CCP Launches Probe into Real Estate Misrepresentation

ISLAMABAD: The Competition Commission of Pakistan (CCP) has launched a probe into deceptive marketing practices within the real estate sector, prompted by insights from its Market Intelligence Unit and Office of Fair Trade, which uncovered widespread misrepresentation by housing societies and developers.

The inquiry will scrutinize projects falsely claiming to be located within the Islamabad Capital Territory (ICT) or registered with the Capital Development Authority (CDA), despite being situated outside its jurisdiction.

The CCP has called on consumers, investors, and overseas Pakistanis to provide evidence, documents, or promotional materials to aid the investigation via its Online Complaint Portal at www.cc.gov.pk.

Initial findings indicate that developers may have misrepresented project locations, regulatory approvals, amenities, endorsements, and projected investment returns.

Violations of Section 10 of the Competition Act, 2010, could result in penalties of up to Rs75 million or 10% of annual turnover, alongside additional legal measures to safeguard public interest.