The officials of the Islamabad Capital Territory (ICT) has decided to establish a Property Verification Center to prevent property scams by introducing property verification center.
Launch of Property Verification Center
The Property Verification Center will open next week, according to authorities. Deputy Commissioner Islamabad Muhammad Hamza Shafqaat appreciated the initiative’s inauguration, saying, “From now on, anybody who wants to buy property may come and examine its [property] status before buying.” Residents has appreciated the initiative as a significant step toward the transparency in real estate deals.
Citizens have been talking about real estate fraud in the capital for a long time. Online form filling websites, the selling of a single plot of property to several people, fraudulent register papers, and the replacement of unmarked plots are all common examples of these frauds.
Fake agents can sometimes catch the buyer off guard, especially when dealing with buyers from other countries. In certain situations, it has been noticed that overseas Pakistanis who own property in Pakistan employ a caretaker who poses as the house’s owner and receives a nominal payment from the potential buyer. Officials claim that with the establishment of the Center, people will be able to avoid frauds.
There is a need to introduce a property verification center in the region so that these scams can be avoided.
Residents of Islamabad got trapped on the basis of fake documents. It has also been noted that if a buyer pays the entire price for a property in a non-developed region, the land may be replaced with another. Citizens will now be able to check the status of the property they wish to acquire, according to authorities. It will assist in determining whether the property/agent is genuine or not.
Every commercial/residential project claims to be “CDA APPROVED” although it may not even be inside the capital’s boundaries. Typically, the housing scheme’s map/layout plan is changed, and the buyer is unable to identify the purchased plot.
Housing societies are registered with the ICT’s cooperative department on the one hand, and project NOC is acquired from the CDA on the other. This is an issue that has to be addressed by the relevant authorities in order to help the inhabitants. In order to take care of this issue, Property verification center is now going to be opened in Islamabad.
Source: The Nation