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Karachi Real Estate News

Highway authority: Rs9 billion needed for 7 schemes

RATODERO: The National Highway Authority (NHA) has asked the government for a total of Rs9.184 billion to complete seven development projects under the Larkana Package Schemes. The schemes, including the Larkana Khairpur Bridge, Lakhi Naudero Larkana Road, Larkana Moenjodaro Road, Ratodero Naudero Road and Larkana Kamber Road, started in 2009 and were supposed to be[…]

Pakistan’s poor political elite?

ISLAMABAD – The laughably pitiful attitude of the parliamentarians to hide their wealth details, this time from Punjab and Sindh assemblies, saw the habitually annual repetition on Friday after the Election Commission of Pakistan finally took the ‘pain’ to make public the assets details of the ruling elites of the two provincial assemblies.

NIC number to become National Tax Number

The senate’s treasury committee meeting headed by Senator Ahmed Ali was held in Islamabad. In the meeting, Federal Board of Revenue chairman Salman Siddique told the committee that from December 31 onwards, rather than assigning a new National Tax Number (NTN), the National Identity Card (CNIC) number would be given the NTN status. He said[…]

Rs 744.343m for ports and shipping in budget 2011-12

ISLAMABAD: In the budget 2011-12, the government has allocated Rs 744.343 million for various projects of the Ministry of Ports and Shipping in the Public Sector Development Programme (PSDP). According to details, the said amount will be spent on the three on-going projects of the Ministry. Around Rs 27 million have been earmarked for Gwadar[…]

Cabinet approves budget 2011-2012

ISLAMABAD: The special meeting of the federal cabinet, chaired by Prime Minister Yousuf Raza Gilani, approved budget for the fiscal year 2011-2012, Geo News reported. The meeting was informed that national forex reserves have reached at record 17 billion dollar, while about 12 billion dollar in remittance is expected. It was also informed that Rs730[…]

Malir River Expressway project reviewed

Nespak has been appointed as consultant for construction of the Malir River Expressway from DHA Phase-VII to the Superhighway. The company will conduct the full study of the project and submit its feasibility report within two months after which measures will be taken to commence work on the project.

Additional development charges in DHA

THE Defence Housing Authority, Karachi, has been demanding additional development charges one after the other for phase VIII. In October 2004 they levied additional development charges at the rate of Rs500 per square yard for a residential plot payable by those persons who had not ‘A’ leased their plots up to Oct 1, 2004, while[…]

What is the worth of our cabinet ministers?

ISLAMABAD: The asset declarations of the federal cabinet members reveal the fluctuation in their fortunes during the past three years. Federal minister for religious affairs and labour and manpower, Syed Khursheed Shah’s assets were worth Rs11,900,000 in 2010. His two wives own assets worth Rs27,578,000 and Rs26,734,000 respectively. In 2009 his wealth valued Rs51,610,000 while[…]

PA body opposes new residential blocks for bureaucrats

Sindh Assembly’s Standing Committee on Services and General Administration Department (S&GAD) has opposed the proposed construction of official residences in Bath Island, Clifton and Gulistan-e-Jauhar in Karachi as well as Sindh House in Gwadar and Rest House in Khairpur till the flood rehabilitation process is completed in the province.

DHA road planning

KARACHI: This is with reference to your recent report on the planning of certain major roads in Karachi’s Defence Housing Authority, specifically Zamzama Boulevard and Khayaban-e-Shamsheer. The fact of the matter is that the plan to make the first road one way and remove the median divider from the latter was drawn up over two[…]

Real Estate Related Laws of Pakistan

This overview explains procedure for sale/purchase of real estate in Pakistan, Gift of real estate in Pakistan, lease of real estate in Pakistan, mortgage of real estate in Pakistan and taxation of gains from real estate in Pakistan, taxation of real estate in Pakistan and set up of real estate investment trusts in Pakistan. These[…]

Pakistan Property & Real Estate FAQs

Q. What is Aks-Shajra? A. Aks-Shajra means image of a specific piece of land/specific khasra number from the map/plan of an estate or village defining its boundaries. Q. What is meant by Fard Malkiat? A. Fard Malkiat also known as (Record of Rights/ Jama Bandi/Misal Haquiat/ Register Haqdaran-e-Zameen) maintained for determination/record of various types of[…]

Ethics in business: Mobile marketing or SMS spam?

Pakistan has seen tremendous growth in the mobile sector. Within this sector, SMS volumes have seen 253 per cent growth from 2009 to 2010, according to PTA reports. In 2009, an average of 128 SMS messages were sent per person, per month, or an average of just over 4 messages a day. While some of[…]

Sindh Home Department to introduce NCWP

KARACHI: Sindh Home Department is all set to introduce the Neighbourhood Crime Watch Programme (NCWP) in different areas of the city in phases to meet the safety and security needs of the people. Sindh Home, Prisons and Forest Minister Dr Zulfiqar Mirza was informed at a comprehensive working paper, seeking formal approval to lunch the[…]

Emaar unveils advanced post-tension construction system

Islamabad—Emaar Pakistan, the country subsidiary of the global property developer Emaar Properties PJSC, has achieved a new milestone in the construction sector by becoming the first company in the country to implement the post-tension construction system for developing the 27 storey Coral Tower, a key residential tower in Emaar’s up-market Crescent Bay master-planned community. “This[…]

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