![\"IMG-20161029-WA0041\"](\"http:\/\/www.zameen.com\/blog\/wp-content\/uploads\/2016\/10\/IMG-20161029-WA0041.jpg\")
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Over 2000 real estate agents in Karachi staged a protest on Saturday, October 29, 2016 over the implementation of the new tax regime. These agents reached Karachi Press Club in the form of different rallies and held a press conference there, voicing their demands. Although a majority of these agents were registered dealers of Bahria Town Karachi, property agents and brokers from all major areas and associations of the city also participated in the protest.<\/p>\n
Looking at how peacefully this rally was organized and how media also depicted it as a peaceful protest rather than a nuisance for civilians, the participating agents deserve appreciation. In addition to holding an effective demonstration, these agents also had a clear set of demands, which represented their collective interests and were also valid on legal grounds.<\/p>\n
These agents in Karachi, just like property brokers from all other cities of Pakistan, have reservations against the new tax system. However, unlike the rest, they believe that the tax applicable on properties offered on instalments should be collected only on the amount paid by the buyer up to that period of time and not on the property\u2019s total price.<\/p>\n
In addition to that, the protestors also demanded that FBR valuation tables for housing societies located in the rural areas should be set according to their respective neighbourhood and not according to any other criteria. Furthermore, these agents have also alleged that the new tax regime has been imposed to channel investment to Dubai and it is being done intentionally.<\/p>\n
To better understand what these agents are planning to do if the government does not keep their promise of fixing the tumultuous situation in the real estate sector, I spoke with Bahria Dealers Association Karachi Chairman Raheel Haroon. Haroon exclaimed that if required, the agents hold the right to challenge the new rules the FBR has set in court.<\/p>\n
He also stressed that collecting tax revenue from property transactions in a province should be the role of the provincial government as it is one of the main sources of revenue the provincial government can utilize to inaugurate development projects within the area. Haroon also highlighted the fact that the new tax legislations are yet to be approved by the Senate and the National Assembly, thus the FBR has no right to harass property dealers yet.<\/p>\n
Commenting on the future plans of the association, Haroon said that his particular association which is being joined by property agents from all over Karachi and is effectively connected with similar bodies in all major cities of Pakistan, will have a meeting with Chief Minister Sindh to voice their demands. The association can also stage sit-ins for an indefinite period of time.<\/p>\n
Here are some images taken from the rally:<\/p>\n
![\"1\"](\"http:\/\/www.zameen.com\/blog\/wp-content\/uploads\/2016\/10\/1.jpg\")
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![\"IMG-20161029-WA0040\"](\"http:\/\/www.zameen.com\/blog\/wp-content\/uploads\/2016\/10\/IMG-20161029-WA0040.jpg\")
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![\"IMG-20161031-WA0039\"](\"http:\/\/www.zameen.com\/blog\/wp-content\/uploads\/2016\/10\/IMG-20161031-WA0039.jpg\")
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![\"IMG-20161031-WA0040\"](\"http:\/\/www.zameen.com\/blog\/wp-content\/uploads\/2016\/10\/IMG-20161031-WA0040.jpg\")
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![\"IMG-20161031-WA0043\"](\"http:\/\/www.zameen.com\/blog\/wp-content\/uploads\/2016\/10\/IMG-20161031-WA0043.jpg\")
<\/p>\n","protected":false},"excerpt":{"rendered":"
Over 2000 real estate agents in Karachi staged a protest on Saturday, October 29, 2016 over the implementation of the new tax regime. These agents reached Karachi Press Club in the form of different rallies and held a press conference there, voicing their demands. Although a majority of these agents were registered dealers of Bahria Town Karachi, property agents and brokers from all major areas and associations of the city also participated in the protest. Looking at how peacefully this rally was organized and how media also depicted it as a peaceful protest rather than a nuisance for civilians, the participating agents deserve appreciation. In addition to holding an effective demonstration, these agents also had a clear set of demands, which represented their collective interests and were also valid on legal grounds. These agents in Karachi, just like property brokers from all other cities of Pakistan, have reservations against the new tax system. However, unlike the rest, they believe that the tax applicable on properties offered on instalments should be collected only on the amount paid by the buyer up to that period of time and not on the property\u2019s total price. In addition to that, the protestors also demanded…<\/p>\n","protected":false},"author":18,"featured_media":23473,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[3537],"persona":[],"class_list":{"0":"post-23472","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"tag-details-on-property-protest-held-in-karachi"},"acf":[],"yoast_head":"\n