The real estate sector is the most famous, in which local and foreign investors invest in this area. What’s the reason, behind their investment, and why did they choose it? Not only this, we will discuss, why give the real estate status of the industry. Which factors are including making the real estate sector an industry?
Definitely, there is a great impact of investments in real estate and in Pakistan’s economy. It’s a big deal due to this Pakistan not only growing, but it’s also supporting the other industries in Pakistan.
Since 2010, the development of the real estate sector is remarkable due to the revolution of luxurious real estate that boosts up it’s worth.
Moreover, the government also played a vital role in raising the industry, they paid attention to housing schemes.
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Let’s take a look at why give the real estate status of the industry;
WHY GIVE THE REAL ESTATE STATUS OF INDUSTRY?
As you know that many corruptions appeared on board in the real estate industry while purchasing or selling a property. If we talk about the developers, what they do in Pakistan real estate, and how they are manipulating the public in the name of housing societies.
Moreover, the developer starts selling properties on files after the approval of government authorities. But the corruption started, when they handed over one file to the buyer and the buyer further sold the same file to more persons.
Further, the developer has only the proof of one buyer who purchased it first. The other purchaser doesn’t have proof this file is on their names. Their people do fraud in this sector and grab a heavy amount from the purchaser. And the saddest thing is that purchasers can’t claim or prove they bought the same file from somebody.
To stop all kinds of burglaries, there should be regular authorities who must keep a check and balance on these illegal activities in the sector of real estate.
Benefits of giving the real estate status
Now we discuss the general benefits of you give the real estate status;
- Easily accessible in the chamber of commerce due to this, many issues will be resolved in the real estate sector.
- The real estate sector will be registered and regulated.
- It would be convenient to get to know documentation and involvement in the real estate sector’s activities.
- Public trust will develop in real estate.
- The situation will be improved for all stakeholders if the companies will be formed.
- If companies will be formed, they can easily invest in the stock exchange and get a profit on their shares.
To sum up the whole conversation, we discussed the real estate status and how much important it is. Not only this, but we also mentioned its benefits, due to these benefits real estate industry will grow and be safe from all kinds of manipulating activities. And the public trust in the real estate sector can be boosted.