{"id":101317,"date":"2025-02-07T10:01:00","date_gmt":"2025-02-07T05:01:00","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=101317"},"modified":"2025-02-06T18:13:19","modified_gmt":"2025-02-06T13:13:19","slug":"recommendations-for-revival-of-real-estate-sector","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/recommendations-for-revival-of-real-estate-sector.html","title":{"rendered":"Recommendations for revival of real estate, construction sector shared with FBR"},"content":{"rendered":"\n<p>Islamabad: The government has finalized a set of proposals aimed at reviving Pakistan\u2019s real estate and construction sectors, designed to encourage investment and generate employment opportunities. These recommendations, developed by a task force, have been submitted to the Federal Board of Revenue (FBR) for review. The measures align with the Prime Minister\u2019s vision to boost the economy through a stronger property market.<\/p>\n\n\n\n<p>Here\u2019s a clear breakdown of the key recommendations:<\/p>\n\n\n\n<ol class=\"wp-block-list\" type=\"1\">\n<li><strong>Non-Filers Allowed to Buy Property Worth Up to Rs10 Million<\/strong><\/li>\n<\/ol>\n\n\n\n<p>In a significant change, non-filers\u2014individuals who don\u2019t file tax returns\u2014will now be allowed to purchase property up to Rs10 million. This measure aims to make the real estate market more accessible to a wider group of potential buyers, including those previously excluded due to tax filing requirements.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/2025-tax-reforms-for-real-estate.html\" target=\"_blank\" rel=\"noreferrer noopener\">Real estate set for tax overhaul as PM reviews housing sector plan<\/a><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Tax Reductions on Property Transactions<\/strong><\/li>\n<\/ul>\n\n\n\n<p>To make real estate transactions more affordable, several tax cuts are proposed:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Capital gains tax on property sales would be reduced from 3% to 1.5% for certain transactions, and from 4% to 2% for others.<\/li>\n\n\n\n<li>The tax on property purchases would drop from 3% to 0.5%.<\/li>\n<\/ul>\n\n\n\n<p>These reductions will lower the overall tax burden on property deals, which currently ranges from 11% to 14%.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Lowering Overall Tax Burden<\/strong><\/li>\n<\/ul>\n\n\n\n<p>The government is proposing to lower the total tax burden on property transactions to 4% to 4.5%, a substantial reduction from the current rates. This is expected to make buying and selling property more attractive and less costly.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/fbr-tax-laws-amendment-bill-2024.html\" target=\"_blank\" rel=\"noreferrer noopener\">Tax Laws Bill 2024: Real estate sector urges relief, FBR stresses compliance<\/a><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Overseas Pakistanis Given Easier Access to Property Investments<\/strong><\/li>\n<\/ul>\n\n\n\n<p>The proposal includes measures to make it easier for overseas Pakistanis to invest in the real estate market. NADRA will provide an online registration facility, allowing overseas investors to register and purchase property more easily from abroad.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Filers Allowed to Declare Property Worth Up to Rs50 Million<\/strong><\/li>\n<\/ul>\n\n\n\n<p>For tax filers, the new recommendations propose allowing them to declare property valued up to Rs50 million in their wealth statements, which will help ensure greater transparency in property transactions.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Regulation of Land Use to Tackle Illegal Housing Societies<\/strong><\/li>\n<\/ul>\n\n\n\n<p>The Punjab government has also proposed the establishment of a Special Planning Authority to regulate land use and curb the proliferation of illegal housing societies across the province. This will help ensure that property developments are properly planned and comply with legal regulations.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/overseas-pakistanis-get-real-estate-tax-relief.html\" target=\"_blank\" rel=\"noreferrer noopener\">Overseas Pakistanis get real estate tax relief under new FBR initiative<\/a><\/p>\n\n\n\n<p>These reforms aim to make the real estate market more attractive to both local and foreign investors, ultimately driving growth in the sector. The government is hopeful that these recommendations will create a favorable environment for investment, stimulate the economy, and provide more job opportunities as the real estate and construction sectors recover.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The government has finalized a set of proposals aimed at reviving Pakistan\u2019s real estate and construction sectors, designed to encourage investment and generate employment opportunities. These recommendations, developed by a task force, have been submitted to the Federal Board of Revenue (FBR) for review. The measures align with the Prime Minister\u2019s vision to boost the economy through a stronger property market. Here\u2019s a clear breakdown of the key recommendations: In a significant change, non-filers\u2014individuals who don\u2019t file tax returns\u2014will now be allowed to purchase property up to Rs10 million. This measure aims to make the real estate market more accessible to a wider group of potential buyers, including those previously excluded due to tax filing requirements. Read: Real estate set for tax overhaul as PM reviews housing sector plan To make real estate transactions more affordable, several tax cuts are proposed: These reductions will lower the overall tax burden on property deals, which currently ranges from 11% to 14%. The government is proposing to lower the total tax burden on property transactions to 4% to 4.5%, a substantial reduction from the current rates. This is expected to make buying and selling property more attractive and less costly. Read: Tax&hellip;<\/p>\n","protected":false},"author":18,"featured_media":86324,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015],"tags":[3281,24276,7498,60344,62408,62409,2324,3619,62406,6358,1685,17738,62407,62403,62405,3056,62412,3237,1777,62404,60563,62410,62411,7451,62402],"persona":[],"class_list":{"0":"post-101317","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-legal-taxation","8":"tag-capital-gains-tax","9":"tag-construction-sector","10":"tag-economic-growth","11":"tag-employment-opportunities","12":"tag-government-proposals","13":"tag-housing-sector-reform","14":"tag-illegal-housing-societies","15":"tag-investment-opportunities","16":"tag-nadra-registration","17":"tag-non-filers","18":"tag-overseas-pakistanis","19":"tag-property-market","20":"tag-property-market-growth","21":"tag-property-purchases","22":"tag-property-regulations","23":"tag-property-taxes","24":"tag-property-transparency","25":"tag-punjab-government","26":"tag-real-estate-investment","27":"tag-real-estate-policies","28":"tag-real-estate-reforms","29":"tag-real-estate-revival","30":"tag-special-planning-authority","31":"tag-tax-filing","32":"tag-tax-reductions","33":"cat-15015-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Recommendations for revival of real estate sector - Zameen News<\/title>\n<meta name=\"description\" content=\"The reforms aim to make the real estate market more attractive to both local and foreign investors, ultimately driving growth in the sector...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/recommendations-for-revival-of-real-estate-sector.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Recommendations for revival of real estate sector - Zameen News\" \/>\n<meta property=\"og:description\" content=\"The reforms aim to make the real estate market more attractive to both local and foreign investors, ultimately driving growth in the sector...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/recommendations-for-revival-of-real-estate-sector.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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