Punjab Board of Revenue has started a new project called Cadaster of Punjab. Under this project, the provincial government will create a digital map of urban centres all across the province.
Through this project, the government intends to remove Khasra (the legal Revenue Department document) number linked to real estate assets. The Khasra number has impeded the real estate sector due to several unsolicited factors.
The project is divided into two phases. In the first phase, the digital maps of all the buildings will be created. In the second phase, unique numbers will be assigned to buildings all across the provinces.
The urban blueprint of Lahore has also been drafted under the same filing in coordination with the Survey of Pakistan.
Specifics such as area, value, and ownership details will be made digital to maintain proper records.
The project has secured foreign investments worth $150 million, which will help in the formation of the digital records within the next few months.
Before this development, the Punjab Board of Revenue has approved legislations. Under its regulatory framework, the offices of private housing societies will be declared public.
The new law has also levied strict legal action against the housing societies that regularly evade scheduled audits.