Land record curbs hamper loan applicants

Limits affect issuance of record, bank and NOC-related fard

RAWALPINDI:

Citizens seeking loans under federal and Punjab government schemes for house construction, personal residence and businesses have demanded the immediate withdrawal of restrictions on the issuance of land-record fard at Rawalpindi's Land Record Centres, warning that the curbs are creating unnecessary bureaucratic hurdles for prospective borrowers.

The restrictions, imposed at various centres, including Rawat, Raja Bazaar and others, have made it difficult for citizens to obtain official copies of their property records.

The restrictions apply to the issuance of record fard, bank-required fard and fard relating to No Objection Certificates (NOCs) required for securing loans.

The measures are also affecting citizens who wish to obtain bank financing against their existing plots or houses.

The development comes at a time when the government and the prime minister are directing banks to expand access to financing, particularly for house construction and residential purposes.

Citizens said that while the government was seeking to promote housing finance through banks, restrictions on obtaining essential land-record documents were creating additional obstacles for prospective borrowers.

Loan applicants demanded that all necessary safeguards be retained, including making a Green Property Certificate mandatory where required for bank-related fard. However, they urged the authorities to provide necessary relief in the issuance of record fard and NOC-related documents to citizens seeking loans for house construction or personal residence.

They said the policy should strike a balance between maintaining transparency in land records and ensuring that ordinary citizens did not face unnecessary bureaucratic hurdles when seeking financing.

The applicants called for the restrictions on the issuance of relevant land-record documents to be withdrawn and for a facilitative mechanism to be introduced for genuine borrowers.