Investors rights will be protected after passing of Islamabad Real Estate Bill 2018

Islamabad Real Estate (Regulation & Development) Bill 2018 bill is now passed from the Upper House.

The bill was moved by Senator Mohsin Aziz.

According to the bill, no real estate project will be presented in the market for sale without prior registration with the envisioned regulatory authority. Registration of any individual working in the real estate sector with the authority will also be mandatory.

The Islamabad Real Estate (Regulation and Development) Bill 2018 seeks to establish the Real Estate Regulatory Authority for regulation and promotion of the real estate sector in the jurisdiction of the Islamabad Capital Territory (ICT).

The authority will look after the rights of the allottees and real estate agents.

Initially named as “Real Estate (Regulation and Development) Bill 2017″, the bill was originally meant to be applied across Pakistan. Later, however, following certain amendments, the bill’s jurisdiction was reduced to the ICT only.

 

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Author: admin

Started Real estate business as Mariner Property Services in Islamabad after retirement as Merchant Ship Captain 2004. Real estate always fascinated me as myself was investor in Real estate and I am still an investor. I found out that serious investors need a serious, sincere and honest adviser. I do very selected deals free of any doubt

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