To the extent of amount already deposited: SC urged to ask Sindh govt or MDA to transfer leasehold rights to BTLK

ISLAMABAD: The Supreme Court was urged to direct the Sindh government or Malir Development Authority (MDA) to transfer leasehold rights to Bahria Town (Pvt) Limited Karachi (BTLK) Superhighway project to the extent of amount already deposited.

Barrister Ali Zafar had filed application on behalf of Bahria Town (Pvt) Limited Karachi (BTLK) under Order XXXIII Rule 6 of Supreme Court Rules, 1980. He stated that against Rs460 billion, the BTLK had paid Rs57,345,490,293 to date, while up to November 2019, the BTLK was required to pay Rs32,500,000,000.

He requested the apex court to pass an order that leasehold rights to the extent of amount deposited might kindly be transferred on lease by the Sindh government or MDA to Bahria Town Karachi Superhighway project for a period of 99 years, so it, in accordance with the terms and conditions already agreed with the allottees, transfer or cause to be transferred such rights in favour of the said allottees.

Ali Zafar maintained that allottees of Bahria Town Karachi project were facing problems in getting finances and generating optimum value of their properties/lands in Bahria Town Karachi Superhighway project due to non-availability of title/lease in their names.

The BTLK is also facing problem in selling its commercial land to the corporate entities locally and internationally for generating revenue to payback the liability of Rs460 billion due to non-availability of lease entitlements available to it for onward sub-lease.

The offer of Rs460 billion was made by the Bahria Town (Pvt) Limited Karachi before the implementation bench of the Supreme Court on March 21, 2019, for purchase of land measuring 16,896 acres in the area of MDA.

The offer was accepted by the apex court with certain terms and conditions.

The Supreme Court in its order dated March 21, 2019, had said: "BTLK is permitted to allot and otherwise deal with 16,896 acres the property in question as a builder/developer only."

"On receipt of entire payment leasehold rights in the property in question of 16,896 acres may be transferred on lease by the government of Sindh and/or the Malir Development Authority to BTLK for a period of 99 years or such other tenure in accordance with the applicable laws and BTLK shall in accordance with the terms and conditions already agreed with the allottees transfer or cause to be transferred such rights in favour of the said allottees," according to apex court.

Copyright Business Recorder, 2020