News report about 'housing scams' in Islamabad (Pakistan) where the project was cancelled and money returned to the buyers were slow. Effectively, we think that the buyers should be paid both for their lost of bank interest and time as well.

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There are many ways in which the scams take place. Sometimes, the housing society informs the buyer that the project is being disbanded and that the money will be returned. The only problem with this is that it takes some time before the money is returned and when it is, a certain percentage is deducted under the head of 'processing and administrative costs'. This is nothing but outright robbery since there is no logic why the purchaser should be punished on account of the project not going ahead as planned. In reality, this is just a nifty way to make some money; the allotments are cancelled and then re-sold at higher prices. Of course, scams can happen even in societies that do eventually provide homes to their clients. Here, the difference between the facilities and quality as promised in glitzy infomercials aired on various TV channels and what is really given is substantial. But the poor purchaser has no forum to turn to, except to file a legal suit. However, since this option means several years of wrangling in court and expensive legal fees, most homeowners end up doing nothing....