ISLAMABAD ( WNAM REPORT ): 
Chaudhry Mazhar, Chairman of the Foreign Delegation Committee of the Islamabad estate agents association , stated that a major obstacle in the real estate sector is the uncertain tax policy and the heavy taxes imposed on the buying and selling of property. He said that limited bank financing facilities and high markup rates on housing finance are also hindering the growth of this sector.
He further emphasized that valuation rates should be aligned with actual market values and fixed for a longer period to ensure stability. The increase in construction costs, along with the extraordinary rise in the prices of cement, steel (rebar), and other building materials, has adversely affected the completion of projects.
He added that if the government and relevant institutions formulate policies through mutual consultation, the real estate sector can not only recover but also play a key role in the country’s economic growth.
