By Shahab Omer
T
he real estate sector in Pakistan has made people into millionaires and it has destroyed families by entangling them in legal battles over land that last decades and generations. The dream of every Pakistani with aspirations of building wealth is to have property. But property in Pakistan has been greatly unregulated and has caused too many too much grief. As recently as 2016, there were still problems in this business due to unnecessary taxes and increase in valuation table. Second, due to the government’s lack of interest, the country’s multi-billion rupee revenue sector was in decline. Real estate offices were closing, people were becoming unemployed, overseas Pakistanis were no
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longer investing back in Pakistan, and the market was slowing down very quickly. It was at this point that the government introduced a great drive to move towards the simplification of the property buying and selling system and the reduction of taxes. It was hoped that this would boost the sector and it would grow exponentially in the near future and create more employment opportunities across the country and more than fifty other industries related to this sector will work. It was also expected that overseas Pakistanis would also invest without fear. However, the experiment has not given the results that it should have. To try and improve the real estate sector further, last year the government introduced amnesty for investors in the real estate sector. People in the sector had expressed hope that the sector would now improve. However, a survey conducted by Profit
