Capital Administration is taking steps to revolutionize RE (Real Estate) sector by launching Online Property Verification for transparent transactions.
What is being termed a revolutionary step?
The Capital Administration has announced plans to launch a system for online property verification in Islamabad. With the launch of this system, people will now be able to verify the authenticity of any real estate project from the office of Deputy Commissioner (DC) Islamabad before investing their hard-earned money in it.
It is important to mention that a whopping Rs4-5 billion gets stuck daily in our real estate sector due to unapproved and unverified RE projects being on the rise.
On Sunday, Prime Minister Imran Khan, in a series of tweets, said that via Cadastral Mapping, it had been found that the total value of encroached State land was Rs5.59 trillion. The premier pledged to take stern action against land grabbers and their accomplices in the light of the findings.
According to the survey, the value of encroached land in Karachi, Islamabad, and Lahore stands at Rs2.63 trillion.
Cadastral Mapping of Islamabad
In September this year, the PM launched the Cadastral Mapping of Islamabad to eliminate land grabbing and ensure transparency in RE transactions.
Cadastral Mapping is a comprehensive system that highlights the boundaries of land subdivisions, helps determine the property’s location, indicates its size and shape, and reveals geographic relationships that affect property valuation.
The informative blog by Graana.com explains the need and role of Cadastral Mapping in detail.
