+- Pakistan Real Estate Times - Pakistan Property News (https://www.pakrealestatetimes.com)
+-- Forum: Pakistan Real Estate / Property News (/forumdisplay.php?fid=1)
+--- Forum: Latest Pakistan Property & Economic News (/forumdisplay.php?fid=4)
+--- Thread: Planning Commission suggests end to Land Acquisition Act (/showthread.php?tid=12742)
Planning Commission suggests end to Land Acquisition Act - Lahore_Real_Estate - 02-05-2011 04:49 PM
KARACHI: Planning Commission of Pakistan has recommended an end to the use of Land Acquisition Act, 1894.
Its Task Force Report on Urban Development says the use of the act has exacerbated the low-density urban sprawl by making cheap agricultural land at the peri-urban areas attractive.
The report was launched at a roundtable discussion chaired by Dr Nadeem-ul-Haque, Deputy Chairman, Planning Commission, on Friday.
By 2030, 49.8 percent of Pakistan’s population will be living in urban areas and about 17 cities will have more than one million people, the conference was told.
The existing urban physical, social and institutional infrastructure is not equipped to face this challenge which is why chaos in many aspects is apparent in cities, says the report.
To deal with this situation, the Task Force recommends repeal of laws, byelaws and zoning regulations that suppress real estate development, as they have the effect of locking land and preventing it from entering into the real estate market, it adds.
Such laws and byelaws include those that impede the right of property owners to develop it in a manner that responds to market demand, the task force says.
“Laws and byelaws should also be reviewed to see if they cause distortions in the prices of real estate. Unregulated commercialisation spells ruin for property prices in existing commercial areas and allows the owners of residential plots to claim an unearned windfall benefit. Such distortions through unregulated commercialisation in the property market must be put an end to.”
It also recommended formalisation and regulation of urban property markets.
In order to raise the standards practised in the real estate market and in order to bring some transparency into property transactions, a national real estate developers association should be promoted with the power to set and maintain professional standards, says the task force.
The essence of cities, in the view of the Task Force, is that they are places where human interaction spurs economy, innovation and civilisation. To this end, laws and byelaws in place in urban areas that promote segregated land use and low-density sprawl should be rejected in favour of laws and byelaws that support high density, mixed use, pedestrian-friendly urban spaces with abundant recreational spots.
“City limits should be clearly demarcated and no additional urban development should be undertaken outside them except with an Environmental Approval obtained from the Environment Protection Agency.”