New taxes halt property registrations

The imposition of new taxes on commercial and domestic property registrations in the latest budget has led to a halt in all new property registrations in Rawalpindi, effective from June 20.

The deputy commissioner (DC-Government Rate) is set to increase property values by 15-20% in upscale areas starting July 1, causing widespread concern among citizens.

The Urban-Rural Properties Registrar Offices and the Rawalpindi Tehsil Office have stopped all new registrations. An inquiry by The Express Tribune revealed that the Education Registrar's Office has been unable to process new registrations due to a week-long internet outage and issues with biometric authentication.

Sources in the Property Registrar and Rural Office confirmed that starting July 1, additional charges of Rs70,000 to Rs150,000 will be applied to new property registrations, depending on the location. This has led to a delay in new registrations, with the cost in upscale areas expected to rise by up to Rs0.5 million.

The Rawalpindi Tehsil Office processes 15 to 25 new registrations daily, while city and rural offices handle 20 to 30. However, no new registries have been processed since June 20. The registration process is expected to resume within the next two to three days. If not completed by Saturday, June 29, property buyers and sellers will face the new financial year tax rates.

The suspension has sparked protests among citizens, property dealers, and buyers in various housing societies. The Property Dealers Association and brokers have condemned the delay and demanded immediate action. The Stamp Vendors Union has called for prompt resumption of new registries and manual processing in case of internet issues.

Hasan Shah, Vice President of the Property Dealers Association, stated that property registrations should not be suspended due to technical issues and emphasised the citizens’ right to register properties at the current rate until June 30.