The Punjab government has announced major reforms in the real estate sector with the enforcement of the Stamp Ordinance 2026, formally granting legal status to assignable property documents.
According to details, a new simplified and transparent system has been introduced for property investment. Under the new framework, only 1 percent stamp duty will be applicable on assignable documents for up to 12 months, while no additional taxes will be imposed on such instruments.
Director General of the Punjab Land Records Authority (PLRA), Ikram-ul-Haq, said that the difference in taxation between urban and rural areas has been eliminated. He added that stamp duty on agricultural land has been significantly reduced, while efforts are underway to discourage informal advances and file trading in the property market.
He further stated that property transactions have been made more secure through the e-registration of assignable documents, which is expected to significantly reduce the chances of fraud. The new system also allows property rights to be transferred to another party through assignable documents.
The PLRA chief said the initiative will encourage investment in the real estate sector and help stimulate economic growth in the province.
