National Real Estate News

The Federal Board of Revenue (FBR) has revised property valuation rules for rural areas of the Islamabad Capital Territory (ICT) and issued a new schedule of fair market values for immovable property in Abbottabad. The changes were notified on November 5, 2026, through two separate statutory regulatory orders (SROs). Under SRO 2061(I)/2026, the FBR amended SRO 644(I)/2026, issued on April 16, to link valuations in ICT’s rural areas to the latest rates notified by the Additional Deputy Commissioner (Revenue)/District Collector, Islamabad. The change means the applicable values will follow the collector’s updated rate tables rather than a fixed federal schedule. Through SRO 2060(I)/2026, issued under Section 68 of the Income Tax Ordinance, 2001, the FBR replaced the Abbottabad valuation schedule notified in SRO 1679(I)/2024 on October 29, 2024. Under the revised Abbottabad schedule, residential open plots in Main Bazaar, Sadar Bazaar, Jinnah Masjid Bazaar, Sarafa Bazaar, Gurdwara Gali and Kutcheri Road are valued at Rs 1.25 million per marla. The rate for Abbottabad Bazaar is Rs 970,000 per marla, while residential plots on Iqbal Road are valued at Rs 800,000 per marla. Commercial open plots in Main Bazaar and adjoining specified areas have been assigned the highest rate in the schedule, at Rs 5.8 million per marla. Commercial property in Abbottabad Bazaar is valued at Rs 4.4 million per marla, while the rate for Mansehra Road, from Fawara Chowk to Mian Gi Hotel, is Rs 4 million per marla. Other commercial rates include Rs 3.1 million per marla for Jinnahabad, and Rs 3 million for Havelian Bazaar and Nathia Gali Main Road. College Road Mandian, Old College Road Mandian, Comsats Road, Murree Road and Changla Gali have been valued at Rs 2.5 million per marla.

Pakistan’s electricity consumers are facing billions of rupees in additional costs because transmission constraints are preventing cheaper power generated in Sindh and southern Pakistan from reaching major consumption centres in the north. The National Grid Company (NGC), formerly known as the National Transmission and Despatch Company (NTDC), has struggled to transfer available electricity from Thar coal, nuclear and wind sources. As a result, the power system relies more heavily on costlier generation from regasified liquefied natural gas (RLNG) and imported coal, adding to already high electricity tariffs.

The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has criticised the proposed 2027 Power Purchase Price reference, calling for accountability over transmission-related inefficiencies. In its response to the Central Power Purchasing Agency’s petition, the business body said consumers should not bear the cost of a transmission network that cannot deliver cheaper electricity despite available generation capacity. The FPCCI also raised concerns about proposed increases in fixed charges, particularly capacity payments. It argued that additional revenue should not be used to sustain disproportionately high salaries, benefits and administrative expenses for senior officials in power sector entities.

The industry body cautioned that a proposed reduction in variable electricity charges could give the impression of lower tariffs while shifting more of the burden onto consumers through higher fixed charges. At a National Electric Power Regulatory Authority hearing on the June 2026 fuel cost adjustment, transmission constraints were reported to have imposed an annual financial burden of more than Rs 400 billion.

Based on the projected generation of 130,081 gigawatt-hours, that burden amounts to an estimated Rs 3.07 per unit, increasing costs for households and businesses.
Generation costs underline the potential savings from improved transmission. In June 2026, the fuel cost of RLNG-based electricity was Rs 35.5087 per unit, compared with Rs 11.4629 for Thar coal and Rs 2.8501 for nuclear power. Replacing RLNG generation with Thar coal could lower fuel costs by about Rs 24 per unit, highlighting the financial impact of transmission constraints that prevent cheaper electricity from reaching consumers.

Punjab Chief Minister Maryam Nawaz Sharif has directed deputy commissioners across the province to enforce a complete ban on the burning of crop residue, saying the practice is adding to worsening air pollution and smog.
She issued the order during a high-level meeting with deputy commissioners from all districts in Lahore on Thursday.

“Punjab is confronting a serious issue of rising smog levels, and burning of crop residue is adding further to air pollution,” she said. The chief minister said the provincial government was committed to making Punjab an ideal province, with district-by-district beautification plans underway. She expressed concern over delays in implementing the plans in some areas. She criticised the Okara deputy commissioner for failing to give adequate attention to crop-residue burning in the district.

