The authorities have taken appropriate measures to effectively check the investment aspect in the sale of plots in G-14 sector being developed in Islamabad by Federal Government Employees Housing Foundation.
This aspect has been checked by imposing complete ban on sale of the plot by the owner, whereas in the past the owners of the plots in other sectors of the Capital city were allowed to sell out the plots soon after their allotment in their names or even prior to that.
According to the terms and conditions carried through the brochure of the Housing scheme for G-14 sector, "the allottee shall not sell/transfer the plot to anyone till the house thereon has been completed by him. Prior written permission of the Housing Foundation shall have to be obtained by the allottee for the sale/transfer of the house after its completion and payment of the service charges as approved by the Executive Committee."
The other terms and conditions of the scheme include: payment of instalment within the specified time limit shall be the responsibility of the allottee. A grace period of one month may be allowed for payment of a particular instalment on case-to-case basis keeping in view the cogent reasons/justification.
If the allottee fails to pay the dues within the grace period, a surcharge @ 1 percent per month will be livable on the amount due for the period of default including the grace period of one month,
Extension in time beyond due date but including the grace period shall be allowed on a formal request up to a maximum period of four months subject to the payment of surcharge.
If the allottee fails to pay the dues during the extended period, the allotment of the plot shall stand cancelled and the amount paid by him shall be refunded after deducting 5 percent of the amount paid, within four months of the cancellation of allotment.
The Housing Foundation shall endeavour to complete the development works and hand over the physical possession of the plot to the allottee within 36 months of the provisional allotment. However, in case of any delay for some unavoidable/unforeseen circumstances, the allottee shall not be entitled to claim any compensation from the Housing Foundation.
If for any reason the project is abandoned, the allottee shall not be entitled to claim any compensation or damages and shall only be entitled to receive the refund of the balance amount after accounting for all the liabilities incurred by the Housing Foundation.
All orders and instructions issued by the Executive Committee from time to time and decisions taken by it in regard to the scheme shall be binding on all concerned.
All disputes between the Housing Foundation and the allottee/applicants shall be referred to the Executive Committee for arbitration and the decision of the Committee shall be final and binding on both parties.
Possession of individual plots shall be handed over on the completion of entire development works.
The allottee shall take over possession of the plot within 30 days of the receipt of the intimation from the Housing Foundation. In case of delay in taking over possession the Foundation shall charge Rs l000 per month from the allottee.
The period of construction of houses by the allottee will be 3 years after handing over the plots to them.