Property registrar offices in Rawalpindi resumes after a month
Property registrar offices in Rawalpindi is back to work after more than one month of lock down. Punjab Government has allowed the property registration offices to resume their work. However, it is compulsory for the department to ensure implementation of standard operating procedures (SOPs) to prevent the spread of Covid-19.
In a single day, the work started with more than 20 property registration. Also, the Punjab Revenue Department announced the stamp duty to reduce from 5% to 1%. But due to Covid-19 pandemic, it was not implemented as such. With reopening of work, registration done only with 1% of stamp duty. This step overall enhanced the trust of property dealers. It will ultimately benefit all the individuals involved in property trade.
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With recent announced stimulus package, its predicted that Real Estate business will emerge as major industry in year 2020.
News Source: Express Tribune