{"id":62652,"date":"2020-03-13T13:42:58","date_gmt":"2020-03-13T08:42:58","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=62652"},"modified":"2020-03-13T13:43:27","modified_gmt":"2020-03-13T08:43:27","slug":"na-body-urged-to-resolve-unrealistic-property-valuations","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/na-body-urged-to-resolve-unrealistic-property-valuations.html","title":{"rendered":"NA body urged to resolve issue of unrealistic property valuations in Karachi"},"content":{"rendered":"\n<p>Islamabad: Pakistan Real Estate Investment Forum (<a href=\"https:\/\/www.zameen.com\/news\/form-a-committee-of-stakeholders-for-affordable-housing-preif-chief.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"PREIF) (opens in a new tab)\">PREIF)<\/a> President Shaban Elahi informed the National Assembly (NA)\u2019s Standing Committee on Finance, Revenue and Economic Affairs that the Federal Board of Revenue (FBR) needs to focus on problems arising in Karachi among other cities owing to the unrealistic property valuations for different areas, according to news sources.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/fbr-monitor-real-estate-jewellery-transactions.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"FBR to monitor real estate, jewellery transactions to curb terror financing under FATF regulations (opens in a new tab)\">FBR to monitor real estate, jewellery transactions to curb terror financing under FATF regulations<\/a><\/p>\n\n\n\n<p>He\nhighlighted this issue while attending the committee meeting held on Thursday, under chairmanship on\nMember National Assembly (MNA) Faiz Ullah. While addressing the meeting he\nfurther suggested that certain laws could be enforced to protect the end\nconsumers from the builders.<\/p>\n\n\n\n<p>The PREIF president also revealed that builders and developers are selling plots\/flats over the limit of their approved building layout plans. He asked for strict action to be taken to curb this practice. <\/p>\n\n\n\n<p> <strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/fbr-communicates-new-valuation-rates-for-immovable-properties-in-20-cities.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"FBR communicates new valuation rates for immovable properties in 20 cities (opens in a new tab)\">FBR communicates new valuation rates for immovable properties in 20 cities<\/a><\/p>\n\n\n\n<p>Inland Revenue (IR) Policy Member\nDr Hameed\nAteeq responded to the issue of valuations by stating that different committees\nhave been constituted at commissioner levels, in 21 cities, to resolve the issue.<\/p>\n\n\n\n<p>The\nmeeting was attended by the top officials from Ministry\nof Finance, Revenue and Economic Affairs, FBR, Lahore Development Authority (LDA),\nCapital Development Authority (CDA), and Faisalabad Development Authority (FDA)\namong many members of the NA. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: Pakistan Real Estate Investment Forum (PREIF) President Shaban Elahi informed the National Assembly (NA)\u2019s Standing Committee on Finance, Revenue and Economic Affairs that the Federal Board of Revenue (FBR) needs to focus on problems arising in Karachi among other cities owing to the unrealistic property valuations for different areas, according to news sources. Read: FBR to monitor real estate, jewellery transactions to curb terror financing under FATF regulations He highlighted this issue while attending the committee meeting held on Thursday, under chairmanship on Member National Assembly (MNA) Faiz Ullah. While addressing the meeting he further suggested that certain laws could be enforced to protect the end consumers from the builders. The PREIF president also revealed that builders and developers are selling plots\/flats over the limit of their approved building layout plans. He asked for strict action to be taken to curb this practice. Read: FBR communicates new valuation rates for immovable properties in 20 cities Inland Revenue (IR) Policy Member Dr Hameed Ateeq responded to the issue of valuations by stating that different committees have been constituted at commissioner levels, in 21 cities, to resolve the issue. The meeting was attended by the top officials from Ministry of Finance,&hellip;<\/p>\n","protected":false},"author":75,"featured_media":60701,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015],"tags":[22782,22779,22780,3294,22781],"persona":[],"class_list":{"0":"post-62652","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-legal-taxation","8":"tag-inland-revenue-ir-policy","9":"tag-na-body-urged-to-resolve-issue-of-unrealistic-property-valuations","10":"tag-preif","11":"tag-property-valuation","12":"tag-unrealistic-property-valuations","13":"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>NA body urged to resolve unrealistic property valuations - Zameen News<\/title>\n<meta name=\"description\" content=\"FBR needs to focus on problems arising in Karachi among other cities owing to the unrealistic property valuations for different areas, according to news.\" \/>\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\/na-body-urged-to-resolve-unrealistic-property-valuations.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NA body urged to resolve unrealistic property valuations - Zameen News\" \/>\n<meta property=\"og:description\" content=\"FBR needs to focus on problems arising in Karachi among other cities owing to the unrealistic property valuations for different areas, according to news.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/na-body-urged-to-resolve-unrealistic-property-valuations.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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