18
Aug

HOUSING SERVICE CELL

HOUSING SERVICE CELL

A step up by Zaigham M. Rizvi

(related email correspondences)

 

I am happy that you people have formed this group. As I see queries from different people, and we seems to be late, but still ahead of many people in the area.

You may focus on the following areas. I may suggest as:

  1. Taxation matters:

 

While Govt has announced many tax incentives for the construction industry, market players are not yet clear on their applicability. Good things are that FBR has announced these measures and indeed in its own language. Only Tax Experts like Aziz Bhai can guide beneficiaries as to how one can safely benefit from these and what stipulations would be needed in the business models and agreements to feel safe that these concessions would be available.

Focal Person: Aziz Nishtar

 

  1. Developer Finance and Mortgage Finance:

Developer Finance: How can a developer can get finance for its project, under different models, including Tripartite Agreements. I am not sure that SBP Guidelines are yet clear, by developers are asking questions on this.

Retail Housing Finance: Then is the retail finance. Here again, the issue will be that Banks are only familiar with Formal/Documented Income assessment, while the clientele from low-income segment will largely originate from “Informal Income Segment”. Banks are not used to it. Then we need “Clubbing of Family Income” in this segment. SBP is currently working on this and I am engaged with SBP and IFC on this. A developer would like to be guided/consultancy as to how we prepare its potential clientele for getting loans on this.

Tripartite Agreements for Finance: Involving Developer, Banks and end Clientele.

Focal Persons: Mian Qadeer Punjab and KPK        Akram Tariq Sindh and Baluchistan

 

  1. Verification of Titles and preparation of Mortgage Documents:

 

For a large size projects, it will be different from the retail title verification and creation of mortgages.  At some stage we will have to go for standardization of mortgage documentation.

Focal Persons: Mian Qadeer Punjab and KPK        Akram Tariq Sindh and Baluchistan

 

  1. Overall Research and Reference Library:

You need to develop a digital and physical library on all related Govt Announcements, Policies, Packages as well as Press Clippings

Focal Person: Mr. Sayef Hussain