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Stay informed with the latest developments in real estate, business, and investment trends across Pakistan and beyond. Chakor News delivers timely updates, expert insights, and market analysis to help you make informed decisions. Whether it’s project launches, economic shifts, or updates on regulatory changes, our news coverage keeps you ahead of the curve. Explore reliable stories, impactful headlines, and trusted reporting—only on Chakor News.

CategoriesConstruction News Urban Developments & Planning

Shaheen Chowk Underpass Opens in Islamabad, Completed in Record 63 Days

ISLAMABAD: The Shaheen Chowk Underpass, located at the busy intersection of Khyaban-e-Iqbal and 9th Avenue, was officially opened for traffic today, marking a significant milestone for Islamabad’s infrastructure. The project, completed by the Capital Development Authority (CDA), was delivered in an impressive 63 days, far ahead of its expected completion time. Dubbed a New Year’s gift to the city, this rapid development is expected to significantly alleviate traffic congestion in the area.

During the opening ceremony, Interior Minister Syed Mohsin Naqvi shared that Prime Minister Shehbaz Sharif would lead the formal inauguration of the underpass. Reflecting on the city’s infrastructure progress, Naqvi expressed pride in the numerous development projects completed in the Islamabad Capital Territory this year and reiterated his confidence that the pace of development would double in the upcoming year.

The event was attended by key figures, including the Minister of State for Interior, Talal Chaudhry, and the CDA Chairman, Muhammad Ali Randhawa.

In addition to the underpass, Naqvi announced plans to construct seven to eight cricket grounds and a grand cricket stadium in Islamabad to enhance the capital’s sports infrastructure.

Minister Naqvi also revealed that the M-Tag system, which is required for vehicles entering Islamabad, has been granted a 15-day extension. The new deadline offers additional time for compliance, postponing enforcement of the system, which was initially set for January 1.

The completion of the Shaheen Chowk Underpass in just 63 days underscores the government’s commitment to swift infrastructure development. It is expected to significantly improve traffic flow in one of Islamabad’s most congested areas.

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CategoriesNews Taxes

Punjab’s Excise Department Raises Property Tax by Up to 50%

RAWALPINDI: The Excise and Taxation Department of Punjab has recently implemented a significant increase in property tax rates, raising them by 25% to 50%. This hike follows a revision of property DC rates across the province.

In addition to the increased property rates, the department has sent out new tax notices for the upcoming financial year. Citizens are now required to pay their taxes by December 22, even though the notices were sent after this deadline, resulting in additional surcharges on their bills.

The department’s move is part of broader changes made earlier this year when tax rates were increased in January, extending the tax net to include smaller properties, such as homes under 5 marlas, as well as widows. Citizens have also received notices for outstanding taxes spanning the past 1 to 3 years.

Under the revised tax structure, Rawalpindi city has been divided into three categories (A, B, and C), and property taxes are now being calculated according to the new rates based on property size. For instance, individuals who previously paid 25,000 PKR in taxes have now received notices for 50,000 PKR.

While the financial year ends on June 30, tax defaulters are typically given a grace period, yet the Excise Department has already sent out notices for the 2025-2026 financial year. Citizens have raised concerns over the fairness of these actions, demanding intervention from the Chief Minister of Punjab and the Provincial Minister of Taxation to address these unjustified penalties and excessive tax rates.

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Rising Land Costs Push Pakistan’s Housing Market Towards Vertical Living
CategoriesNews Real Estate

Rising Land Costs Push Pakistan’s Housing Market Towards Vertical Living

ISLAMABAD: Rising land costs, rapid urbanisation, and changing lifestyle preferences are pushing Pakistan’s housing market towards vertical living, with condominiums, apartments, and compact residential units emerging as the preferred choice for buyers and developers, real estate experts said.

Pakistan is currently facing an estimated housing shortage of 10 to 12 million residential units, a gap that continues to widen each year due to population growth and increasing urban migration. Industry specialists warn that this persistent supply-demand imbalance is reshaping the real estate landscape, particularly in major cities such as Lahore, Karachi, and Islamabad, where land scarcity has driven prices sharply higher.

