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Investor
( 163 posts )

[1183 Replies]
Pakistani rupee value is doing a nose dive and currency value has depreciated 30% compared to british pounds since 2017.

I bought 2 plots back in 2015 in bahria town. Even though the price of plots have gone up by 10% each year, the value of currency however depreciated and the investment is completely worthless.

Anyone seeing anything positive coming out of pakistan's economy in the next few years?

    289 days ago In Where to Buy
    Post Reply
    Abdul Qayyum
    (2021 posts)
    Suhail sb
    Slick sb
    What a fun really. Cannot stop laughing !
    ہر شاخ پہ الو بیٹھے ہیں
    انجام گلستاں کیا ہو گا ؟
    Looking everything bad is a state of mind, not a healthy analysis !
      63 days ago 

      Imtiaz
      (1241 posts)
      Just wonder, how and who will take the guy serious when urging/threatening others to do, what he himself had failed:


      Defend Pls, as per norms. Not for ones suffering from fact-allergies or the ones who have recently found a Messiah.

      (1) Reported Wealth: $50 million
      (2) Declared Asset to ECP by Jun 30, 2018: 38,694,493 PKR
      (3) Assets: 168 acres agriculture land, MNA’s salary, PCB pension, bank profit.
      (4) USD Acc1: holding $379,760, Acc2: $1,470 (£1,152) GBP £7,068.
      (5) 14 Properties in PAK (claimed as 'inherited')
      (6) Bani Gala 305 Kanal **declared as worth: Rs 11,471,000** (yes, you read it right)
      (7) London flat declared only under Tax Amnesty (83 to 2003, not declared in Tax Returns)
      (8) Apartment in Diplomatic Enclave

      Bonus: Niazi Services Offshore

      --> Tax Pid for (1) + (2) + (3) + (4) + (5) + (6) + (7) + (8) = Rs103,763 (yes, read right again)

      Bonus: Niazi Services Offshore

      ** For a commoner: CGT + CVT + Duty + Withholding = upto 17% even for filer.

      Ijazat ho to thora ghabraa lain?

      Among most Charitable nation lies one of the biggest Tax Evaders but there is a reason for that, i.e., bloody leeches from past and now!
      -----------------------

      Imran Khan net worth: How much is new Pakistan Prime Minister worth? What is PM's salary?
      https://www.express.co.uk/news/world/1005131/Imran-Khan-net-worth-news-Pakistan-how-much-is-Imran-Khan-worth-what-is-salary

      Imran paid a little over Rs100,000 as tax in 2017
      https://www.dawn.com/news/1465524

      Imran Khan avoided taxes via offshore company: German journalist
      https://www.dawn.com/news/1348962
        63 days ago 

        Ilyas
        (343 posts)
        @ Sohail Sahib...... Brainy Analysis........

        In UK, They measure the improvement in economy with the CONSTRUCTION INDUSTRY...Because Construction keeps the ball rolling of the rest of all industries in the country......
          63 days ago 

          JDM
          (730 posts)
          ....

          Yes, government amnesty/tax is starting to see results.

          Got 4 calls today from sellers ready to accept my offers which they declined about 6 months ago. So I lowered my current offer even further down by 10-20%.

          I recommend all buyers to negotiate hard till the lowest deals possible. Also only those should buy who can hold it for long-term as market can further decline as well. No guarantees!!!
            63 days ago 

            Imtiaz
            (1241 posts)
            Market Decline = Deteriorating Economy & Stagnant Real Estate (in general) for 12+ months straight.

            Amnesty already on a ventilator since birth...

            Seriously thinking to give an offer to that 305 Kanal Bani Gala owner who has decalred that, worth @11,471,000 PKR: 36722 PKR/Kanal (official ECP docs)

            Wish me luck...
              63 days ago 

              JDM
              (730 posts)
              You are right Imtiaz.Imran Khan should also declare everything as the law at the full price of purchase. I fully suppport you on that.


              Also FBR should change the law and everyone must declare all assets every year as per the current market value.
                63 days ago 

                Sohail Khan
                (176 posts)
                The wishes have no limit ....I can wish to buy a plot in Islamabad F sector on half price as property prices are crashed now, find me one if any one has.

                I doubt any developed area will see hardly any decline, there is a shortage of 11-12 million houses in Pakistan till today.

                The drawback could be for the people who were holding multiple plots on the hope to sell on profit one day, their money might struck now for long as currently will be difficult to find a quick buyer but in long run the things will improve as the genuine demand of land in this dense populated country is there and will remain.
                  63 days ago 

                  Imtiaz
                  (1241 posts)
                  Take that as Market Decline, Correction or need for cash. Bring in hardcore cash for same day payment and upto 10% or more waive off is no surprise - speaking in general.

                  Sohail bhai, there is a shortage but due to *High Inflation* even basic necessities are getting out of reach. Till USD to PKR Parity stabilizes, only miracles could help the market.

                  - Overseas saving to the point where deprecation stops for a while

                  - Locals having savings burnt-off due to PKR-driven accounts.

                    63 days ago 

                    Sohail Khan
                    (176 posts)
                    Imtiaz sb, If I understood correctly, earlier there was no capital Gain tax CGT on house if to sell it after three years of purchase and now this exemption of gain tax is after 5 years for house and 10 years for plot. CVT and WHT any buyers has to pay at the time of purchase anyway.

                    I am just asking to make my self understand.
                    So if someone buy a house today on 5 million and after 5 years its worth is 50 million , how much tax he/she needs to pay after 5 years for every year tax returns for that house still used for personal living.?

                    This to further clarify for beter understanding that in the above scenario the IK's ever quoted bani gala house purchased 30-35 years back on 1-2 crore owing what tax returns each year.
                      63 days ago 

                      Zameen Admin
                      (284 posts)
                      Respected forum members, kindly avoid the usage of unnecessary political slurs in discussion as they taint a conversation with negativity and serve no purpose except inflaming other members.

                      Your frustration and anger may be justified, but rudeness to other members with an opinion divergent from yours is most definitely not justified.

                      We will be removing such posts more actively without a regard for how valuable it may otherwise be.
                        63 days ago 

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