Property registrations resume after 26 days

After a complete suspension of property transactions for about 26 days, the registration of all types of properties in the Rawalpindi district has formally been resumed.

Following the orders from the Punjab revenue department, the offices of property registrars in the district's urban, metro and cantonment areas have returned to full operation.

Additionally, the sale of stamp papers, which were halted for the past three weeks, has resumed. Due to the high demand, the registration offices in the tehsil, metro and cantonment areas are now working until 9pm.

During the fiscal year 2023-24, daily registrations ranged from 50 to 70, with 30 to 50 power of attorney transactions taking place, thanks to lower rates and taxes.

However, with the increased taxes and fees for the fiscal year 2024-25, the number of registrations has decreased significantly, now ranging from 20 to 25 and power of attorney transactions have reduced to around 30. As a result, the revenue department is facing a 60% shortfall in registration revenue this year.

The suspension of registrations was due to a 26-day inquiry into alleged corruption. No significant findings have been reported so far.