The FBR\’s New Property Valuation Notification for Karachi has issued new property valuation rates under SRO 1724(I)/2024, effective from November 1, 2024. This updated valuation sees increases between 10% to 150% across residential and commercial properties in 40 major cities, aligning with fair market prices. Karachi’s key areas Bahria Town, Gulshan-e-Maymar, and DHA City are […]
The world of real estate can be complex, especially when it comes to understanding taxes, Recent changes in real estate taxation aim to stabilize the market, make housing more affordable, and ensure that everyone pays their fair share. In this blog post, we\’ll break down these changes into simple terms to help you understand how
Real Estate Taxation Recent Changes Understanding: A Simplified Guide Read More »
Today, the Pakistan government announced significant tax reforms in its Budget 2024. These changes aim to streamline tax policies, increase revenue, and regulate various sectors. Here are the key highlights: Sales Tax Reforms in Budget 2024 The government has introduced major changes to the sales tax system to create a more uniform and equitable structure:
Pakistan Budget 2024: Key Tax Changes and Impacts Read More »
Introduction: The government is poised to implement major changes in the real estate tax landscape. With proposed hikes in tax rates for property transactions and a push to include capital gains in taxable income, both buyers and sellers must brace for significant financial impacts. Key Points: Proposed Tax Rates: Transactions up to Rs50 million: 3%
Upcoming Real Estate Tax Hikes: Higher Rates for Buyers and Sellers Read More »
Introduction section 7E: Recently, the government implemented Section 7E, a controversial provision related to Deemed Income on Capital Assets under the tax laws. This new section, akin to a capital value tax, has raised concerns as some argue it falls under provincial jurisdiction, leading to challenges in higher courts. Nevertheless, the Sindh High Court (SHC)
Section 7E: Deemed Income on Capital Assets & Its Implications Read More »
New FBR rates list would be raised by an average of 10% to 150% across the country. FBR has revised the upward values of residential and commercial immovable properties in 40 major cities of the country in order to set fair market worth. In this regard, FBR has pushed around 40 notifications this Wednesday to
New FBR rates list of property increase from 10% to 150% nationwide. Read More »
The rental laws have become part of the constitution of Pakistan back in the 1950s. The main purpose of introducing these laws is to define the rights and responsibilities of renters and landlords. The laws are almost identical for all provinces of the country including Sindh, Punjab, Khyber Pakhtunkhwa, and Balochistan with few additional clauses
Rental Laws in Sindh – Comprehensive Knowledge for Landlords and Tenants Read More »
Pakistan has a lot of potential for growth in every sector. The government is also taking steps to improve economic conditions to subsidize sectors, which surely has a positive recurring effect. However, the ancient practices and outdated laws are still major hurdles on the path of a flourishing real estate sector. The industry is currently
(RERA)Real Estate Regulatory Authority Will Revamp The Businesses? Read More »
Under the financial budget 2020-21, the federal government of Pakistan has announced the allocation of funds for several mega projects in the capital city Karachi. As per sources, the allocation of funds includes the mega project of Greenline Bus Rapid Transit System (BRTS) and other projects pertaining to roads, transport, and sewerage system in Karachi.
Federal Government Allocated Funds For Karachi Read More »
The federal government has recently announced the financial bill for the year 2020-2021. let us explore the Real Estate Budget of Pakistan 2020-21 Reliefs points. 1) FED on Cement The FED on cement is proposed to be charged at Rs 1.75 per kg. The previous charges were Rs 2 per kg. 2) Capital gain tax
8 Points of Real Estate Related Specific Budget of Pakistan Reliefs Read More »
