More than 69% of the housing societies in Pakistan are illegal, Geo news has claimed based on official documents.
According to details, 6,000 out of 8,767 housing societies in the country are not registered with relevant departments.
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These 6,000 illicit housing societies either exist on paper or their documents remain incomplete to date.
Around 4,000 cases against 500 illegal housing societies for defrauding citizens of Rs. 300 billion have been registered as well.
Meanwhile, only 2,767 or 31% of the housing societies in Pakistan are legal and registered with relevant departments.
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Note that the estimated size of Pakistan’s real estate market is Rs. 15-20 trillion.
Earlier in September, SAPM on Overseas Pakistanis and Human Resource Development, Syed Zulfiqar Bukhari, had announced to launch a major crackdown on illegal housing societies.
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