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ASAD
( 865 posts )

[40 Answers]
New rule and taxes in property inviting slump after july 1st.
Dc rate direct current in west or deputy commissionaire rate in pakistan not valid from july 1st . Sbp valuer now will evaluate property individually instead of general and put taxes accordingly, ,already heavy taxes for fillers and non filler implemented , very sad , this corrupted govt now major partner in everything you earn without providing anything good in anyone life , gate for slump now opened , who will stop property crises now ?? Instead of implementing agriculture tax and amendment in law , instead of developing univ and hospital in rural areas instead of banning construction of c class societies on agriculture land , and stopping people moving to cities , instead of saving agriculture land for agriculture these short cut lovers corrupted , dishonest,sluggish money launderers , feudal lords in govt come up with more short cut ways to target hard working people . Very sad indeed . Welcome slump and correction .

    1233 days ago In News
    Post Reply
    Kami
    (24 posts)
    Can you explain in laymen terms what these new taxes are and how they will work? Every year after budget i hear same thing that property market will crash.
      1233 days ago 

      Prop Guide
      (6961 posts)
      Asad sb,

      Give it a little time, things will be clear and I hope it will not be that horrible as you had painted above. Indeed it will have negative impact on the market but not complete destruction. Things will come to normal with passage of time.

      Regards
        1233 days ago 

        N
        (1 post)
        The new tax regime is going to make things uncertain for a while. The market might stagnate for a month or two before the implementation of the new law is clarified to land authorities, dealers, property owners, investors and potential buyers. The implementation is easier said than done - involving state bank and external evaluators is simply going to complicate matters. The market value is usually determined by plot prices being demanded and supplied, which indicates that the new DC value will be high and so will be the tax, people who have bought the land on high prices will not offer a cheaper price, will they? Secondly the evaluators hold a position that they can very easily misuse. What if the buyer and seller are in agreement to show a less buying/selling price? these and similar scenarios will determine the fate of the market.



        On a separate front, if we analyse the flow of investment. Land has always prevailed as a good investment in Pakistan, thanks to the political and economical mess ups and their affects of industry and stock market. I don't see this regime encouraging the flow of money towards the crippling industry. This might encourage people to take their money out via 'hundi'. The property market is definitely at a crossroad!
          1233 days ago 

          Ahmed
          (48 posts)
          Todays Jangnewspaper news really affect the property prices







          http://e.jang.com.pk/07-01-2016/lahore/pic.asp?picname=1631.gif
            1232 days ago 

            Falcon
            (4444 posts)
            Ahmed ..Sir its easier said than done..
              1232 days ago 

              Ahmed
              (48 posts)
              Saadi sb no doubt its not easier to implement but if they r succeeded to implement it then it would have a huge effect on property prices and it seems gov have strict instruction to collect taxes from foreign donors and this way they can collect huge taxes from property and can also change the direction of investment from property to industry which is much required in the current scenario.
                1232 days ago 

                Falcon
                (4444 posts)
                @ahmed sb..Sir which industry?Is there any industry left in Pakistan? Seems highly unlikely plus it can stagnate the prices because people are not willing to sell their properties at lower prices..Prices won't come down in my opinion.
                  1231 days ago 

                  AKhhan
                  (24 posts)
                  Non filer need to pay taxes for last ten years of transactions and filers will pay for transaction done in last five years..
                    1231 days ago 

                    Falcon
                    (4444 posts)
                    Sir filers will have to pay nothing since their transactions are already recorded and they got this money through legal means..
                      1231 days ago 

                      AKhhan
                      (24 posts)
                      Http://e.jang.com.pk/07-01-2016/Pindi/pic.asp?picname=53.gif
                        1231 days ago 

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