Human beings have craved connection for centuries, and now more than ever before. As a result, communal living and micro-communities have risen in popularity. In the real estate sector, communities are actively designed to foster happiness in people and to offer people a sense of belonging. With a similar concept, MIDCITY is revolutionising real estate by developing innovative ways to enhance the quality of life. Focusing on fostering wholesome living in a green environment, MIDCITY is the ultimate definition of luxury, affordability, convenience and community-building. What started off as a community living concept has turned into a ...

ISLAMABAD: The government should formulate a long-term policy, provide tax relief and use digital mapping for tapping the full potential of real estate sector, which will create jobs and boost the economy, said Imarat Group Chairman Shafiq Akbar. The Imarat Group is an innovator in the realty sector and has set up the Graana digital marketplace for online property verification. It has digitalised the urban areas in the entire Pakistan, which can help in online property verification and end malpractices and fraud. “The real estate sector needs proper planning and we have digitalise the entire Pakistan. We have ...

RAWALPINDI: Record increase in taxes, duties, stamp paper rates and property rates has brought the flourishing real estate business to a standstill. Owing to the increase in the rate of taxes and duties, a decrease of Rs5 billion in property sales and income has been recorded in the first two months of the new fiscal year (FY) 2022-23. With the implementation of this new tax and duties system, the gross tax rate on filers for property registry has been increased from five to nine per cent, and the tax rate on non-filers has been increased to 15 per ...

LAHORE: Pakistan’s real-estate sector is equipped enough to drive the country’s economy forward as it has the highest per capita demand for housing in the world. On the demand side, the real-estate sector is the preferred investment avenue for most Pakistanis and is currently worth over $3 trillion. Additionally, according to a World Bank report, an increase in foreign investments and remittances directly correlates with the worth of the real-estate in a country. Furthermore, the real-estate sector drives growth in several industries in Pakistan such as cement, timber, sanitary fittings, glass manufacturing, steel, furniture and electronics. The end ...

LAHORE: The Hold on for Dear Life (HODL) mindset in the real-estate sector means that retail and institutional investors own more than one unutilised residential property. On purpose, they delay the sale of the property in order to benefit from the prospect of a higher sale price in the future. In Pakistan, laws are in place that allow the elite to hoard various asset classes and finished goods in order to boost their value through appreciation. We have seen this time and again with various commodities, even in the case of rising land prices. “The housing finance market ...