Supreme Court of Pakistan accepts Bahria Town’s Rs.460 bln offer
MG News | March 21, 2019 at 03:02 PM GMT+05:00
March 21, 2019 (MLN): Supreme Court of Pakistan has accepted Bahria Town’s offer to pay Rs.460 billion to acquire 16,896 acres of Karachi Super Highway, reported local media channels earlier today.
At the previous hearing, the Authorities had submitted a new proposal of Rs.450 billion for acquisition of the aforementioned land.
According to these sources, Bahria Town authorities will pay Rs.25 billion by August 25th 2019, as down payment.
Bahria Town is bound to pay up the whole sum over a period of 7 years, after which the land’s ownership will be transferred in its name.
Furthermore, in case of failure to pay three consecutive installments, Bahria Town will be declared as a defaulter.
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