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Tower owners usurp Rs1.8b - Lahore_Real_Estate - 06-16-2011 12:13 PM
LAHORE – More than 650 small entrepreneurs who invested worth Rs 1.80 billion in AHAD Tower at Kalma Chowk in 2004 to purchase shops and offices to run their businesses are now running from pillar to post to get justice after the government declared the high-rise construction as illegal, irregular and against the building by-laws.
Despite the lapse of more than eight years neither the illegal plaza has been completed nor a single person among the hundreds of affectees, has been compensated or given the possession of the property.
The influential owners of the Tower including ex-MPA Abdul Ahad Malik, his son and ex-Town Nazim Yousaf Ahad Malik have switched off their cellular phones and went underground as the affectees have become rolling stone to get their payments back are left with no other option but to
Interestingly, the accused have secured confirmed bails in some cases from the local courts to avoid arrests, after City police registered no less than 11 different cases of fraud (under section 420/ 468/471 of the PPC) against Yousaf Ahad Malik, his father Abdul Ahad Malik and mother Riffat Ahad Malik.
Ahad Tower is owned by Abdul Ahad Malik, a known political figure in the provincial capital who was elected as an MPA in 2002 on the ticket of Pakistan Muslim League (Nawaz) but her later defected to Pakistan Muslim League-Q. In 2005, his son Yousaf Ahad got elected as the town Nazim of Ravi Town on PML-Q ticket.
All the affectess had paid full prices of their assets worth millions of rupees in 2004 and the owners were supposed to hand over the possession of the property to the buyers within two years, as per the agreement. But despite of lapse of more than six years, they are just carrying the documents in their hands to show it to the high-ups, seeking compensation or possession of the property.