Project registered with FBR: First buyer of property not required to explain source of funds

According to frequently asked questions (FAQS) on the construction package issued by the FBR, the FBR has confirmed that the incentives are available for the purchasers in terms of requirement to explain source of funds. The first purchaser of a building or a unit in the building is not required to explain the source of funds used for purchase from a project registered with FBR under this scheme if the complete payment is made before 30th Sep’22 and is made through banking channels. Similarly, the source of funds will not be inquired into if a plot is purchased by 31st Dec’20, and the payment is made by Dec’20 through banking channels.