Establishing Property Rights through a Secure System of Land Title Management

Land is a critical economic asset in any economy. T he need for a timely, accurate, safe, simple, secure, and universally accessible sy stem of registering and recording land transactions and interest in land is the cornerston e f a proper land market. Such land markets are an important mechanism to empower the p oor and reduce the costs of doing business. 1 Secure property rights provide asset owners the in c ntive to invest in their property while allowing easier collateralisation. W ithout secure tradable property rights, land is ‘dead capital’. Even in Pakistan, where titles are clear and transf ers are easy, land prices command a premium. For example, Defence Housing Authority ( DHA) properties are appreciably higher than similar properties in the same city. Th is is mainly because people have faith in the title and its transferability (even when we ac count for better planning and management).