Maryam ordered the formation of special squads to improve governance and road maintenance. She also directed deputy commissioners to repair water filtration plants in their districts and instructed deputy commissioners and additional deputy commissioners to visit hospitals daily and ensure medical facilities were available to patients.

During the meeting, Shoaib Mirza, adviser to the chief minister on the Punjab Performance Management Unit, presented a performance report covering Gujranwala, Attock, Bahawalpur, Murree, Chakwal, Jhelum, Layyah and Sahiwal. The chief minister also called for Punjab to be made free of encroachments and stressed coordinated operations to address the issue.

The Punjab cabinet has unanimously deferred a proposal to cut the commercialisation fee from 20% to 10% of a property’s DC valuation, leaving applicants without immediate relief.
Sources said the fee for declaring a property commercial currently stands at 20% of its DC valuation. In anticipation of the proposed reduction, many property owners had waited for the rate to fall, and several had not paid challans issued for commercialisation cases.

The proposal was deferred amid concerns that the reduction could cause significant losses to the public exchequer. The Lahore Development Authority (LDA) could also face a substantial annual shortfall in commercialisation fee revenue.

The National Accountability Bureau (NAB) Islamabad/Rawalpindi has helped resolve a longstanding dispute over the mining lease for pozzolan in Gaini, Diamer district, Gilgit-Baltistan. NAB said the development secured national resources valued at Rs 123 billion. The Gilgit-Baltistan government has decided to grant a new lease to WAPDA and the Diamer Bhasha Development Company (DBDC). The initiative was taken on the directions of NAB Chairman Lt Gen (Retd) Nazir Ahmed.

Pozzolan is a volcanic material that can be blended with cement to produce roller-compacted concrete. According to WAPDA, extraction and transportation of the material from Gaini began on September 25. It will be processed for use in the main structure of the Diamer-Bhasha Dam, paving the way for roller-compacted concrete placement at the project site.

NAB’s statement did not specify how the dispute was resolved or how the value of Rs 123 billion was calculated. However, at a meeting on strategic water projects chaired by the prime minister in December 2025, the Gilgit-Baltistan administration was directed to hand over reservoir land in Gaini to WAPDA and cancel leases granted within the reservoir area. The meeting also said that, if required, leases for pozzolan deposits outside the reservoir limits could be considered under the applicable rules, while WAPDA was directed to pay royalties to the Gilgit-Baltistan government in accordance with the law.

The prime minister’s earlier directives also called for preventing any party from interfering in Gaini’s pozzolan-related matters to avoid disruption to material supplies for the Diamer-Bhasha and Dasu projects. According to NAB, resolving the dispute and deciding to grant a new lease has cleared the way for continued mining and supply of pozzolan for the major water project.

Lahore Fort’s historic Akbari Gate has been restored after remaining closed since British rule, paving the way for a new public entrance linking the fort with the Walled City.

Authorities plan to install a ticketing booth before opening the gate for visitors and local residents.
A soft launch ceremony was held to mark the restoration of the gate and the Curator’s House, another historic structure within the fort. The conservation work was carried out under the Heritage and Urban Regeneration: Tourism Development in Lahore Fort and its Buffer Zone (HURL) project. Launched in 2022, the project is supported by the Agence Française de Développement (AFD) and implemented by the Punjab Walled Cities and Heritage Areas Authority (PWCA) in partnership with Aga Khan Cultural Service Pakistan (AKCS-P).

PWCA Director General Najmus Saqib said the restored entrance would improve public access to heritage sites, attract tourists and create economic opportunities. Reopening the gate is expected to provide a more direct connection between Lahore Fort and the surrounding Walled City. The Curator’s House, a British-era building that was previously used as a guard room and later for administrative and residential purposes, is set to be converted into an eatery for visitors.

AKCS-P Chief Executive Officer Tausif Khawaja said the conservation work was intended to preserve Lahore’s cultural heritage while supporting local communities and economic activity.

