The Punjab government is reportedly planning to amend a 116-year-old law to enable overseas Pakistanis to own and sell property in the country without legal complications.
The proposed changes would allow foreign Pakistanis to submit their sale deed statements directly to their embassy, eliminating the need to travel to Pakistan. Previously, Pakistanis living abroad were required by Section 31 of the Registration Act 1908 to register their power of attorney and send it to Pakistan. The designated individual in Pakistan then had the legal authority to complete the transaction in person.
This outdated law caused numerous legal issues and occasional fraud for Pakistanis abroad when buying and selling real estate. To address this, the Punjab government and the Ministry of Foreign Affairs (MOFA) have collaborated to establish a new system. Certain MOFA officers at foreign embassies will be granted sub-registrar powers.
After modifying Section 31(1) of the Registration Act 1908, immigrants will need to appear before a local commission officer designated by the Foreign Office at their respective embassy to conduct property transactions in Pakistan. Simultaneously, the buyer or seller in Pakistan will be present at the sub-registrar’s office and verified through the NADRA system.
Sources indicate that this initiative will save overseas Pakistanis millions of rupees in time and travel expenses. The modernization of this law aims to streamline property transactions, reduce fraud, and enhance the overall efficiency of the process for Pakistanis living abroad.
Moreover, the initiative is expected to boost confidence among overseas Pakistanis in investing in the country’s real estate market. By simplifying the process and reducing bureaucratic hurdles, the Punjab government aims to encourage more foreign investment in property, which could have positive economic implications.
This move aligns with broader efforts to attract investments from the diaspora, leveraging their financial resources and expertise to contribute to Pakistan’s development goals. As these reforms take effect, stakeholders anticipate a smoother, more transparent property market that facilitates both local and international transactions efficiently.
I am an accomplished graduate of Strategic Studies, driven by a fervent dedication to comprehending global affairs and devising impactful strategies. Equipped with a comprehensive skill set encompassing research, critical thinking, and persuasive communication, I possess a distinctive viewpoint and an unwavering commitment to fostering inclusive decision-making processes. As a versatile individual, I excel in collaborating with diverse groups in various settings, leveraging my strong interpersonal abilities to adapt seamlessly to new environments and surmount any challenges that arise. With a passion for contributing to strategic initiatives, I am eager to leverage my expertise and drive to effect positive change within the field.
