The federal government has authorized relevant authorities to carry out a digital survey of the sale and purchase of the real estate in Pakistan.
The initiative not only allows Pakistan closer to digitize the real estate sector but it will also enable the Federal Board of Revenue (FBR) to raise more revenue.
According to credible sources, the digital survey will take two years to complete. The survey will focus on gathering accurate data of properties all over Pakistan.
The proposed survey will be based on the Chinese model of Digitized Land Survey.
Once the survey is completed, all the necessary information regarding real estate properties will be stored in a digital format, providing citizens easy access to the information of all real estate.
The information regarding the sale and purchase of the properties will be calculated as per their current price.
More importantly, FBR will benefit the most from this survey as it will be able to collect property tax accurately.
Via: Dunya News