I wonder whether new budget will have positive or negative effect on real sector?
Property gurus please comment.
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.
Imran sb can u plz elaborate the announcements for our convenience since i missed those.
Saadi bhai ,so far concessions on taxes for ABAD have been withdrawn as they paid very less taxes as compared to their commitments.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.
So the tax on developers has been withdrawn but the transaction cost for preospective buyers is same.Am i right?
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.
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.