NICL scam: No loss incurred in second land deal, says report

Downtown Mall Gulberg Lahore
Downtown Mall
Goldcrest Mall & Residency DHA Phase 4 Lahore
DHA Goldcrest Mall
DHA PentaSquare Phase 5 Lahore Render
DHA Penta Square
DHA Raya
DHA Haly Tower Corporate Offices Shops
DHA Haly Tower

LAHORE: The latest valuation shows that the national exchequer incurred no major loss in connection with the over Rs1.6 billion land deal between Mohsin Habib Warraich and the National Insurance Company Limited (NICL).

According to the valuation report issued on December 20 by Ahmed Associates at the request of the NICL as well as the FIA, the value of the commercial piece of land measuring 20 kanals and two marlas owned by Warraich, the son of former state minister for defence production Habibullah Warraich, was nearly Rs1 billion.

Report titled ‘Valuation Certificate’ says: “This is to certify that we have carried out the valuation of the commercial property (bounded land) bearing khasra Nos. 999, 1000, 1001, 1002, 1003 situated at Mouza Gohawa and khasra Nos. 729, and 793 situated at Mouza Shajpal, Main Defence Road, near DHA Commercial Broadway and Metro Pakistan Limited cantt tehsil, Lahore district, total measuring 20 kanals and 2 marlas. In accordance with the client letter reference No. ED(CS)/FIA/CORRES/2010, dated December 16, 2010. The subject property was surveyed, assessed and evaluated.

“We report that on the basis of the best of our professional knowledge and experience, the assessed estimated value of the subject property, derived and determined on the basis of a criteria given in the annexed report, is as follows: Total assessed present value Rs984.9 million.

Source: Tribune

DHA Lahore
DHA Lahore
DHA Peshawar
DHA Peshawar
DHA Quetta
DHA Quetta
DHA Multan Logo
DHA Multan
DHA Gujranwala Logo
DHA Gujranwala
DHA Bahawalpur
DHA Bahawalpur

Property Buying & Selling was never easy before, simply connect with our WhatsApp Hotline for absolutely free property consultancy. Please save this number +923111042111 in your contact list to get regular updates from us, otherwise you will not receive any update.

Subscribe to our YouTube Channel for latest videos abuout Pakistan Property including DHA Lahore, Peshawar, Quetta, Multan, Gujranwala & Bahawalpur. Also Naval Anchorage Gwadar, New Tonw, Sangar, BECHS, FTBA, Creek City, Golden Palm, GDA 5, Muscat Center and many other projects in Pakistan.

NICL scam: No loss incurred in second land deal, says report
Scroll to top
WhatsApp WhatsApp Hotline +923111042111