Is this a scam? Lake City Lahore installment House issue - Need urgent advice!
I purchased a 7 marla house in Lake City Lahore on installments for PKR 36 million (3 crore 60 lakh). The seller told me that once I started paying the installments, they would begin the construction of the house. The payment plan was PKR 4 million every 3 months, with late payment penalties if any installment was delayed.
They also clearly stated that if I ever canceled the deal, I would receive no refund at all — even if I had already paid multiple installments. So far, I have paid 4 installments, which totals PKR 16 million (1.6 crore).
Now I am being told that if I fail to pay the next installment or decide to cancel, I will lose both the money and the house, with no refund whatsoever.
The most concerning part is that they never provided me with any proper legal agreement, stamp paper, or registered contract. They only gave me a file containing a few basic papers. At this point, I genuinely do not know what to do. I feel trapped because it seems like my only option is to continue paying installments.
I want to know if this could possibly be a scam or if such practices are common in Lake City Lahore. If anyone has experience, knowledge, or advice regarding similar cases, please share it with me in the comments. I would really appreciate any guidance. 🙏