Speaking to Business Recorder, real estate expert Shahzad Akbar Janjua said accelerating urbanisation, shrinking household sizes, and evolving buyer behaviour are key factors behind the rising demand for apartments, condominiums, and townhouses.

“Urbanisation is accelerating, household sizes are shrinking, and younger families want their own homes earlier than before,” Janjua said, adding that despite economic slowdowns, real estate remains Pakistan’s most trusted long-term investment, offering security and protection against inflation.

Janjua noted that rising land acquisition costs, higher construction material prices, and inflation in labour and development inputs have significantly increased property prices, particularly in urban centres. This trend has made traditional large homes unaffordable for most middle-income families, pushing buyers towards vertical living and compact apartment-style housing.

“The greatest housing shortfall is now in mid-sized, compact units such as apartments, condominiums, and townhouses,” he said. “Without consistent development of these formats, the urban housing deficit will continue to grow.”

Another real estate expert, Ahmed Saljouk, said Pakistan’s property market is experiencing renewed momentum because housing demand has outpaced supply for several years. He explained that affordability, land optimisation, and changing lifestyle needs are driving the shift towards apartment living and community-based condominium complexes.

“Large plots are no longer viable for most buyers, while compact units offer better price accessibility,” Saljouk said. “Vertical developments allow developers to integrate security, utilities, maintenance services, and green spaces more efficiently.”

He added that horizontal urban expansion requires large, contiguous land parcels that are increasingly scarce and expensive near city centres. Such expansion also places heavy pressure on infrastructure, roads, and utilities, making high-rise apartments and condominiums a more practical and sustainable solution.

“Modern buyers prioritise convenience, connectivity, and maintenance-friendly living—qualities that apartments and condominiums deliver far better than traditional sprawl-based housing schemes,” Saljouk said.

Experts believe that improved connectivity, new residential corridors, and the growing availability of affordable apartments, condominiums, and compact housing will continue to drive Pakistan’s real estate investment towards vertical living as a long-term response to rising land prices and the country’s housing shortage.

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CategoriesNews Property Laws

PBC Slams Punjab Property Act, Backs LHC Suspension

ISLAMABAD: The Pakistan Bar Council (PBC) has strongly opposed the Punjab Protection of Ownership of Immovable Property Act, 2025, terming it unconstitutional, unlawful, and detrimental to the country’s judicial system. The council warned the Punjab government against implementing what it described as the “illegal aspirations of land mafias” and demanded the immediate withdrawal of the law.

Presiding over the PBC’s 247th meeting at the Supreme Court Building in Islamabad, Vice Chairman Chaudhry Tahir Nasrullah Warraich said the outgoing cabinet had unanimously rejected the Act. The council also called on the Punjab government to issue an apology to the Lahore High Court (LHC) for what it termed an inappropriate response following judicial intervention.

The PBC maintained that the law conflicts with key legal frameworks, including the Civil Procedure Code, Criminal Procedure Code, Qanoon-i-Shahadat (Evidence Act), and the Illegal Dispossession Act. It expressed concern that the Act empowers deputy commissioner-led committees to decide property disputes, creating a parallel system of jurisprudence that bypasses civil courts and undermines judicial supremacy.

On December 22, LHC Chief Justice Aalia Neelum suspended the operation of the Act and referred the matter to a full bench for adjudication. The move was subsequently endorsed by lawyers’ associations across the province on December 24.

The council praised the LHC for what it called a timely and necessary intervention, warning that the legislation erodes civil rights and allows executive officials to exercise judicial authority. It further cautioned that failure to take corrective measures within days could compel the legal community to launch a nationwide movement in defence of judicial independence and the rule of law.

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CategoriesNews Transport

KP Government Paves the Way for a Modernised Railway Network

PESHAWAR: The Khyber-Pakhtunkhwa (KP) government has announced plans to introduce modern train services across the province, with a major focus on the proposed Kohat-Kharlachi rail link. This decision was made during a high-level meeting chaired by Chief Minister Sohail Afridi at the KP House in Islamabad.

