NSIT Residencia: CBD Punjab to auction residential plots in June
LAHORE: The Punjab Central Business District Development Authority (PCBDDA), also known as the Central Business District Punjab (CBD Punjab), is all set to hold the auction of premium residential plots in NSIT Residencia this June.
Building on the momentum of four previously successful auctions, this latest venture marks another bold step forward in the authority's mission to redefine urban living and development in Punjab.
NSIT City is envisioned as a dynamic urban center comprising three districts IT, Education and Film districts, Located adjacent to DHA Phase 6 and 7, said a spokesperson of the Authority here on Friday. NSIT Residencia sits at the heart of this transformative zone, making it a strategic and future-ready investment opportunity offering unmatched accessibility to key locations within Lahore. Positioned as the next sought-after address in the provincial capital, NSIT Residencia combines luxury living with smart city infrastructure, providing investors with an exceptional opportunity.
CBD Punjab is offering four premium plots of up to four kanals each in this prime location. The reserve price has been set at PKR 95 million per kanal, with earnest money fixed at PKR 20 million. To ensure greater ease and accessibility for potential buyers, a flexible three-year payment plan has been introduced, making this an attractive prospect for both local and overseas investors. Applications for the auction must be submitted by June 16, 2025.
Commenting about the upcoming auction, CEO CBD Punjab, Imran Amin, said: 'NSIT Residencia is a key part of our vision for a future-ready Punjab. By integrating IT, education and film districts within a single urban ecosystem, we are creating a city of opportunity. This auction is not just a real estate event it's an invitation to invest in the next chapter of Punjab's growth story.'
The development of NSIT Residencia is expected to generate a positive ripple effect on the regional economy. From job creation and increased real estate value to improved infrastructure and sustainable urban planning, the auction will contribute significantly to Punjab's socio-economic advancement.
Copyright Business Recorder, 2025
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Recorder
an hour ago
- Business Recorder
KP govt disburses loans under youth empowerment scheme
PESHAWAR: The Government of Khyber Pakhtunkhwa has disbursed hefty amount in head of interest-free loans across the province under 'Ehsaas Naujawan Programme', aimed at enabling youth to start businesses and secure dignified employment. The project is being implemented under the leadership of Chief Minister Ali Amin Khan Gandapur and the supervision of Provincial Minister for Sports and Youth Affairs, Syed Fakhar Jehan. The Directorate of Youth Affairs, Khyber Pakhtunkhwa, is executing this mega interest-free loan scheme to empower the youth economically. The loans are being disbursed through the Bank of Khyber and Akhuwat Foundation. According to the received data, since the inception of the program, the Bank of Khyber has disbursed loans worth PKR 220 million. Out of received applications in the bank, 145 loans have been approved for viable and income-generating business ventures. Copyright Business Recorder, 2025
Business Recorder
2 hours ago
- Business Recorder
0.01pc decline
KARACHI: Rupee depreciated against the US dollar during the previous week as it lost Re0.04 or 0.01% in the inter-bank market. The local unit closed at 282.02, against 282.06 it had closed the week earlier against the greenback, according to the State Bank of Pakistan (SBP). A rise in import demand has put pressure on the local currency, according to analysts. Meanwhile, the foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $70 million on a weekly basis, clocking in at $11.52 billion as of May 23, data released on Thursday showed. Total liquid foreign reserves held by the country stood at $16.64 billion. Net foreign reserves held by commercial banks stood at $5.12 billion. The central bank did not attribute any reason to the increase in the FX reserves. Open-market rates In the open market, the PKR lost 25.00 paisa for buying and 40.00 paisa for selling against USD, closing at 282.90 and 284.15, respectively. Against Euro, the PKR lost 4.56 rupees for buying and 4.30 rupees for selling, closing at 320.52 and 322.86, respectively. Against UAE Dirham, the PKR lost 15.00 paisa for buying and 10.00 paisa for selling, closing at 77.14 and 77.55, respectively. Against Saudi Riyal, the PKR lost 22.00 paisa for buying and 15.00 paisa for selling, closing at 75.48 and 77.85, respectively. ========================================= THE RUPEE ========================================= Weekly inter-bank market rates for dollar ========================================= Bid Close Rs. 281.97 Offer Close Rs. 282.17 Bid Open Rs. 281.66 Offer Open Rs. 281.86 ========================================= Weekly open-market rates for dollar ========================================= Bid Close Rs. 282.90 Offer Close Rs. 284.15 Bid Open Rs. 282.65 Offer Open Rs. 283.75 ========================================= Copyright Business Recorder, 2025
