ISLAMABAD: The federal government has launched a comprehensive review of the legal and regulatory framework governing Islamabad’s real estate sector, with the aim of strengthening property rights, improving transparency and restoring public confidence in the property market.
Federal Minister for Law, Justice and Human Rights Azam Nazeer Tarar chaired a high-level meeting on Monday to examine the existing Real Estate Regulatory Authority (RERA) framework and explore options for introducing a revised legal and regulatory regime for the federal capital.
Federal Minister for Finance and Revenue Muhammad Aurangzeb, Minister of State for Interior Talal Chaudhry, Capital Development Authority (CDA) Chairman and Chief Commissioner Islamabad retired Lt Sohail Ashraf, and senior officials from the ministries of Interior and Law and Justice attended the meeting.
Government Seeks Transparent RERA Framework
The participants discussed the need for an effective, transparent and people-focused regulatory system for Islamabad’s real estate sector.
The meeting reviewed the existing RERA framework, its implementation, institutional responsibilities and possible regulatory arrangements. Participants also agreed to hold further consultations on RERA legislation and conduct a comprehensive assessment of the available legal and regulatory options.
Tarar constituted a subcommittee comprising representatives from the Ministries of Interior and Law and Justice and the CDA to examine legal options, regulatory arrangements and institutional mechanisms related to RERA.
The subcommittee has been directed to submit its report within 20 days.
Focus on Property Rights and Public Confidence
The proposed regulatory framework is expected to provide stronger protection for citizens’ property rights while improving transparency, accountability and regulatory oversight in Islamabad’s real estate sector.
Tarar said Islamabad’s regulatory and institutional framework needed to be strengthened to develop the federal capital as a model city.
He emphasized that the protection of citizens’ property rights, effective regulation and safeguarding the public interest should remain central to the reform process.
The law minister also highlighted the importance of a clear legal framework for promoting low-cost housing, improving access to housing finance and facilitating property ownership.
According to Tarar, a transparent and people-oriented regulatory system could help rebuild public confidence in the real estate sector.
Digitisation of Land Records Under Discussion
The meeting also examined the digitisation of land records as an important component of the proposed reforms.
Finance Minister Muhammad Aurangzeb stressed the need for greater transparency in the property sector and said digitised land records could improve confidence among banks, investors and the general public.
A modern digital land-record system could also help improve verification, reduce disputes and make property transactions more transparent.
Further Consultations Planned
Minister of State for Interior Talal Chaudhry welcomed reforms undertaken by the CDA and called for further consultations on the available options for strengthening the RERA framework.
The meeting agreed that the federal government, CDA and private sector would be key stakeholders in developing an effective regulatory system.
Further consultations with relevant stakeholders will be held as the government works on the future legal and regulatory framework for Islamabad’s real estate sector.
The review comes as authorities seek to establish a more transparent and accountable property market in the capital, with stronger safeguards for property owners, buyers and investors.