Pakistan Muslim League-Nawaz leader and former Punjab chief minister Hamza Shahbaz Sharif inaugurated the Shah Allah Ditta Buddha Caves Preservation Project in Islamabad on Wednesday, marking a step towards conserving the historic site and promoting Pakistan’s Buddhist heritage.

After the ceremony, Hamza visited the caves, where Secretary of the National Heritage and Culture Division Asad Rehman Gillani briefed him on the project’s completion, features and cost. A documentary on the caves’ history and archaeological significance was also screened, highlighting their association with Buddhist worship and the region’s cultural legacy.

Addressing the gathering, Hamza Shahbaz praised the Ministry of National Heritage and Culture for its efforts to preserve the site. He said Islam teaches respect for other religions, protection of minorities’ rights and safeguarding their places of worship. The project, he added, could improve Pakistan’s international image and make the caves a destination where visitors can learn about the country’s heritage.

Hamza Shahbaz urged the authorities to improve road access to the caves and asked the Federal Minister for National Heritage and Culture Aurangzeb Khan Khichi to pursue a better, more direct route with the relevant departments. Improved connectivity, he said, would make visits easier, support tourism and create jobs and economic opportunities for nearby communities.
He also welcomed the development of commercial activity in the area, saying families should have recreational spaces where they can enjoy the country’s history and natural scenery. Hamza Shahbaz invited diplomats and visitors, particularly from Buddhist countries, to visit the caves and expressed hope that the site would represent religious harmony and mutual respect.

Aurangzeb Khan Khichi thanked Hamza for inaugurating the project and reaffirmed the government’s commitment to protecting Buddhist heritage sites across Pakistan. He called on the Pakistan Tourism Development Corporation and media organisations to raise awareness of the caves’ historical and religious importance and promote them to local and international visitors.

The ceremony was attended by Federal Minister Rana Mubashar, MNA Anjam Aqeel Khan, former Islamabad deputy mayor Syed Zeeshan Shah, Special Assistants to the Prime Minister Aon Chaudhary and Talha Barki, senior officials, diplomats from Buddhist countries and other guests. At the conclusion, Shah presented Hamza with a souvenir.

The Prime Minister’s Apna Ghar Programme has disbursed more than Rs 104 billion in housing loans to 17,697 families, crossing a key milestone in the government’s effort to expand access to affordable housing finance.

Figures shared by Khurram Schehzad, Adviser to the Finance Minister, show that as of October 30, 2026, the programme had received 220,715 applications. Of these, 90,405 had been approved, giving an approval rate of about 41%. The approved loans are worth a total of Rs 533 billion.
Loan disbursements have grown from Rs 21 billion in June to Rs 104 billion by the end of October. The value of approved financing has also increased from Rs 144 billion to Rs 533 billion over the same period.

Launched by Prime Minister Shehbaz Sharif in April 2026, the nationwide scheme is designed to help low and middle-income families purchase or build homes. The five-year programme aims to finance 500,000 houses and is backed by a government allocation of Rs 3.2 trillion. Eligible applicants can access loans of up to Rs 10 million, repayable over 20 years. The scheme provides a fixed subsidised markup rate of 5% for the first 10 years; market rates apply thereafter.

Financing is offered through participating commercial and Islamic banks, microfinance institutions and the House Building Finance Company.

A joint investigation team (JIT) has identified former advisor finance Abdul Hafeez Shaikh, as the alleged mastermind behind the One Constitution Avenue scandal in Islamabad and named several former Capital Development Authority (CDA) officials for their alleged involvement.
According to the JIT report, Shaikh worked in coordination with former CDA chairman Kamran Lashari, Faisal Awan and Azhar Ali Chaudhry.

The report alleges that the project caused financial losses to the national exchequer while enabling certain individuals and their associates to receive undue benefits. The JIT has recommended that Shaikh be blacklisted from participating in government projects. It has also urged the National Accountability Bureau (NAB) to speed up its investigation and file a reference within three months. The team called for further investigation and action against those found responsible.

Federal Minister Ahsan Iqbal confirmed the JIT’s findings at a press conference, saying the government would not protect anyone involved in the scandal. He also said the government would arrange a transparent re-auction of the project.

The allegations and recommendations are set out in the JIT report; any further action will depend on the investigation and relevant legal proceedings.