Missing DC rates interrupt registrations and stamp sales; Daily revenue loss of 500 million rupees feared
RAWALPINDI:
Real estate transactions in Rawalpindi district came to a halt after the district administration failed to release the revised official valuation rates of properties for the financial year 2026-27, despite 12 days having passed since the start of the new financial year.
The delay in notifying the Deputy Commissioner (DC) of minimum official property values for residential, commercial and rural areas has effectively crippled the district’s real estate market, with no property registration taking place in the last fortnight.
Officials said the land records were unable to process the sale deeds in the absence of the revised valuation schedule. The situation has been further aggravated by the fact that the Federal Board of Revenue (FBR) is yet to release its updated property valuation tables, thereby leaving the entire property transfer system suspended.
The prolonged standoff also halted the sale of stamp papers needed for real estate transactions over the past two weeks, leading to significant financial losses for the government.
According to estimates, the Finance Ministry is losing around Rs 500 million in revenue every day due to the suspension of property registrations.
With transaction activity at a standstill, staff at land registration offices remain largely idle, while property dealers say business in the district has virtually collapsed.
The delay has also affected the Punjab Excise and Taxation Department, which is yet to prepare revised property tax bills for the current financial year. Officials said the ministry’s tax framework is linked to property assessment rates notified by the deputy commissioner, making it impossible to calculate and issue commercial and residential property tax bills until the revised scale is officially released.
As part of the annual valuation exercise, the Deputy Commissioner reassesses the official minimum property prices for residential, commercial and rural localities in the district.
While annual revisions were traditionally limited to around 10%, stakeholders say increases over the past three years have ranged from 20% to 500%, leading to legal challenges before the Rawalpindi bench of the Lahore High Court (LHC).
Sources in the deputy commissioner’s office said the revised assessment list had already been finalized but it was revised after the appointment of the new deputy commissioner. The notification is now expected to be released on July 15.
Reacting to the delay, Hasan Shah, vice-president of the Real Estate Dealers Association, said the issue had become an annual problem that was unnecessarily disrupting business activity.
“The valuation schedule should be finalized by June 30 and notified on July 1 or 2 every year so that real estate transactions continue without interruption,” he said.
Waheed Awan, a representative of the Stamp Sellers’ Union, said sales of stamp paper remained suspended for the past two weeks because applicable property assessments had not been notified.
“Stamp papers can only be issued once the official valuation rates are available. We urge the district administration to release the revised valuation list of properties without further delay,” he said.
According to industry figures, Rawalpindi district normally records 350-400 property registrations and 150-250 powers of attorney every day. However, all these transactions remained suspended over the past two weeks, completely paralyzing the neighborhood’s real estate market.
