ISLAMABAD: The federal government has initiated a comprehensive review of the legal and regulatory framework governing real estate in the capital, with a subcommittee formed to recommend a modernised structure for the Real Estate Regulatory Authority (RERA).
Federal Minister for Law, Justice and Human Rights Azam Nazeer Tarar chaired a high-level meeting on Monday to review the existing RERA framework and explore options for overhauling it.
The session brought together key stakeholders, including Federal Minister for Finance and Revenue Mohammad 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 interior and law ministries.
Participants held detailed discussions on establishing an effective, transparent, and citizen-focused regulatory system, addressing gaps in the current framework’s implementation and institutional responsibilities.
As a result, Minister Tarar constituted a subcommittee comprising representatives from the interior and law ministries alongside the CDA, tasked with examining legal options and institutional mechanisms for RERA. The subcommittee has been directed to submit its findings within 20 days.
Minister Tarar underscored the need to strengthen Islamabad’s regulatory and institutional architecture, positioning the capital as a model city for the country. He stressed that protecting citizens’ property rights, ensuring transparency, and safeguarding public interest must remain central to the reform process, noting that a robust legal framework would facilitate low-cost housing and improve access to housing finance.
The meeting also addressed the digitisation of land records as a critical reform component. Minister Aurangzeb highlighted that modernising land records could bolster confidence among financial institutions and the public alike. Minister Chaudhry commended existing CDA reforms while calling for continued consultation on regulatory options.
Officials agreed that the federal government, CDA, and private sector are essential stakeholders, with further consultations planned before the new legal and regulatory framework is finalised.
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