The Sindh High Court (SHC) has rejected a petition to include additional disputed land into the Nasla Tower auction and the sale of the high-value property will proceed, as scheduled on September 4.
The petitioner claimed that the builder had purchased an extra 357 square yards of land outside the original piece of land to be auctioned and argued that it should be included in order to pay off all the investors.
The administration of the auction said the tower will have a market value of Rs. 114 crore and bidding will begin at Rs. 81.12 crore.
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The court pointed out that a previous Supreme Court decision had ordered the demolition of the residential project as a result of encroachments that were illegal and ordered the sale of 780 square yards to proportionately divide the proceeds among allottees.
The SHC observed that the addition of the additional land would go against the decision of the apex court. The petitioner was fined Rs. 20,000 for making the request.
