ISLAMABAD/RAWALPINDI: A massive scam in private and cooperative housing schemes in Islamabad and Rawalpindi has come to light, exposing how thousands of citizens were allegedly defrauded of hundreds of billions of rupees over the past several years. The National Accountability Bureau (NAB) Rawalpindi’s investigation has uncovered widespread irregularities, including overselling plots, issuing fictitious memberships, and marketing land beyond approved limits.
According to sources, nearly 91,000 plots and files were sold exceeding available land or approved Layout Plans (LoPs). Shockingly, around 20,000 memberships were allocated despite no land being available, while about 80,000 kanals of land were advertised and sold without approval or existence on paper.
In one striking example, a private housing project applied for LoP approval for only 4,000 kanals in 2022 but publicly claimed its scheme spanned 75,000 to 100,000 kanals. It sold between 30,000 and 40,000 plots, generating an estimated Rs50-60 billion from unsuspecting buyers, yet only managed to acquire 34,000 scattered kanals over three years without regulatory approval.
Investigations indicate that these patterns were not isolated. Multiple private and cooperative housing schemes were found using similar deceptive tactics — overselling plots, promising possession without sufficient land, and collecting large sums from investors who have been left waiting for years.
Cooperative societies, once considered safer, were found equally complicit. One society still owes possession to 5,000 members, another sold 35,000 plots beyond approved land, and others issued thousands of excess plots or memberships. Across these schemes, roughly 65,000 plots remain undelivered due to land unavailability or incomplete development.
Officials say the cumulative loss to citizens — including government employees, professionals, retirees, and ordinary investors — runs into hundreds of billions of rupees. NAB has coordinated with the Cooperative Department and relevant regulators to authenticate the findings and is preparing a reform package to address systemic loopholes and protect public interest.
The investigation highlights the enduring hardship faced by thousands of families who, despite paying substantial sums, remain without land or possession. Experts point to regulatory lapses, administrative negligence, and deliberate fraud as the root causes behind this long-running housing crisis.
