In This Post:
Benefits of digital land records
FBR’s digital survey
UPDATE: (Jan. 16, 2021): Prime Minister Imran Khan said digitisation of land records was vital for the assessment of people’s residential requirements during a meeting of the National Coordination Committee on housing, construction and development.
Naya Pakistan Housing Authority chairman retired Lt Gen Anwar Ali Haider updated the premier on the performance of the provinces in this regard while the provincial chief secretaries revealed all the measures taken to move towards digitisation of land records.
The prime minister highlighted how the availability of digital land records would help the real estate sector in terms of planning and tackling ‘land mafia’.
Backed by the recent wave of digitisation in Pakistan, the Federal Board of Revenue (FBR), quite recently, announced to conduct a digital survey of all the immovable properties situated across the country. As per the official statement, this digitisation of land records will help the government in two ways: to trace undeclared assets and to tap the hidden potential of Pakistan’s real estate sector.
Keep scrolling to find out how the FBR plans to conduct this survey and uses digitisation to resolve land record issues in Pakistan. We will also mention the duration of the digital survey, and how the FBR’s property valuation will transform the future of Pakistan’s property market.
As per usual, we will begin with understanding the meaning of digitisation in the real estate sector and the many benefits attached to it.
Let’s get digital!
Digitisation of Land Records – Meaning, Benefits, and More
Digitisation, as the term implies, will create digital copies of the records of immovable properties. As of now, only physical copies of the records exist, and these records are aimed at bringing the number of landowners of a particular region in black and white. As per Pakistan’s property law, the documentation of urban land record management requires:
- Property owner’s name
- Tehsil
- Taluka
Additionally, the primary aim behind the digitisation of land records is to provide a detailed list of property owners, from its origins to its present owner. Pakistan stands among the many countries that have access to the internet and almost every person owns a smartphone, no matter how far-flung their place of birth or residence is. So, if every sector aims to contribute to the digital advancement in Pakistan, there’s no better approach to it than digitisation of records and mobilising the workforce’s tasks and functions digitally. Besides, digitisation also guarantees better access to information.
It is no secret that digitisation of the real estate sector has gained momentum in various countries of the world, and Pakistan is no different, particularly in this matter. Let’s take a look at the benefits that digitisation will afford both the country’s economy and property owners.
To begin with, the digitisation of land records in Pakistan can exceptionally boost the growth of the Gross Domestic Product through regularising taxes and by unlocking the hidden potential of the country’s real estate sector. It is only natural to see a significant improvement in productivity when tech-powered automation is tasked with arranging, organising, maintaining, and doing most of the clerical work.
We understand that not everyone agrees to it when it comes to changing the centuries-old methods of keeping records, regardless of how imperfect and dependant the process is. No matter how fierce the debate of Pakistan’s real estate market going digital gets, we cannot deny that it will create a long-lasting social and environmental impact by incorporating social justice and equality.
Switching to screens means ditching papers, which means using fewer resources and maximising productivity. Not only does going digital mean more sustainability, but it also provides people an elevated method of working and living. The government also gets to enjoy more investments with better client services and user interaction.
That said, here are some additional benefits of digital land records:
- Digitisation means transparency in the system – which leads to greater trust between buyers and sellers.
- A single portal for updating land records, maps, surveys, and several other property transactions will save time and attract more investors.
- The ownership/title of the property will be easier to clarify.
- A simplified method for transferring or selling a property.
- Decreased number of property disputes.
Now that you have a clearer understanding of why digitisation of land records is pivotal for the future of Pakistan’s property market, let’s discuss how the FBR is planning to conduct a digital survey of immovable properties in Pakistan.
On a side note, if you want to find out more about immovable properties, including the basic categories of land in Pakistan, navigate to our recently published post now.
Federal Board of Revenue’s Decision to Conduct a Digital Survey of Immovable Properties in Pakistan
Adding to what we mentioned at the beginning of our blog, the FBR is planning to conduct a digital survey of immovable properties across the country coupled with the digitisation of land records in Pakistan. The recently announced decision by the FBR to digitise the real estate sector in Pakistan was followed by the Chinese proposal of using geotag technology to evaluate the overall wealth parked into Pakistan’s property market.
Commenting on the geotagging and the digital survey of properties, officials from the FBR said that the process will be carried out in the next two years, and it will majorly tap the massive and hidden potential of the real estate sector in Pakistan.
Giving the nod to FBR’s decision to conduct a nationwide digital survey of land records, Prime Minister Imran Khan has also approved an ambitious plan for tax assessment, which will also assist in unleashing the growth of Pakistan’s real estate sector.
Coupled with the implementation of a new value-added tax system, this survey was launched on 30th November, and it will be completed within two years. Once the drive nears its completion, a detailed proposal for further planning will be submitted, which will be aimed at providing solutions for the untapped growth in the real estate sector.
Given the drive’s importance and need, officials have mutually agreed to involve the Ministry of Interior and Ministry of Defence to reach its destination.
What are your views on digital land record system in Pakistan? Write to us at blog@zameen.com.
Pro Tip: If you want to explore more about the best schemes to acquire a property in Lahore, consider reading our digital area guides on Jallo, Al Riaz Colony, Ghous Garden, Al Madina Road, and Al-Hamd Garden.
For more informative posts, subscribe to Zameen Blog.
