Lahore: The Punjab government has initiated a revision of property valuation rates in an effort to attract investment from Gulf countries, particularly the United Arab Emirates (UAE), and revive activity in the real estate sector.
According to officials, the move aims to bring official property valuations closer to actual market prices while addressing concerns raised by overseas Pakistanis and foreign investors regarding high transaction costs and taxation.
The initiative was discussed during high-level meetings involving Punjab government officials and representatives of the UAE business community. Authorities believe more realistic valuation rates could improve investor confidence and encourage greater participation in Punjab’s real estate market.
Officials said the revision process will focus on major urban centres and investment corridors where property transactions have slowed due to increased taxes and valuation disparities in recent years.
The government is also considering additional reforms to simplify property transactions and create a more investor-friendly environment for overseas buyers.
Pakistan’s real estate sector has faced challenges amid rising taxes, higher construction costs, and reduced purchasing power. Industry stakeholders have repeatedly called for rationalised valuation rates to stimulate market activity and attract foreign capital.
The revised valuation framework is expected to be finalised after consultations with relevant departments and market stakeholders.
Samra Zulfiqar, a real estate analyst at Zameen.com, is passionate about finding projects that offer buyers the best returns. Her keen insights spotlight the market’s most promising opportunities.
