{"id":66627,"date":"2020-06-14T10:28:00","date_gmt":"2020-06-14T05:28:00","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=66627"},"modified":"2020-06-12T18:29:43","modified_gmt":"2020-06-12T13:29:43","slug":"covid-19-lockdown-revenue-collection-property-transfers-lahore-plunges","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/covid-19-lockdown-revenue-collection-property-transfers-lahore-plunges.html","title":{"rendered":"COVID-19 lockdown: Revenue collection via property transfers in Lahore plunges"},"content":{"rendered":"\n<p>Lahore: The city revenue department lost more than PKR 3 billion in collections for property transfers during the ongoing lockdown implemented to contain the coronavirus pandemic \u2014 according to a news source. These losses were due to the closure of all the property registration branches in the city (nine in total) during the lockdown period.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/budget-2020-21-revenue-collection-target-set-pkr-4-95-tr-expenditures-remain-frozen.html\" target=\"_blank\" rel=\"noreferrer noopener\">Budget 2020-21: Revenue collection target set for PKR 4.95 tr; expenditures to remain frozen<\/a><\/p>\n\n\n\n<p>Now that these registration branches have been reopened, the approximate losses have been estimated to be upwards of PKR 3 billion. Revenue department collections generally include registry fees, stamp paper fees, income tax, and various other taxes that weren\u2019t collected from the end of March to the end of May.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/fbr-requests-partial-exemption-from-lockdown-to-maximize-revenue-collection.html\" target=\"_blank\" rel=\"noreferrer noopener\">FBR requests partial exemption from lockdown to maximize revenue collection<\/a><\/p>\n\n\n\n<p>Reportedly, the revenue department faced its largest loss in its Gulberg registry branch \u2014 with estimated losses worth PKR 1.73 billion. In addition, PKR 682 million losses were recorded for the Nishtar Town branch; PKR 471 million for Iqbal Town; PKR 281 million for Aziz Bhatti Town; PKR 139 million for Data Ganj Bakhsh Town; PKR 233 million for the Ravi Town registry; PKR 166 million for Samnabad; PKR 46.7 million for Shalimar Town; and PKR 324 million for Wagah Town.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lahore: The city revenue department lost more than PKR 3 billion in collections for property transfers during the ongoing lockdown implemented to contain the coronavirus pandemic \u2014 according to a news source. These losses were due to the closure of all the property registration branches in the city (nine in total) during the lockdown period. Read: Budget 2020-21: Revenue collection target set for PKR 4.95 tr; expenditures to remain frozen Now that these registration branches have been reopened, the approximate losses have been estimated to be upwards of PKR 3 billion. Revenue department collections generally include registry fees, stamp paper fees, income tax, and various other taxes that weren\u2019t collected from the end of March to the end of May. Read: FBR requests partial exemption from lockdown to maximize revenue collection Reportedly, the revenue department faced its largest loss in its Gulberg registry branch \u2014 with estimated losses worth PKR 1.73 billion. In addition, PKR 682 million losses were recorded for the Nishtar Town branch; PKR 471 million for Iqbal Town; PKR 281 million for Aziz Bhatti Town; PKR 139 million for Data Ganj Bakhsh Town; PKR 233 million for the Ravi Town registry; PKR 166 million for Samnabad; PKR&hellip;<\/p>\n","protected":false},"author":57,"featured_media":60282,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015],"tags":[31711],"persona":[],"class_list":{"0":"post-66627","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-legal-taxation","8":"tag-covid-19-lockdown-revenue-collection-via-property-transfers-in-lahore-plunges","9":"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>COVID-19 lockdown: Revenue collection via property transfers in Lahore plunges - Zameen News<\/title>\n<meta name=\"description\" content=\"Lahore: The city revenue department lost more than PKR 3 billion in collections for property transfers during the ongoing lockdown implemented to contain the coronavirus pandemic \u2014 according to a news source.\" \/>\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\/covid-19-lockdown-revenue-collection-property-transfers-lahore-plunges.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"COVID-19 lockdown: Revenue collection via property transfers in Lahore plunges - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Lahore: The city revenue department lost more than PKR 3 billion in collections for property transfers during the ongoing lockdown implemented to contain the coronavirus pandemic \u2014 according to a news source.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/covid-19-lockdown-revenue-collection-property-transfers-lahore-plunges.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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