Business Recorder
2 hours ago
- Business Recorder
Budget FY26: fiscal discipline without reform
Fiscal consolidation continues. FY26 is expected to be the third consecutive year of a primary fiscal surplus. This should help lower the public debt-to-GDP ratio and provide some cushion for future growth. However, economic strangulation is also likely to persist, as the government remains reliant on higher direct taxes without offering any relief to salaried individuals or the corporate sector. This is not going to be a revolutionary budget. It is simply a continuation of policies already agreed upon with the IMF. Pressure on tax revenues will remain. As interest rates decline, banks and depositors' incomes will fall — dragging down the corresponding tax collections. Income from the oil and gas sectors may decline due to reduced domestic production (to accommodate imported RLNG) and subdued global prices. Fertilizer sector margins are expected to stay suppressed. Consequently, direct tax collection at current rates may be lower in FY26 compared to key contributors the preceding year. Meanwhile, the IMF is pushing for implementation of the National Tariff Policy (NTP), but the government is hesitating. The FBR is concerned about lower collections from customs duties. The question, then, is how to plug the fiscal gap. The standard response is to go after retailers and wholesalers and talk of expanding the tax net. History suggests these efforts rarely yield results. There are gaps in the revenue framework. This is why the IMF has not agreed to reducing the effective tax burden on salaried individuals or to scrapping the super tax on corporates. The Federal Excise Duty (FED) on certain items is likely to be increased — or newly imposed, including on cigarettes and ultra-processed foods. But without better enforcement, these measures will only push more activity into the informal economy. Already, the formal footprint in sectors like dairy and fruit juice is shrinking due to recent indirect tax hikes. Poor governance and the prevalence of other taxes will dilute any benefit from reducing import tariffs. While economic theory supports lower tariffs to disincentivize smuggling, other taxes create perverse incentives. For example, the FBR collects withholding tax (WHT) and sales tax at the import stage, followed by GST and FEDs on final products. Ideally, these taxes should also be reduced — but that is wishful thinking. In fact, the FBR is proposing new, unconventional taxes — such as a 1.5 percent WHT on all imports. If the NTP is implemented, lower import prices may drive up import volumes, increasing pressure on the PKR. In response, the FBR may increase GST or FED on selected goods, such as automobiles. One area urgently needing reform is the customs department. Rampant under-invoicing not only erodes tax revenue but also undermines domestic manufacturing. Without fixing this, the effectiveness of the NTP will be limited. The FBR, however, appears desperate. There is already a shortfall of Rs 1 trillion in tax revenue during the first 11 months of FY25, and meeting the FY26 target will be even more difficult. As always, the burden will fall on the already-taxed formal sector. Non-tax revenues are expected to perform well. The SBP is likely to post another bumper year of profits, driven by over Rs 13 trillion in open market operation (OMO) injections. Last year, the SBP contributed Rs 2.5 trillion to non-tax revenues, and a similar figure is expected this year. The government is also relying on petroleum levy, which already stands at around Rs 80/liter and may be increased to Rs 100/liter. Additionally, a carbon levy of Rs 5–10/liter is under consideration. There is limited space for expenditure cuts, aside from some savings in interest payments on debt. The government has reportedly secured IMF approval for a significant increase in defence spending. However, negotiations are ongoing regarding the size of the development budget. Regardless of what is initially allocated, it is likely to be trimmed later if tax revenues from retailers and the real estate sector do not materialise. In conclusion, the upcoming FY26 budget reflects a cautious, IMF-driven approach—prioritizing fiscal consolidation over transformative change. While primary surpluses and robust non-tax revenues, bolstered by SBP profits and petroleum levies, offer some macroeconomic stability, the continued reliance on existing taxpayers and indirect taxes risks stifling growth and further entrenching informality. Without bold reforms—particularly in customs enforcement and tax administration—structural weaknesses will persist, limiting the effectiveness of flagship measures like the National Tariff Policy. Though lower commodity prices and fiscal discipline may support modest growth in FY27 and FY28, the absence of meaningful structural change leaves Pakistan's fiscal trajectory precariously balanced. Copyright Business Recorder, 2025
