KP Government Introduce the Automated Property Tax Plan

Peshawar: The successful implementation of the Centralized Urban Immovable Property Tax Management and Information System (CUIPTMIS), a GIS-based system by the KP government, substantially improved tax collection and the efficient management of public resources. This system transforms the property tax framework into a transparent, automated, resilient mechanism.

The recently introduced Management and Information System (MIS), finalized at an expenditure of Rs95.898 million, is initially deployed in the districts of Nowshera and Abbottabad, with future implementation intended for the entire province.

Tax revenue has been substantially increased in these districts due to the identification of 50,938 new property units; in Nowshera, demand has increased from Rs69 million to Rs123 million, and in Abbottabad, it has risen from Rs83 million to Rs 143 million.

Read more on EL News: Pak-China to Sign Beijing Loan for ML-1 Project.

During the inauguration, the chief minister expressed his appreciation to the Excise and Taxation department for this significant undertaking, highlighting its dual purpose of augmenting tax collection efficiency and facilitating taxpayers’ lives via an integrated online system and grievance redress mechanism.

He emphasized the expected increase in revenue that will arise from including additional property units in the valuation list. He also mentioned that the efficient UIP Tax Management and Information System allows individuals to conveniently remit taxes through online platforms from the comfort of their homes, thereby resolving past difficulties associated with tax payment procedures.

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Commercial Property for Sale in Islamabad | Detailed Guide

Commercial property for sale in Islamabad is the first question that arises in the investor’s mind. Islamabad is a thriving metropolis whose economy is expanding at a steady rate. Moreover, the urban area presents many investment prospects, specifically within its rapidly growing commercial real estate industry. Increasing demand for retail establishments, hospitality facilities, and workspaces in Islamabad makes commercial real estate investments attractive for domestic and foreign investors. Lastly, this blog will explore the multifaceted aspects of commercial real estate for sale in Islamabad. Also, they offer valuable perspectives on profitable locations and deliberate on critical considerations before investing.

Commercial Property for Sale in Islamabad

The commercial property for sale in Islamabad comprises various property varieties designed to accommodate specific business requirements. Modern co-working spaces and traditional office buildings abound in the city’s selection of office space options for organizations of every scale. Furthermore, Islamabad is home to an expanding consumer market, which creates a conducive atmosphere for establishing retail outlets such as boutiques, stores, and large-scale shopping centers. Also, hospitality venues like business travel and tourism are increasing, and hotels, restaurants, and banquet venues are in greater demand throughout the city.

Lastly, warehouses and industrial plots are optimal for storage, logistics, and manufacturing companies searching for more expansive areas and infrastructure. Like commercial, Islamabad Real Estate Rentals are also incredible option to invest.

Commercial Real Estate Sites

Islamabad Real Estate Markets are widely known for its optimal sites. Moreover, commercial property for sale in Islamabad is known for its high visibility, strategic locations, and outstanding infrastructure. Crucial aspects to contemplate encompass:

  • Blue Area: The preeminent commercial zone of Islamabad, distinguished by its towering structures, headquarters of multinational enterprises, and affluent retail establishments.
  • DHA: DHA (Defense Housing Authority) Deliberate commercial zones in the well-planned municipality of Islamabad provide lucrative opportunities for commercial real estate.
  • Promising commercial centre Gulberg Greens boasts state-of-the-art infrastructure and substantial prospects for future expansion.
  • Bahria Town is an area undergoing significant development, renowned for its office spaces, shopping centres, and commercial plots.
  • Commercial establishments along the Islamabad Expressway frequently accommodate enterprise operations and commuter traffic.

These options are the best property investment in Islamabad. It is so, considering them will be beneficial.

Investments Considerations

Before looking for commercial property for sale in Islamabad, it is critical to consider the following factors thoroughly. Consider its customer demographics’ proximity to key transportation hubs. And the existence of complementary businesses when determining its location. Property type also matters. Determine whether office spaces, retail establishments, hospitality venues, or industrial complexes correspond to your investment objectives. Moreover, zoning regulations are also considerable. So, conduct exhaustive research on building permits and zoning laws to ensure your intended use is accessible in the designated area.

Market trends encompass an evaluation of rental yields, vacancy rates, and current market prices to obtain a holistic comprehension of the prevailing economic environment. Lastly, to purchase a commercial property under construction or off-plan, investigate the developer’s reputation and track record for on-time deliveries and high-quality construction. Several Real Estate Companies in Islamabad will help make the beneficial investment.

