Biometric Verification System For Safer Property Transactions

As the real estate industry in Pakistan is blooming rapidly, this has increased the risks of scams, frauds, and forgery. This can not only be seen in the form of illegal housing projects, and unauthorized dealers, but also in the form of forgery or scams that are carried out during property transactions.

However, you need not worry as CDA in collaboration with NADRA has signed an agreement to introduce a biometric verification system for safer property transactions.

In this era of digitalization, there is a very dire need to upgrade several industries including the real estate industry in Pakistan. This can be done in several systems such as introducing an online verification system, an online land registry system, and devising a conceptual master plan according to modern urban planning principles.

Considering this need for avoiding forgery and digitally revolutionizing the industry, the chairman of the Capital Development Authority Amir Ali Ahmed, and the chairman of NADRA Tariq Malik held a meeting at NADRA headquarters. The outcome of the meeting was a mutually signed agreement, in which both the institutes agreed to introduce a biometric verification system to facilitate the processes of buying, selling, and transferring properties and making them transparent.

According to Dawn, Mr.Tariq Malik highlighted the importance of a biometric verification system for safer property transactions. He stated that this system will ensure the identity of both buyer and seller bringing down the chances of unlawfulness and scams. He further added that the compliance of “know your customers” (KYC) will also be fulfilled through this system.

CDA chairman Amir Ali Ahmad expressed his vision of digitizing the real estate industry and stated that this partnership between CDA and NADRA will further strengthen and cement this vision of him.

Biometric Verification System is indeed a great initiative by CDA that will not only contribute toward making the real estate industry progress but also save the public from certain frauds and forgery acts.