Islamabad, Nov 14: The Rawalpindi Development Authority (RDA) recently uncovered widespread fraud in private housing schemes within the district. Their survey identified 52 schemes as entirely fake, 73 as non-existent, and 24 as illegal, revealing serious investor deception.
The schemes misled investors with promises of high returns. In response, the RDA has given affected investors 30 days to file complaints or objections.
After this period, the RDA will cancel files related to these projects, removing them from official records.
RDA Director General Kinza Murtaza has also stopped approving new housing schemes in the district, signaling a strict approach to fraudulent activities.
The RDA categorized these schemes into three groups: illegal, fake, and non-existent.
This classification aims to protect the public, urging investors to be cautious.
The RDA has revoked 24 illegal schemes, including Ban Alam City, CBR Residencia, Media Enclosure, and Turkish Smart City, all of which lack approval.
The “fake” category includes 52 schemes that exist only on paper with no physical or legal foundation.
Notable names are Khyber Model Town on Chakri Road, Pak PWD Chakri Road, and Rawalpindi Green City. These schemes were created solely to deceive investors.
The “non-existent” category lists 73 schemes with no land, infrastructure, or offices.
Examples include The Regent Farmhouse, AM Town, City Homes, and Evergreen City.
These schemes pose high risks as they have no real assets or development.
This RDA warning aims to protect the public from further losses by exposing these fraudulent schemes, encouraging caution in real estate investments within Rawalpindi.