Additional Tips & Guidelines

Consider the following guidelines in addition to those mentioned earlier when investigating commercial property investment opportunities in Islamabad:

  • Collaborate with a Credible Real Estate Agent: Establish a rapport with an experienced commercial real estate practitioner with comprehensive regional market knowledge.
  • Consult Legal Counsel: Ensure that a qualified professional reviews legal documentation to safeguard your investment and prevent complications.
  • Perform Extensive Due Diligence: Thoroughly assess all potential liabilities and hazards associated with the property under consideration.
  • Long-term Prospects: Consider the area’s future development plans and the appreciation of your investment over time.

Commercial Investment Future Prospects

The commercial property for sale in Islamabad is optimistic due to the following factors. The expansion of businesses is stimulated by Pakistan’s expanding economy, increasing the demand for commercial real estate. Also, it elevated urbanization as the continuous influx of inhabitants into Islamabad increases the need for commercial spaces. Moreover, the China-Pakistan Economic Corridor (CPEC) project and favourable government policies catalyze foreign investment and urban development in the region. Lastly, the Islamabad Property Market has several benefits for its investors.

Conclusion

Investing in commercial real estate in Islamabad holds the potential for lucrative returns due to the city’s transformation into a prominent regional centre for commerce. Investors can access this promising market by exercising meticulous strategic forethought, considering critical variables, and seeking counsel from industry experts. Staying updated on the most recent market developments and regulations is crucial to remain well-informed. Also, to take advantage of the optimal opportunities that Islamabad’s dynamic commercial property landscape offers. Lastly, Estate Land Marketing has the best commercial real estate investment opportunities. So, consult them before making any long-term profitable investments.

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Pak-China to Sign Beijing Loan for ML-1 Project

Islamabad: The forthcoming Pakistan Government will soon finalize the terms and conditions of a loan from Beijing for the Main Line-1 (ML-1) project of Pakistan Railways (PR) in Islamabad.

Amir Ali Baloch, chief executive officer (CEO) of PR, asserts that, except for the financing agreement with the Chinese authorities, every facet of the undertaking has been attended to. The procedure entails a discourse between governments, during which the loan agreement is finalized under the guidance of the incoming administration.

This dialogue addresses matters including interest rates and repayment durations. Mr. Baloch affirmed that, except for the loan agreement, all other project-related matters have been resolved, including a supplement about the project’s cost.

Read More on EL News: WAPDA to Initiate the Swat River Diversion at Mohmand Dam Project

The ML-1 project, an integral component of the China-Pakistan Economic Corridor (CPEC), has experienced modifications that have resulted in a decreased initial cost of USD 9.85 billion to USD 6.678 billion. This modification was formally established by means of an addendum to the CPEC’s framework agreement, which was affixed during the Belt & Road Initiative (BRI) forum in October 2023.

As per the amended strategy, the undertaking comprises four distinct stages that traverse a 1,726-kilometer extent from Karachi to Peshawar. The objective of the upgrade is to initially elevate the design speed to 140 kilometers per hour, with the possibility of an additional 160 kilometers per hour being achieved upon the finalization of supplementary infrastructure enhancements.

Moreover, Pakistan Railways is expanding its modernization initiatives in the future months to incorporate cutting-edge restaurant-on-wheel services onto three express trains.

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Islamabad Property Market Comprehensive Investment Guide

Islamabad property market has several perks and privileges for prospective investors. Islamabad, the administrative center of Pakistan. Also, it is widely recognized for its tranquil surroundings and meticulously designed plan. And a way of life harmonizing sophisticated urbanism with picturesque serenity. The real estate sector in Islamabad has consistently attracted local and foreign investors’ attention due to its consistent expansion, and stable atmosphere. Moreover, due to its encouraging financial gains. Also, this blog post aims to provide an in-depth analysis of the property market dynamics in Islamabad. It will investigate the city’s attractiveness as an investment destination. The trends influencing its future, and essential information for potential investors. Lastly, if you are willing to buy property in Islamabad, this blog is for you.

Understanding the Property Market in Islamabad

The Islamabad property market is famous for its comprehensive commercial properties, residential sites, houses, and apartments offerings. Moreover, sectors and zones comprise the city, each with its characteristics, amenities, and price range. The city showcases the craft of the Capital Development Authority (CDA), which has ensured the provision of sufficient green spaces, wide highways, and strategically placed commercial districts.