The Kohat-Kharlachi railway project involves the construction of a 192-kilometre rail track at an estimated cost of $642 million. The project is expected to be completed within two years, with the feasibility study already finalised and land acquisition currently underway. The chief minister emphasised that the project is crucial to improving public transportation, boosting trade, and enhancing economic activity in the region.

Additionally, the meeting discussed a proposal to operate a safari train along the 32-kilometre Jamrud-Landi Kotal railway track to promote tourism. The chief minister directed the relevant authorities to devise detailed plans with clear timelines for all railway projects to ensure timely implementation.

The meeting also highlighted the need for improved cooperation between the KP government and Pakistan Railways to ensure the success of these initiatives. Chief Minister Afridi reiterated his full support for Pakistan Railways, stressing the government’s commitment to providing efficient and accessible public transport services throughout the province.

This initiative is part of the provincial government’s broader vision to modernise infrastructure and stimulate economic development through enhanced transportation networks. The KP government is determined to make significant strides in improving the region’s connectivity and boosting commercial activities.

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CategoriesNews

CDA Begins Three-Day Auction with Rs13.52bn Collection

ISLAMABAD: The Capital Development Authority (CDA) generated Rs13.52 billion on Monday from the first day of its three-day public auction of residential and commercial plots held at the Jinnah Convention Centre.

According to an official statement, four plots were successfully auctioned during the opening session, including two commercial plots in the Blue Area and two agro farm plots under the Orchards Scheme on Murree Road. Blue Area Plot No. 15, located in the F-8/G-8 sector, was sold for Rs3.52 billion, while Plot No. 17 in the same area fetched Rs9.15 billion. In addition, Plot No. 37/C of the Orchards Scheme was auctioned for Rs42.20 crore, and Plot No. 37/D was sold for Rs42 crore.

The CDA stated that the auction will continue until December 24, during which various categories of residential and commercial plots will be offered to investors. These include plots in different centres, the E-11 Northern Strip, agro farms, petrol pump sites, and constructed shops in the Blue Area. Residential plots from multiple sectors are also part of the auction.

To encourage investor participation, the authority has introduced several incentives, including a five per cent discount on commercial plots for payments made in US dollars and an additional five per cent concession for lump-sum payments made within 30 days of bid approval. Building plan approval will be granted after an initial 25 per cent payment, while possession of plots will be handed over upon payment of 75 per cent of the total amount.

Following the completion of the auction, all bids will be submitted to the CDA Board for approval. CDA Chairman Mohammad Ali Randhawa stated that the revenue generated from the auction will be utilised for development, construction, and beautification projects across Islamabad.
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CategoriesNews

Dense Fog Disrupts Travel Across Pakistan: Motorways Closed, Flights Diverted

ISLAMABAD: Dense fog disrupted travel across several regions of Pakistan on Sunday, causing the closure of key motorway sections and diversions of international flights. The poor visibility heightened the risk of highway accidents.

The fog primarily impacted areas in Punjab and Sindh, leading to the closure of the M-11 motorway, which links Lahore and Sialkot. Additionally, authorities restricted heavy vehicles from travelling on the M-5 motorway, which connects Multan in Punjab to Rohri in Sindh. These closures were part of efforts to minimise accidents due to limited visibility.

Earlier in the day, several other motorway sections were also closed, including the M-2 motorway from Thokar Niaz Baig to Kot Momin, the M-3 motorway from Faizpur to Darkhana, and the M-4 motorway from Pindi Bhattiyan to Abdul Hakeem. These sections were reopened around 10 a.m. after the fog began to lift and visibility improved.

Motorway police issued a public advisory urging citizens to avoid travelling at night and recommended that the safest travel window during such conditions is between 10 a.m. and 6 p.m.

The dense fog also disrupted air travel, with six international flights to Karachi diverted to Muscat and Islamabad. The Pakistan Airports Authority confirmed the diversions due to the poor visibility surrounding Karachi.

Motorway Police spokesman Syed Imran Ahmed emphasised the importance of prioritising daytime travel to ensure safety during foggy conditions.

