Real estate stakeholders in Islamabad have strongly opposed the Capital Development Authority’s (CDA) recent increase in property transfer fees and related charges, describing it as contradictory to the government’s vision of providing relief to the real estate industry. Leaders of the Islamabad Estate Agents Association have warned of a full-scale protest, including a lockdown demonstration outside CDA offices, unless their demands are met promptly.<\/p>\n
Speaking at an emergency press conference held at the National Press Club Islamabad, President of the Islamabad Estate Agents Association and Member of the Prime Minister’s Task Force, Sardar Tahir Mahmood, called for an immediate withdrawal of CDA’s notification that increased the property transfer fees from 1% to 3%. He also demanded the swift issuance of property site maps and No-Demand Certificates (NDCs), and emphasized the need to give representation to real estate stakeholders in the Development Verification Committee (DVC).<\/p>\n
Accompanied by other prominent leaders, including former president Islamabad Estate Agents Association Chaudhry Abdul Rauf, General Secretary Zahid Rafiq, and Atif Jamil Butt, Sardar Tahir Mahmood criticized CDA Chairman Muhammad Ali Randhawa, accusing him of directly violating directives from Prime Minister Muhammad Shehbaz Sharif. He stated that the recent increase undermines the government’s well-defined policies to stimulate the real estate sector and provide affordable housing solutions, particularly through notable initiatives implemented in the federal budget. Mahmood highlighted that the government had taken steps to alleviate burdens on citizens by reducing Advance Tax (236K), abolishing the Federal Excise Duty (FED), and providing significant stamp duty relief in order to revive investor confidence and economic activity in the real estate sector.<\/p>\n
Participants accused CDA of deliberate delays in approval of plots’ maps and issuance of NDCs, allegedly fostering an environment conducive to corruption and bribery. Mahmood pointed out that CDA was exploiting public and investor resources by relying heavily on plot auctions for revenue generation, adversely impacting the broader real estate community.<\/p>\n
The association members declared their intent for a vigorous protest if their grievances remain unaddressed. They announced plans for a complete lockdown protest by realtors, builders, developers, and allied industries outside CDA offices. Further, they warned of mounting a comprehensive media campaign calling on the Prime Minister to remove the CDA Chairman from office if immediate corrective actions are not implemented.<\/p>\n","protected":false},"excerpt":{"rendered":"
Real estate stakeholders in Islamabad have strongly opposed the Capital Development Authority’s (CDA) recent increase in property transfer fees and related charges, describing it as contradictory to the government’s vision of providing relief to the real estate industry. Leaders of the Islamabad Estate Agents Association have warned of a full-scale protest, including a lockdown demonstration …<\/p>\n","protected":false},"author":7,"featured_media":4498,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[94],"tags":[],"class_list":["post-4497","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-pakistan"],"_links":{"self":[{"href":"https:\/\/www.peakpoint.pk\/en\/wp-json\/wp\/v2\/posts\/4497","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.peakpoint.pk\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.peakpoint.pk\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.peakpoint.pk\/en\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/www.peakpoint.pk\/en\/wp-json\/wp\/v2\/comments?post=4497"}],"version-history":[{"count":1,"href":"https:\/\/www.peakpoint.pk\/en\/wp-json\/wp\/v2\/posts\/4497\/revisions"}],"predecessor-version":[{"id":4499,"href":"https:\/\/www.peakpoint.pk\/en\/wp-json\/wp\/v2\/posts\/4497\/revisions\/4499"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.peakpoint.pk\/en\/wp-json\/wp\/v2\/media\/4498"}],"wp:attachment":[{"href":"https:\/\/www.peakpoint.pk\/en\/wp-json\/wp\/v2\/media?parent=4497"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.peakpoint.pk\/en\/wp-json\/wp\/v2\/categories?post=4497"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.peakpoint.pk\/en\/wp-json\/wp\/v2\/tags?post=4497"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}