Growth Factors

Numerous elements contribute to the expansion and appeal of the property for sale in Islamabad:

Strategic Location: Situated near Rawalpindi and against the Margalla Hills, Islamabad provides a distinctive combination of readily accessible areas and picturesque landscapes. The property’s advantageous positioning makes it desirable for residential and commercial use. Moreover, Islamabad Real Estate Rental is also profitable due to its prime location.
Economic Development: Significant economic development is occurring in Islamabad, as evidenced by the proliferation of new businesses, IT campuses, and academic institutions. Furthermore, this economic expansion inspires individuals nationwide to invest, augmenting the need for commercial and residential real estate.
Infrastructure and development initiatives: Property values have benefited from ongoing and forthcoming infrastructure projects, including the New Islamabad International Airport, the Metro Bus service expansion, and the Islamabad Expressway. Lastly, these endeavors have substantially enhanced connectivity.

Investment Hotspots

The following sites in Islamabad are renowned for their substantial investment potential in property for sale in Islamabad. Here are some of the best property investments in Islamabad.

– Upmarket investors favor DHA Islamabad due to its meticulously designed infrastructure, impeccable security, and first-rate living amenities.
– Bahria Town is renowned for its elevated standard of living, fortified surroundings, and contemporary conveniences, all of which appeal to an investor demographic ranging from middle-income to high-income.
– CDA Sectors such as F-6, F-7, and F-8 boast ideal commercial and residential properties and are among the oldest and most prestigious.
– Recent Advancements emerging as new investment frontiers, including the Islamabad Capital Territory (ICT), Gulberg Green, and B-17 Multi Gardens, present an array of prospects for investors seeking sustainable long-term development.

Market Trends

Presently, the Islamabad property market is observing several significant trends. So, let’s explore the Islamabad Real Estate Market.

Apartment Living: there is a demand for apartments in the Islamabad property market. An increasing preference for apartment living is evident, primarily propelled by the younger demographic and their requirement for secure, low-maintenance living environments. This trend encourages developers to concentrate on opulent apartments in high-rise buildings.
Enhanced Inflow of Foreign Investment: Increasing numbers of overseas Pakistanis, primarily from the United Kingdom, the Middle East, and the United States, are investing in Islamabad’s real estate market due to the city’s growth and the potential for high returns.
Concentrate on Gated Communities: Gated communities’ integrated facilities, security, and communal living environment contribute to their popularity. This trend is influencing the trajectory of residential construction in the city moving forward.

Challenges & Consideration

Although the property market in Islamabad presents encouraging prospects, investors must also remain aware of specific obstacles:

Regulatory changes: The Pakistani government regularly implements novel tax policies and regulations that impact the real estate sector. To make informed judgments, investors ought to remain updated on these modifications.
Verification of property titles: It is vital to conduct due diligence before investing in real estate. Verifying land titles and certification documents is crucial to prevent legal complications, particularly in newly developed areas.
Market Fluctuation: Similar to other property markets, the Islamabad property market is susceptible to volatility by its economic, political, and social influences. Investors ought to embrace a long-term outlook to effectively navigate phases of high volatility.

Future Prospects

The Islamabad property market appears to have a bright future, as urban expansion, infrastructure development, and rising demand for residential and commercial spaces will all contribute to its sustained expansion. Predictably, investor confidence increases by the government’s efforts to facilitate property transactions and enhance the investment climate. Also, for better decision-making, several real estate companies in Islamabad are available for all investors.

Conclusion

The Islamabad property market is famous for its stability, potential for growth, and high quality of life. Regardless of one’s level of investment experience, acquiring knowledge about market dynamics, remaining updated on current trends, and performing comprehensive due diligence are essential strategies for maximizing the potential benefits presented by this dynamic market. Due to its ongoing progress and the growing attention from domestic and international investors, the Islamabad property market is accessible to experience consistent expansion in the foreseeable future, rendering it an appealing investment locale in the surrounding area. Lastly, Estate Land Marketing is the right platform to make your next investment in Islamabad.

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WAPDA to Initiate the Swat River Diversion at Mohmand Dam Project

Peshawar: Wapda plans to forward the Swat River at the Mohmand Dam, currently under construction in PESHAWAR. Per the established schedule, the project’s diversion system is progressing consistently toward completion.

The dam is being built across the Swat River. In addition, the chairman oversaw a progress review meeting held at the project office, during which he was briefed on the slope excavation, diversion scheme, and slope stabilization and concreting at the spillway.

