Impediments to the growth of housing", prepared by Abad, which noted that the biggest impediments on development of the housing and construction sector in Sindh Urban Land Cancellation Ordinance-2002.
Few of the most flagrant impediments as follows:
(1) The retrospective effect of an ordinance. This practice is totally unheard in any party of the world.
(2) Presents owners, occupants being penalised for the faults of those who made a windfall out of these lands by selling them to organised constructors and yet going unscathed.
(3) Almost five to 10 percent of these lands are now housing inhabitant, but this hard earned money is blocked as no transaction on these units can be made.
(4) The House Building Finance Corporation (HBFC) getting stuck-up as well by virtue of already making investment in these housing projects.
(5) Land being primary input, raw material is getting scarce as availability of land tracts is diminishing fast.
(6) Extremely unjustified and exorbitant rates for de-freezing of lands.
(7) The government of Sindh to rectify the situation has devised no proper mechanism so far. However, the delay is making corruption rampant.
The Association emphasise that all these lands on which projects have sold to general public should be relieved from the ambit of Sindh Land Cancellation Ordinance-2001, and the remaining lands should be regularised after payment of justified amounts within three months.
The Association demanded that the committee formed under the said ordinance under the chairmanship of Justice Abdul Rehman (Retd) should be allowed to work free, independent and expeditious manner without any interference from the government of Sindh.
It also demanded that the land record should be computerised on war-footing so as to remove disputes as well as making the investors feel convertible.

Copyright Business Recorder, 2004

Comments

Comments are closed.