Question: The developmental charges imposed on investors of a housing scheme are extremely high and it is becoming more and more difficult for investors to pay them regularly.
This is a common problem with all housing scheme investments; the development charges levied on investors are so high that it puts them under financial strain and many fail to keep up with them. The whole concept of paying developmental charges in installments is to make it easier on the investors pocket however for many scheme proprietors it is a tool to defraud people and discourage them from pursuing the prospective property. With increasing development the land becomes more expensive and therefore it is more beneficial and easier for these proprietors of the housing scheme to sell the land at a higher price. With extremely high developmental charges the investor is forced to sell his rights back to the housing scheme developers in return for part of the money that you have invested in acquiring the land. Many investors feel like they have no way out of this except for selling their rights however very few know that such practices are considered unfair under the law and there is entire legal mechanism to ensuring the right of the buyers/investors are protected. The protective mechanism shall differ according to the terms of the contract and therefore consultation with legal experts is vital. For free consultation you may pursue our legal team at http://www.bsol.org.pk/free-legal-consultation/.