AAA Associates held a conference of the realtors and builder’s community today, at the Head Office of AAA Associates Phase 7, Bahria Town, Islamabad.
The conference was conducted to discuss the new real estate policies, and immovable property valuations implemented by Government. Propertiers and builders from the twin cities participated in it. The meeting was presided by Chairman AAA Associates Sheikh Fawad Bashir. Chairman Federation of Realtor’s Pakistan Musarat Ejaz Khan and the Vice Chairman of the Federation of Realtor’s Pakistan Mr Najeeb Gul Abbasi were the chief guests of the session. MD AAA Associates Lt. Col. Shahzad Ali Kiani (r) was also presented at the conference.
The session was attended by the Executive Member of the RCCI, Sardar Tanveer Sarwar, Active Member Federation of Realtors Malik Habib, and Mr Mubashir Hayat, Chaudhry Mushtaq, Naveed Kayani, Zafar Chaudhry, Munawar Shaikh Tayyab, Raja Zahid, Chaudhry Qaiser, Professor Tariq, Waseem Kayani, Daniyal Khan, and Babar Dar.
In a recent move, the government has massively increased the valuation rates of immovable properties between 100 to 600 percent and in some cases up to 1000 percent depending on residential and commercial areas in Islamabad, Rawalpindi. The session discussed the implications of this drastic increase in the valuation rates on the Real Estate Industry. The participants unanimously expressed strong reservations on these rates, considering them unjustified and impractical.
