This study aims to undertake the urban immovable property valuation in major cities of Punjab, using big data and advanced spatial analysis techniques to explore the significant impact of location-specific parameters on the urban immovable property prices. It argues that the current system of valuation of immovable properties (DC rates and FBR rates) by the government agencies is inefficient, non-scientific and inconsistent. Due to the poor official property valuation system and low regulatory oversight, most of the gains go unreported, which in turn gives rise to black economy practices and loss of revenue for the national exchequer. To compute immovable property values, the study will use Geographic Information System (GIS) and Big Data analytics. Furthermore, it will also calculate the dead capital in urban centres. The study will help to establish a more sophisticated system of valuation of immovable properties based not only on the structural attributes but on the spatial variables as well.
Revisiting Urban Immovable Property Valuation: An Appraisal Of Spatial Heterogeneities Using Big Data In Punjab
DR. SHOAIB KHALID
Government College (GC) University, Faisalabad
Ms. Fariha Zameer, Mr. Muhammad Irfan Gill, Ms. Anila Shahzad