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Real Estate Trends discussions and advice. Participate in ongoing dicussions and get invaluable Real Estate Trends advice from people who are experts in their industries or start a new Real Estate Trends discussion.
ZUBAIR AKHTA..
( 116 posts )

[6 Replies]
I wonder whether new budget will have positive or negative effect on real sector?
Property gurus please comment.

    1279 days ago In Real Estate Trends
    Post Answer
    Ch. Imran
    (85 posts)
    No good news so far, will know details by tomorrow.



    More taxes on sale/purchase. Construction costs also going up as taxes raised on cement, iron and other construction materials.
      1279 days ago 

      Falcon
      (4458 posts)
      Imran sb can u plz elaborate the announcements for our convenience since i missed those.
        1279 days ago 

        ZUBAIR AKHTA..
        (116 posts)
        Saadi bhai ,so far concessions on taxes for ABAD have been withdrawn as they paid very less taxes as compared to their commitments.

        Taxes on cement sector and iron industry have been increased.
          1279 days ago 

          Falcon
          (4458 posts)
          So the tax on developers has been withdrawn but the transaction cost for preospective buyers is same.Am i right?
            1279 days ago 

            ZUBAIR AKHTA..
            (116 posts)
            Saadi bhai concession on taxes for developers has been with drawn. ABAD promised to pay 28 billion rupees tax on reduced rates. Builders were able to pay only 18 million till date. So taxes have actually increased on builders.

            Nothing has been mentioned about transaction cost so far. May be tomorrow we will get a clear picture.
              1279 days ago 

              Tanzeel Aziz
              (35 posts)
              To the best of my understanding no significant changes were made in case of property sale purchase..only ammendment is if a seller sells the property within 1 year of purchase then the advance tax collected from him (1% from filer) is considered as minimum tax paid by him on this transaction..so in nutsull no changes in transaction cost.
                1279 days ago 

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