Punjab Province

Lahore: [Riaz Hussain Re News Pakistan]
A major development has emerged for Lahore’s real estate market, particularly in DHA, as the Federal Board of Revenue has issued a notification and released new rates after a significant reduction in FBR property valuations. The move is expected to generate a positive response in the market.
According to Chaudhry Touqeer Asif, Director Information of the DHA Estate Agents Association, the reduction in FBR rates will further decrease property transfer costs. As a result, new investment, buying and selling activity, and overall real estate business are expected to improve.
He said that after the abolition of Section 7E, the reduction in FBR rates is another welcome step toward restoring confidence in the property sector. According to him, the decision will not only provide relief to buyers and investors but will also help revive stalled transactions in the market.
It was further stated that implementation of the new FBR rates has already begun in DHA, a move being viewed by the real estate community as a positive development. Experts believe that if the reduction in taxes and transfer costs continues, property market activity could increase further in the coming days.

Lahore: [ReNews Pakistan]
The Lahore Development Authority has generated more than Rs 2.11 billion through an open auction of residential and commercial plots held at Expo Centre Johar Town.
According to details, the auction included 58 residential and commercial properties located in different LDA controlled areas of Lahore. The properties offered for bidding included education sites, hospital sites, commercial plots, petrol pump sites, marquee sites and commercial buildings.
The auction attracted strong interest from investors and business groups, particularly for petrol pump sites and commercial properties situated in prime locations.
Among the major transactions, leasehold rights of Plot No 1 B at the Finance and Trade Centre Johar Town petrol pump site were auctioned for Rs 184.5 million. Another petrol pump site in Avenue One Block B received a bid of Rs 85.5 million.
Similarly, Plot No 29 at Civic Centre Quaid e Azam Town, designated as a petrol pump site, was auctioned for Rs 66 million. Plot No C62 to C73 in Block B 3 Gujjarpura also attracted a significant bid of Rs 67.5 million.
Marquee sites at the Finance and Trade Centre Johar Town also received notable interest during the auction. Leasehold rights of Plot No 7 A were auctioned at an annual rent of Rs 46.5 million, while Plot No 7 B fetched an annual rent of Rs 43.5 million.
Among commercial plots, Plot No 24 in Commercial Zone Avenue One was auctioned for Rs 53 million. Commercial plots located in Jubilee Town, Allama Iqbal Town, Sabzazar, Mustafa Town, LDA City, Johar Town and Tajpura also received major bids.
Officials said the auction reflected continued investor confidence in Lahore’s real estate and commercial property market. The revenue generated through the auction is expected to support the authority’s development and urban management initiatives across the city.

Rawalpindi: [ReNews Pakistan]
Work on the Rawalpindi Ring Road project has entered its final phase, with around 85 percent of construction completed, while the PC1 for the Thallian Interchange has also been approved at an estimated cost of PKR 4.8 billion.
According to project details, the total cost of the Rawalpindi Ring Road, including the Thallian Interchange component, has reached PKR 51.4 billion. Officials said the 38.6-kilometre corridor is being developed as a major infrastructure project aimed at improving regional connectivity, reducing traffic pressure within Rawalpindi city, and providing a faster link between key routes around the district.
The project includes important interchanges at Banth, Chak Beli Khan Road, Adiala, and Chakri, where construction work has also reached an advanced stage. Officials associated with the project said that work on the main route and its interchanges is progressing steadily, while around 15 percent of the remaining work is still pending.
The Ring Road is expected to be opened for traffic by mid-June. However, officials confirmed that the road will initially become operational without the Thallian Interchange, which will be completed and opened separately in a later phase.
The Thallian Interchange, along with a two lane motorway link road beyond it, will be developed by the National Highway Authority. The interchange is considered an important component of the overall project as it will provide improved access to the motorway network and strengthen the road’s role as a regional transport corridor.
Sources in the Rawalpindi Development Authority, which is executing the main Ring Road project, said funds required for land acquisition for the Thallian Interchange are already available within the overall project cost. They added that construction activity on the main corridor is being monitored closely to ensure timely completion.
Once completed, the Rawalpindi Ring Road is expected to play a significant role in easing urban congestion, improving goods movement, and supporting future commercial and residential development along the route.