Karachi, Pakistan – Homebuyers in Karachi are increasingly falling prey to the unethical practices of a powerful “Builders Mafia” operating in the city’s real estate sector. Numerous accounts reveal a pattern of unfair dealings, leaving citizens financially burdened and without timely possession of their hard-earned properties.
Frustrated customers report a disturbing trend of builders arbitrarily increasing the agreed-upon prices of houses, apartments, and shops after the initial booking. This sudden and often substantial hike in cost leaves buyers in a precarious situation, forcing them to either stretch their finances beyond their means or risk losing their investment altogether.
Adding to the woes of homebuyers is the blatant disregard for agreed timelines. Many builders routinely fail to hand over possession of units to their customers on schedule. These delays, often extending for months or even years, cause immense hardship and uncertainty for those who have invested their life savings in these properties.“We booked our apartment with the promise of possession within 18 months,” lamented one affected buyer who wished to remain anonymous. “It’s been three years now, and we are still paying rent while our apartment remains incomplete. Every time we inquire, we receive vague excuses and no concrete timeline.”
These unfair practices paint a grim picture of the real estate sector in Karachi, where the dream of owning a home is turning into a nightmare for many. The lack of accountability and regulation seems to embolden these builders, who operate with impunity, exploiting the desperate need for housing in the sprawling metropolis.
Citizens are now calling on the concerned authorities to take immediate and decisive action against this “Builders Mafia.” They demand stricter regulations, transparent dealings, and a mechanism to protect the rights of homebuyers from such exploitative practices. The future of Karachi’s housing market and the financial well-being of its residents hang in the balance, awaiting swift intervention to curb the unchecked power of these unscrupulous builders.