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CategoriesNews

Rawalpindi Business Owners Reject Plan for Murree Road Widening

RAWALPINDI: The Rawalpindi Development Authority (RDA) has proposed widening Murree Road from Liaquat Bagh to Chandni Chowk by adding 10 to 15 feet on each side, covering a stretch of 2 kilometres. This road expansion, estimated to cost Rs 9 billion, is intended to ease traffic congestion that currently hampers movement throughout the day.

The proposed project involves demolishing commercial buildings along the road and acquiring additional land to accommodate expanded lanes and wider footpaths. The RDA argues that this expansion is crucial to alleviate the severe traffic bottlenecks that affect access to key public and private institutions in the area.

However, the plan has faced strong opposition from the Rawalpindi Traders Association, which claims that the project will have a detrimental impact on local businesses. They assert that the removal of commercial properties along this stretch will result in significant financial losses for traders. Sharjeel Mir, President of the Central Traders Association, criticised the lack of consultation with stakeholders and warned that the project would severely affect a vital commercial area.

The proposed widening is contingent upon approval and funding from the Punjab government. If the project proceeds, it is expected that 70 to 80 percent of the commercial space in the area would be reduced or eliminated, a prospect that has sparked further concern among local business owners.

While traffic flow beyond Chandni Chowk has improved due to wider tracks and flyovers, the stretch between Liaquat Bagh and Chandni Chowk remains a significant traffic bottleneck, mainly due to narrow lanes and illegal parking.

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CategoriesNews

Senator Anusha Rehman Calls for Acceleration of NSIT City Development to Boost Punjab’s IT Sector

LAHORE: Senior Advisor to the Chief Minister of Punjab, Senator Anusha Rehman, visited NSIT City, Pakistan’s first and largest IT-focused development project, to review its progress and emphasise the need for fast-tracking its development. The project is set to position Punjab as a regional hub for IT, innovation, and investment.

During the visit, Senator Rehman underscored the importance of accelerating the project in line with the vision of Chief Minister Maryam Nawaz Sharif. She called for the use of advanced technologies to speed up construction and infrastructure development, furthering the government’s commitment to economic growth and innovation.

CEO of CBD Punjab, Imran Amin, provided a comprehensive briefing on the project’s scope, planning, and progress. He highlighted that NSIT City is a cornerstone initiative aimed at creating a thriving ecosystem for skilled youth and startups, fostering high-value investment in the region.

Senator Rehman stressed the need for collaboration with regulatory authorities to resolve any hurdles in completing the first phase of the project. She emphasised the government’s commitment to strengthening the IT ecosystem by connecting industry and academia and focusing on the development of emerging technologies.

NSIT City aims to not only enhance Punjab’s IT infrastructure but also provide a platform for economic growth, creating new opportunities for professionals and businesses. The project is poised to play a pivotal role in the province’s future as a technological and innovation hub.

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CategoriesNews

FBR Suspends New Property Valuation Rates Amid Business Community Protest

ISLAMABAD: The Federal Board of Revenue (FBR) has announced a suspension of the newly revised property valuation table for tax assessment in Islamabad, following objections from the business community. The suspension will remain in effect until January 31, 2026, or until a new SRO for fair market values of immovable properties is issued, whichever comes first.

The decision came after the Islamabad Chamber of Commerce and Industry (ICCI) called for a protest on December 22, 2025, outside the FBR House, demanding the withdrawal of the notification. The business community has expressed strong opposition to the new rates, which, according to ICCI, could increase property values by up to 1,700%, resulting in a sharp rise in property transfer fees. Previously, transfer fees ranged between Rs 4 million to Rs 10 million due to the new valuation.

The FBR had initially issued the revised valuation table on December 8, 2025, under SRO 2392/2025. However, following complaints from real estate associations about inflated property values in certain areas, the FBR reviewed the objections and acknowledged their validity. As a result, the revised rates for Islamabad have been put on hold pending a re-evaluation.

Since 2016, FBR has been responsible for determining the fair market prices of properties in major urban centers, with provincial valuations typically handled by district collectors. The revised tables were set to be used for calculating federal taxes such as capital gains tax (CGT) and withholding tax.

The decision to delay the implementation of the new rates comes as a relief to many in the real estate sector, who had voiced concerns over the potential negative impact on property transactions.

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