There are more illegal than legal housing societies in Pakistan.
Over 69% of the country’s housing societies are not registered, government documents revealed Tuesday.
According to official documents, out of a total of 8,767 housing societies, 6,000 are not registered with the concerned institutions.
These 6,000 housing societies have been made on bogus papers or their papers are incomplete.
Read about illegal housing projects in Khyber Pakhtunkhwa
Over 4,000 fraud and corruption cases are registered against 500 societies. These cases of fraud amount to more than Rs300 billion.
In addition, only 2,767 housing societies are registered in the country, while the size of the real estate market is about 15 to 20 trillion rupees.
In September, Special Assistant to the Prime Minister on Overseas Pakistanis Sayed Zulfikar Bukhari had announced a “major crack down on all illegal housing societies” that engaged in hoodwinking expatriates.
Making the announcement on Twitter, Bukhari said the crackdown was aimed at “all illegal housing societies selling to Overseas Pakistanis through external channels”, such as expos, as well as digital and overseas offices, and promising them fake investment opportunities.