In a significant move to bolster foreign investment and enhance US-Pakistan relations, Pakistani Ambassador to the US, Rizwan Saeed Sheikh, visited the Central Business District (CBD) Punjab. Accompanied by prominent business figure Tahir Javed, the delegation was warmly received by the CEO of CBD Punjab, Imran Amin.The delegation was provided with a comprehensive briefing on the ongoing and planned projects under the CBD Punjab initiative. Key officials, including COO CBD Punjab Brigadier...

In a significant milestone for urban development, the Central Business District Punjab (CBD Punjab) officially handed over possession of Plot #4 and Plot #5 in Lahore Prime CBD Punjab Quaid District to the Pakistan Consortium Company Fund (PCC). The ceremony, reported on July 8, marked a pivotal moment in the region's development.The event saw the presence of prominent PCC members, including CEO Imran Amin and Chairman Barrister Syed Azfar Ali Nasir. CEO Imran Amin highlighted the strategi...

The Punjab Assembly has approved the budget for the financial year 2024-25, offering significant benefits for property owners. One of the key highlights is the exemption of residential properties valued up to PKR 5 million from property tax, effective from July 1 onwards.Presented by Provincial Finance Minister Mian Mujtaba Shuja ur Rehman and presided over by Speaker Malik Muhammad Ahmad Khan, the budget was passed alongside the Finance Bill. This is the first annual budget for the curren...

In a landmark decision, the Punjab Assembly has passed the budget for the fiscal year 2024-25, ushering in significant changes for property owners across the province. Effective July 1, residential properties valued up to PKR 5 million will be exempt from property tax.Chaired by Speaker Malik Muhammad Ahmad Khan, the session saw Provincial Finance Minister Mian Mujtaba Shuja ur Rehman present the Finance Bill, which outlines these pivotal adjustments. Under this new framework, commercial p...

Punjab Chief Minister Maryam Nawaz has given the go-ahead for a significant development initiative in Lahore, according to recent reports dated June 2. In the project's first phase, development will commence across six zones in Lahore over the next ten months, with an estimated budget exceeding 74 billion rupees. Additionally, CM Maryam Nawaz inaugurated the Nawaz Sharif Information Technology (IT) City project, which spans 853 acres and will benefit from a ten-year tax exemption. This...

The 'Maryam Ki Dastak' initiative, launched by Punjab’s Finance Secretary, Mujahid Sherdil, is set to revolutionize public service delivery by bringing essential government services directly to citizens' doorsteps. As reported on May 17, this initiative ensures that facilitators will assist citizens with completing forms, processing payments, and ensuring prompt delivery of documents.Interested individuals can register through the 'Dastak Facilitator Mobile App' and must meet specific crit...

In a recent development set to reshape Islamabad's real estate landscape, the Federal Board of Revenue (FBR) has announced plans to roll out updated property values, marking a significant shift after a two-year hiatus since the last valuation in March 2022. This update, scheduled to take effect in July, is part of a broader initiative aimed at bringing new housing societies into the tax net. The initiative underscores the FBR's commitment to enhancing transparency and accountability wit...

Public Auction for commercial plots in Johar Town by LDALahore Development Authority (LDA) plans to hold a public auction for the commercial plots in Finance and Trade Central, Johar Town, Lahore’s business district.This auction will be held on 15th May 2024, at 10:00 AM. This auction includes commercial plots, public utility sites, and educational and Vegetable market plots. The initial price of these plots is set at 90 lacs PKR, a great opportunity for investors to participate and...

The Capital Development Authority (CDA) announced to establish the largest IT Park in Pakistan by partnering up with the private and government sectors. After the approval from the CDA Board, 3.3 acres of land in sector G10 has been chosen for the development of this IT Park. This IT Park will be one of its kind in Pakistan. This IT park will cover a total area of 100,00 square feet which will eventually provide workspace for more than 5000 freelancers and tech enthusiasts simultaneously.T...

Punjab Chief Minister Maryam Nawaz has announced the launch of a property transfer service to protect overseas Pakistanis from potential fraud. Chief Minister Maryam Nawaz announced this initiative during a special meeting with the Punjab Board of Revenue. This service will offer e-filing, land registration facility, and mutation facility to overseas Pakistanis especially those residing in the US, UK, KSA, and other Gulf countries. She also directed the officials of this initiative to a...

