When a real estate project gains popularity in the market, our attention naturally turns to its legal status. This is especially important for investors and buyers who are understandably cautious due to numerous fraudulent activities in Pakistan’s real estate market. The legality of a real estate project, therefore, becomes a significant concern.
The same scrutiny applies to Bahria Sky Lahore, a project developed by OZ Developers. Spanning over 7.5 Kanal with a height of approximately 200 feet, Bahria Sky is situated in a prime location along Raiwind Road in Bahria Orchard. To address any doubts regarding its NOC or legal status, let’s refer to a statement from its CEO.
The CEO of OZ Developers, Haroon Hanif, stated that:
“During the construction phase, the company will furnish you with booking details. Upon completion of construction, ownership will be transferred from Bahria’s office just like any other plot purchase within Bahria. Naturally, plots situated in blocks approved by the LDA will already be registered. Furthermore, following the transfer from Bahria, it will undergo LDA registration. This process is mandated by law and typically takes place after completion.”
Does This Statement Makes Bahria Sky Legal?
This question is subjective, presenting two contrasting perspectives. On one hand, there are assertions from reputable sources like Sapphire Properties, Blue Properties, CDB Real Estate, and iReal Projects, claiming that Bahria Sky has obtained a NOC from the Lahore Development Authority (LDA).
However, the LBD Marketing team has not found any evidence of a NOC or legal status for Bahria Sky. Bahria Sky Lahore is located in Bahria Orchard Phase 4, which is listed among the illegal housing schemes on the Lahore Development Authority’s website though.
You can check it from official website of LDA:
On the other hand, experts in the real estate market argue that Bahria Town has built a strong reputation nationwide, and Bahria Orchard is a project under Bahria Town. Therefore, the legality of Bahria Orchard seems unquestionable. They believe that just as Bahria Town has a legal and authorized presence, Bahria Orchard will also meet investors’ expectations. This argument sounds confident and reliable, reinforcing trust in the owner and developer of Bahria Orchard.
Similarly, during a meeting with a sales representative from OZ Developers, it was clarified that Bahria Sky is completely legal and has obtained all necessary documents from the relevant authorities. Additionally, the management of OZ Developers is confident in their ability to provide proof of Bahria Sky’s legality.
Ground Realities About Bahria Sky’s Credibility
Apart from just listening to what people say, it’s important to check if those claims are actually true. For example we can check the credibility of developer, work in progress on site, feedback from investors and local market surveys.
Here at LBD Marketing, we’ve thought about some logical reasons why Lahore Sky seems like a trustworthy and legal project to invest in. Here are a few of those reasons:
- OZ Developers is a reputable company operating across several sectors and in different countries at the same time. Their latest real estate venture “Lahore Sky” is the tallest building in Punjab.
- There is a live update available on their website to view live construction process. So, investors can see and affirm that the project is in process. This makes it more credible. Click on the link to see live updates:
https://ozdevelopers.com/live-construction-updates/
- OZ Developers has mentioned a concrete timeline of project. They are intended to deliver and handover properties to owners by the 48th It seems they’ll achieve it.
So, What’s The Final Verdict?
In summary, while there might not be any official legal documentation to back up the claim, Bahria Sky appears to be a trustworthy real estate project. After conducting thorough market research, any concerns regarding its legal status and NOC seem to dissipate.
Therefore, investing in Bahria Sky Lahore seems like a secure option. You no longer need to be overly concerned about its legal standing. For more details and information, please don’t hesitate to contact us or visit our office in DHA Phase 6, Lahore.
