Property business significantly declined after SC order to demolish Nasla Tower
Purchase of illegal portions had declined 20 per cent in Karachi.
The sale and purchase of property has significantly declined in Karachi after the Supreme Court order to demolish Nasla Tower.
Sources said that the purchase of illegal portions had declined 20 per cent.
They said that the illegal multi-storey buildings had been built on small plots in the city wherein over over 65,000 portions were constructed and sold.
More than 8,000 real estate agencies are working in the city. About 500,000 people are associated with these 8,000 estate agencies.
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Realtors said that their business had declined after the recent Supreme Court decision to demolish Nalsa Tower.
On the other hand, public departments dealing in property-related matters also see less clients as only in Karachi Development Authority (KDA) transactions of 6,000 files was used to carried out every day.
Due to the situation, the brokers in government institutions are also complaining about the lack of customers.
