CCP, LDA launch investigation against 58 housing schemes.

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Lahore: The Competition Commission of Pakistan (CCP), in collaboration with the Lahore Development Authority (LDA), has initiated a probe into reports of illegal marketing practices adopted by 58 housing schemes in the city, a news source reported.

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To this effect, the commission has issued notices to the management of these schemes. It has initiated the ‘inquiry under section 37(1) of the Competition Act, 2010 for prima facie, violation of section 10 of the act’. According to officials, the owners of these housing societies have marketed their projects without seeking LDA’s approval.

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The federal institution has directed the owners of the societies to present the legal status of their projects, master plan, the exact location of the housing project, and the promotional material used since the inauguration of the project.

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Moreover, it has sought the number and categories of plots offered so far to the public for sale, details of the scheduled payment, the total amount gathered against sales of plots, as well as audited financial and bank statements.

The CCP has also directed the administrations of the housing societies to submit their replies by February 6 or face legal action.