In addition, the meeting was provided with an update on the powerhouse support works, irrigation tunnel excavation, structures being built across the canals, and the completion of the permanent access roadways on both the river’s right and left banks.

Also, Read on EL News:  CDA Residential Sectors faces slow development.

It was communicated to the meeting that the workplaces and personnel had been transferred indefinitely to the recently built facilities near the undertaking. Additionally, the remaining staff would occupy a limited number of finished structures.

The chairman of Wapda, underscoring the importance of an expeditious dam completion, ordered the deployment of additional resources to accelerate quarry development activities for the dam, according to the press release.

The completion of the multipurpose Mohmand Dam is slated for 2026. Eight hundred megawatts of installed capacity and 2.86 billion units of annual electricity generation are featured.

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CDA Residential Sectors faces slow development

Islamabad: In several of the Capital Development Authority’s (CDA) residential sectors, construction is moving at a glacial pace due to problems with land possession and disagreements with contractors.

With approximately 2,000 plots, these areas have the potential to be significant in helping the nation’s capital overcome its housing crisis. A new sector has yet to be developed by the civic agency, even though this is the CDA’s primary responsibility (F-11 and D-12).

The civic authority is developing six sectors in the federal capital: E-12, C-14, C-15, C-16, I-12, and I-15. The other residential sectors, except C-14 and C-15, show slow development.

Despite 34 years, development work is still not finished in E-12, one of the oldest sectors that began in 1989.

Legal disputes between contractors and land ownership impact E-12, C-16, I-15, and I-12 development projects.

A contractor was recruited in 2020 to develop sub-sectors 2 and 3 after development work in two sub-sectors had already begun a few years earlier.

Read More on EL News: CDA will Build a Housing Project in Collaboration With Private Corporations

The contractor began work in December 2021, and the project was due in June 2023. The CDA terminated the agreement with the contractor last year because he abandoned the unfinished project. A fresh tender could not be issued because the contractor had taken legal action against the CDA.

In December 2022, development activity in this sub-sector began concerning E-12/1. Half of the job is done now. The CDA had originally sought bids for development work in sub-sector E-12/4 in 2022, but “adverse possession of land” prevented the projects. At some point, the bid validity time ended, and CDA is now required to start the bidding process.

The CDA has granted extensions to the contractor, allowing them to finish the construction work in Sector I-12 later than the original December 2023 deadline. According to sources, The job will still be outstanding when the fiscal year concludes in June. Similarly, the service roads in this area have also been behind schedule for a while.

With the development of its two sub-sectors, the I-15 sector is doing somewhat better than the sectors above. The development work is currently underway in one of the sub-sectors. However, the contractor for sub-sector one has resigned, and the CDA will be inviting alternative bids.

Also Read: Rawalpindi Historic Library Renovated & Renamed

During the current fiscal year, the C sectors (C-14 and C-15) are anticipated to be finished developing. There has been a holdup in C-16.

The CDA had previously given contracts for two of the four sub-sectors, but after a few months of work, the landowners demanded compensation and an award for built-up property, and the project came to a standstill. Construction on the other two areas could not begin because of problems with land ownership.

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CDA will Build a Housing Project in Collaboration With Private Corporations

Islamabad: The Capital Development Authority (CDA) has decided to work with a private entity to build housing endeavors.

The housing development, designated as the “Kurri Enclave Housing Scheme,” is scheduled to take place on a 10,000-kanal plot in the village of Kurri.

The CDA reportedly owns the land; however, the billions of rupee-investing project would be developed in collaboration with a consortium of firms or a prominent real estate developer.

Read More on El News: CDWP Approved Indus Basin Irrigation System

The board of CDA had previously authorized the initiation and expansion of housing initiatives involving private sector involvement.

Additionally, the governing body had issued Expressions of Interest (EOIs) to select reputable firms to carry out the undertaking. The established real estate firm would allocate funds towards project construction and development.

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Rawalpindi Historic Library Renovated & Renamed

Rawalpindi Historic Library Renovated & Renamed

Rawalpindi: Following its renovation, the 145-year-old Rawalpindi Municipal Library, a public space in the garrison city, received both a new appearance and a new moniker.

‘Allama Iqbal Library’ is the new designation for the institution. The library, situated adjacent to Liaquat Bagh on Murree Road and spanning three Kanals, features a cozy atmosphere, air conditioning and heating, a more incredible selection of literature, and Internet access.

