GDA urged to maintain record of plots

Real estate agents have urged the Gwadar Development Authority (GDA) to maintain proper record of sale and purchase of residential, commercial and industrial plots in every scheme under its control so as to protect interests of investors, apart from avoiding any scam. According to them, various developers have launched their housing schemes under different names and promising residential and commercial plots but no one knows how many plots are available in each society.
Most of the developers claimed to have obtained no objection certificate from the GDA, but no official announcement has been made by the GDA about the total number of NOC issued by the Authority to different housing schemes.
Experts in real estate business told Business Recorder that there are chances that a developer has sold out files of plots more than the actual plots. "It is difficult for an investor to personally visit the site of his plot, and he is dependent on the marketing men of the developers, who might be trapping innocent people by presenting attractive brochures."
Keeping in view the future prospects of Gwadar area and trade activity at this newly emerging commercial hub, a large number of people are interested in buying residential, commercial or industrial plots for investment purpose. The developers' sharp-minded staff also makes the people to believe that the Gwadar area is going to become future Dubai and their investment value would appreciate manifold, they added.
It may be mentioned that a large number of people had already become victim of finance corporations, which grabbed their money by offering them high interest rate.
They were of the view that Gwadar Development Authority should take appropriate measures to develop online system, which could provide online information about plot of any number of a specific scheme so that the developers might not be able to hoodwink the people.
They opined that the developers must be bound to submit record to the Gwadar Development Authority about every transaction and complete details of buyer/seller of plots so as to enable the Authority to keep continue updating its website for the facilitation of investors.