Lahore Property Market Faces Major Shift Under New Rules

 LAHORE: (Web Desk)  Thousands of property investors in Lahore may need to adjust their buying and selling practices as authorities move to abolish the long-standing system of trading property files.

The Lahore Development Authority (LDA) has announced that, effective July 1, file-based property transactions will no longer be permitted in housing schemes operating under its jurisdiction.

Under the new framework, plot transfers in both public and private housing projects will only be conducted through Property Certificates issued via the Punjab Land Records Authority (PLRA) system.

The decision was finalized during a meeting chaired by Tahir Farooq, which was attended by senior planning officials, representatives of private housing societies, the Association of Builders and Developers, PLRA officials, and members of the Punjab Board of Revenue.

Housing societies have been instructed to migrate their records to the PLRA’s Housing Societies Management System (HSMS) by June 30. Officials said the initiative is designed to enhance transparency, prevent fraudulent transactions, and strengthen investor confidence in the property market.

Authorities have also warned that legal action may be taken against housing schemes that fail to comply with the new digital requirements.

Under the updated system, societies will be able to issue registrations and Green Certificates through an online platform. Each Property Certificate will include a QR code, allowing buyers and investors to instantly verify ownership records and property details.

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The reform follows a series of property-related controversies in which investors were affected by forged documents, missing records, and projects where the number of files sold exceeded the number of approved plots.

In several cases, investors reportedly paid for properties that were never delivered, leading to legal disputes and increased regulatory scrutiny.

Officials believe that shifting to a certificate-based digital system linked directly to authenticated land records will significantly reduce the risk of fraud while promoting greater trust and transparency within the real estate sector.