LDA extends its Jurisdiction to Kasur, Sheikhupura and NankanaThe government of Punjab has issued directives to the officials of Kasur, Sheikhupura, and Nankana Sahib with an instruction to transfer records of concerned private housing societies to the Lahore Development Authority (LDA).LDA has regained its authority to approve private housing projects and land use conversion cases. The Government has authorized the LDA to resume its operations related to the land use and approval of priva...

KPK introduced a New Centralized Property Tax Management SystemKPK Government has introduced a Geographical Information System (GIS) based centralized urban immovable property tax management and information system called (CUIPTIMIS) to modernize the whole property tax system across the Khyber Pakhtunkhwa (KP).As per the sources, a launch event was arranged at the Chief Minister’s House in Peshawar where many notable personalities were present including KP Chief Minister as Chief Guest. Thi...

36 Projects worth 24 Billion USD completed under CPECMuhammad Sami Saeed, caretaker planning, development, and special initiatives Minister has announced the successful completion of 36 projects worth 24 USD Billion under the hood of CPEC. Sami Saeed also informed us about the updates on the Gwadar project and announced the completion of the master plan for the Gwadar city project. He also shared the progress on the East Expressway and international airport in the region. Minister Sami Saeed...

CDA to auction 35 commercial plots in Major city areasCapital Development Authority (CDA) has announced details about an upcoming auction for commercial plots in Islamabad. According to the sources, this auction is scheduled to take place from 10th January to 12th of January at Ghandra Hall, F9 Park. The listed commercial plots in the auction are exactly 35 and on the first day of the auction, only 11 plots will be presented, 10 plots on the second day, and 14 plots on the third day of the a...

CDA to Automate property recordsCapital Development Authority (CDA) has announced the automation of residential and commercial property records in the federal capital. CDA Chairman Anwarul Haq headed a CDA Development Working Party which sanctioned a whooping PKR 170 million PC1 for this automation initiative. Other officials from finance and planning departments also attended this meeting. This Automation project is said to be awarded to a government firm on a government-to-government bas...

CM Punjab issued orders to ensure timely issuance of NOCs to investorsCM Punjab Mohsin Naqvi has issued orders to the authorities to ensure the timely issuance of No Objection Certificates (NOCs) for the convenience of investors and businessmen.CM Punjab also visited the Business Facilitation Centre (BFC) Lahore and conducted a thorough inspection to assess the efficiency of the operation which is made to cater the investors, both domestic and foreign. CM Punjab also took notice of the pro...

Punjab Business Facilitation Centre to be established in LahoreSM Tanveer (Provincial Minister of Industry and Commerce) announced to inaugurate Lahore's first-ever business facilitation centre. This Business Facilitation Centre will serve as a full-fledged destination for investors and businessmen seeking approvals, NOCs and other facilities for establishing factories in the Punjab province. This centre will be located on the ground floor of the Punjab Small Industries Corporation (PSIC)...

South Punjab Additional Chief Secretary (ACS) has directed the administration to launch an e-registration system for property registry in the region for better transparency and ease.The ACS has ordered the relevant authorities to take measures for improving good governance and service delivery. With this digital system, public complaints about fraud and corruption will be addressed and it will be further linked with e stamp, land record management system, national database, and registration...

On May 24, Lahore High Court (LHC) instructed the Lahore Development Authority (LDA) to collaborate with the Urban Development Unit and advised both authorities to devise terms of reference (ToRs) for the revision of the Lahore Master Plan 2050.The Lahore High Court also advised LDA to hire a focal person for this task while extending a stay on the implementation of the Lahore Master Plan 2050. These Orders were given by Justice Shahid Karim while presiding over a petition to challenge the...

The Baluchistan Government has granted Gwadar a Special Economic District (SED) status to promote developments and other port activities in the area. The main idea behind this proposition is to implement professional policies formulated by the government.This SED status will attract more investors in this region and stimulate economic activities in this region. This initiative will welcome more avenues for business expansion, international trade, and industrial development, which is the true pot...