Lahore: The Lahore Development Authority (LDA) and the National Database & Registration Authority (NADRA) have signed a memorandum of understanding (MoU) for conducting biometric verification of the people conducing property transactions city wide, a news source reported. The authorities concerned plan to control fraud committed in the sale and purchase activities concerning both residential and commercial real estate.
For conducting the verification, NADRA will charge its fee according to the biometric verification’s processing category, applicants’ status verification and family verification. The charges will be exclusive of provincial and federal taxes. Furthermore, the services NADRA will provide under the agreement shall be exclusive of all the present and future federal and provincial taxes.
The LDA has signed this agreement to control frauds in the property transactions conducted for commercial and residential properties in several areas of Lahore; including Gulberg, Township, Johar Town, Garden Town, Muslim Town, and Faisal Town.
Under this agreement, NADRA will install its biometric system to verify particulars of an applicant looking to transfer, buy or sell properties situated in a number of housing schemes in Lahore.
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.