Personal computers have been installed to enhance visitors’ internet access. The interior of the building, which was reconstructed in 2018 with the assistance of a World Bank loan, was renovated at the expense of Rs25 million by Rawalpindi Municipal Corporation (RMC).

From 2013 to 2018, the PML-N government in Punjab obtained a $150 million loan from the World Bank intending to enhance public infrastructure in five prominent cities within the province, namely Rawalpindi, Lahore, Faisalabad, Multan, and Gujranwala.

As a grant-in-aid, the provincial government allocated funds to these cities; however, the Punjab government is currently repaying the loan.

Read more on EL News: CDA Initiates the Cleanliness Drive in Capital’s Markets

Despite expanding the library’s membership to 8,000, the number of active members remains 200. 1980 saw the construction of the previous structure, which underwent reconstruction in 2018.

The library, a century old, is now known as the Allama Iqbal Library.

Following the destruction of the library by a catastrophic flood in Leh Nullah in 2001, District Nazim Raja Tariq Mehboob Kiani secured financial support from various governmental and private entities to restore the library to operational status. Commissioner Liaquat Ali Chatha launched the initiative in 2024 to enhance the library’s interior and provide students with more convenient resources.

He stated that the library would undergo additional enhancements in the coming days in response to the students’ suggestions. “The annual renewal fee for library memberships will be Rs50, while the initial membership fee of Rs250 has been kept extremely low.” In addition, six computers, lockers for students, and a chamber for children have been installed.

As an additional display of benevolence to encourage a culture of reading, he stated that students who visited the library would be offered complimentary tea. He noted that the library has over 50,000 volumes, of which approximately 800 are designed for competitive examinations.

Also Read: CDA Launched a Digital Platform for Online Property Verification

He explained that to prevent any disruption to the studies of male and female students participating in competitive examinations, separate spaces had been designated for them. Similarly, designated areas should be created for individuals to peruse periodicals and newspapers.

To oversee library affairs, he stated that the nine-member committee would be duly informed shortly. He stated that the committee would administer the funds for the library’s gratis services, which the Rawalpindi Municipal Corporation would provide.

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PM Request CDA to Concentrate on Vertical Building Construction

PM Request CDA to Concentrate on Vertical Building Construction

Islamabad: Caretaker Prime Minister Anwaarul Haq Kakar instructed the Capital Development Authority (CDA) to prioritize the construction of vertical buildings to house the greatest number of people rather than allocating valuable agricultural land for employee plots.

The Federal Cabinet was briefed on the policy regarding the allocation of properties to CDA employees in response to the ruling of the Islamabad High Court.

Read more on EL News: RDA Facilitation Center Issues NOCs to New Businesses.

As per the ruling of the Islamabad High Court, the CDA was obligated to offset the variance in its revenue by offering plots to its employees at discounted prices. The cabinet postponed the resolution regarding the suggested policy of allocation.

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CDWP Approved Indus Basin Irrigation System

CDWP Approved Indus Basin Irrigation System

Islamabad: the Central Development Working Party (CDWP) in Islamabad has approved a substantial irrigation project called the Automated Indus Basin Irrigation System (IBIS), estimated to be worth PKR 23.835 billion.

CDWP sanctions one initiative, and three are proposed to ECNEC for approval. The details indicate that the project was discussed at the P-Block Secretariat during a CDWP meeting presided over by the Deputy Chairman of the Planning Commission, Dr. Muhammad Jehanzeb Khan.

The funding for the modernization of the IBIS is anticipated to be provided via the Public Sector Development Program (PSDP), with the Indus River System Authority (IRSA) contributing PKR 500 million from its funds. The Water and Power Development Authority (WAPDA) has been entrusted with the project’s execution responsibilities, which fall under the jurisdiction of IRSA.

Read more on EL News: WB Funded PRR Project Seeks One-Year Extension.

This equipment will mitigate control challenges and prevent disputes between provinces by delivering real-time data on water flow and gate positions. The primary objectives of this endeavour are to bolster trust and foster harmonious relations between provinces through promoting transparency, fair water distribution, and adherence to the Water Apportionment Accord of 1991.

In addition, it is anticipated that the finalization of the project will foster social, agricultural, and industrial progress while generating job prospects during its implementation and upkeep stages. It is crucial to acknowledge that IRSA, authorized by a 1992 Act of Parliament, administers and allocates surface waters to provinces in compliance with the Water Apportionment Accord 1991.

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