Lack of DC rates stops registrations, stamp sales; Rs500 million daily loss of income feared
RAWALPINDI:
Property transactions across Rawalpindi district have come to a standstill after the district administration failed to issue revised official property assessment rates for the financial year 2026-27, despite the passage of 12 days since the start of the new financial year.
The delay in notifying the Deputy Commissioner (DC) minimum official property values for residential, commercial and rural areas has effectively crippled the district’s property market with no property registrations taking place in the past fortnight.
Officials said land registrars have been unable to process sale deeds in the absence of the revised assessment plan. The situation has been further aggravated by the fact that the Federal Board of Revenue (FBR) is yet to issue its updated property valuation tables, leaving the entire property transfer system suspended.
The prolonged impasse has also halted the sale of stamp papers required for real estate transactions for the past two weeks, resulting in significant financial losses to the government.
According to estimates, the Revenue Department loses approx. Rs500 million in turnover every day due to the suspension of property registrations.
With transaction activity at a standstill, staff at land registration offices remain largely inactive, while property dealers say business across the district has virtually collapsed.
The delay has also affected the Punjab Excise and Taxation Department, which is yet to prepare revised property tax bills for the current financial year. Officials said the department’s tax bracket is linked to the deputy commissioner’s notified property assessment rates, making it impossible to calculate and issue commercial property tax bills until the revised schedule is officially released.
During the annual assessment exercise, the Deputy Commissioner re-evaluates the official minimum residential, commercial and rural rates across the district.
While annual revisions were traditionally capped at around 10%, stakeholders claim that over the past three years, increases have ranged from 20% to as much as 500%, prompting legal challenges at the Rawalpindi Bench of the Lahore High Court (LHC).
Sources in the deputy commissioner’s office said the revised assessment list had already been finalized but was reviewed after the appointment of the new deputy commissioner. The announcement is now expected to be issued on July 15.
Reacting to the delay, Hasan Shah, vice-president of the Property Dealers Association, said the problem had become an annual problem that unnecessarily disrupted business activity.
“The assessment form should be completed by June 30 and notified on July 1 or 2 every year so that property transactions continue without interruption,” he said.
Waheed Awan, a representative of the Stamp Vendors’ Union, said the sale of stamp paper had remained suspended for the past two weeks because the applicable property assessments had not been notified.
“Stamp papers can be issued only when the official assessment rates are available. We urge the district administration to release the revised property assessment list without further delay,” he said.
According to industry figures, Rawalpindi district normally registers 350 to 400 property registrations and 150 to 250 powers of attorney every day. However, all such transactions have remained suspended over the past two weeks, bringing the district’s real estate market to a standstill.
