ISLAMABAD
\nThe Competition Commission of Pakistan (CCP) is in process of initiating an inquiry into deceptive marketing practices in the real estate sector. The decision is based on extensive data and intelligence gathered by CCP\u2019s Market Intelligence Unit (MIU) and the Office of Fair Trade (OFT), which revealed widespread misrepresentation by various housing societies and developers, said a release issued here on Tuesday.
\nThe inquiry would specifically target 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 upon all stakeholders\u2014including consumers, investors, and overseas Pakistanis\u2014to assist the Commission by submitting any available evidence, documents, or promotional materials that can support the inquiry. Complaints and proofs may be submitted through the CCP\u2019s Online Complaint Portal at www.cc.gov.pk.
\nInitial analysis conducted by the CCP indicates that several housing societies and real estate projects have engaged in deceptive practices, including, misrepresenting project location by using the name \u201cIslamabad\u201d for developments actually situated in Rawalpindi, Attock, Taxila, and Murree.
\nThe real estate projects falsely claiming regulatory approvals, NOCs, or affiliation with CDA and using fake images, digital renderings, or exaggerated portrayals of development.
\nThey provide false assurances of utilities such as electricity, gas, and water, or amenities like schools, hospitals, and community centers that do not exist in approved plans, and employing unauthorized endorsements, celebrity testimonials, and misleading installment plans with hidden charges.
\nAlso promising unrealistically high returns on investment in unapproved or non-existent projects.
\nThe CCP emphasized that such practices mislead buyers and investors, particularly overseas Pakistanis, distort competition, and undermine consumer trust.
\nDeceptive marketing constitutes a violation of Section 10 of the Competition Act, 2010, and undertakings found guilty may face penalties of up to PKR 75 million or 10% of annual turnover. Continued violations may also result in further legal and corrective measures to safeguard public interest.<\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD The Competition Commission of Pakistan (CCP) is in process of initiating an inquiry into deceptive marketing practices in the real estate sector. The decision is based on extensive data and intelligence gathered by CCP\u2019s Market Intelligence Unit (MIU) and the Office of Fair Trade (OFT), which revealed widespread misrepresentation by various housing societies and […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-507348","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n