{"id":68314,"date":"2020-07-22T13:12:46","date_gmt":"2020-07-22T08:12:46","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=68314"},"modified":"2020-07-22T13:12:48","modified_gmt":"2020-07-22T08:12:48","slug":"dc-rate-properties-increased-rawalpindi","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/dc-rate-properties-increased-rawalpindi.html","title":{"rendered":"DC rate of properties increased in Rawalpindi"},"content":{"rendered":"\n<p>Rawalpindi: City Deputy Commissioner Capt (r) Anwaar ul Haq has issued his approval for increasing the Deputy Collector\u2019s (DC) rate of immovable property applicable in all parts of the district, according to a news report published on July 21. The official rate of property in these zones \u2013 notified for the purpose of tax collection \u2013 has been increased evenly by 10%.<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/dc-rate-of-properties-increased-in-punjab.html\" target=\"_blank\" rel=\"noreferrer noopener\">DC rate of properties increased in Punjab<\/a><\/p>\n\n\n\n<p>The rise also accounts for a proportional upsurge in expenses required to register commercial and residential properties, as well as cost of the stamp papers required to register these property deeds. The new DC rates are to be applicable right away. At the same time, the DC rates in other districts of Punjab has also been increase. It is pertinent to mention here that the Punjab government, in Budget 2020-21 unveiling speech, had announced to <a href=\"https:\/\/www.zameen.com\/news\/punjab-postpones-application-of-valualion-tables.html\" target=\"_blank\" rel=\"noreferrer noopener\">postpone application<\/a> of properties valuation tables during the ongoing fiscal year.<\/p>\n\n\n\n<p><strong>Read: <\/strong><a rel=\"noreferrer noopener\" href=\"https:\/\/www.zameen.com\/news\/registration-deadline-developer-avail-construction-industry-amnesty-scheme.html\" target=\"_blank\">Registration deadline set for developers looking to avail construction industry amnesty scheme<\/a><\/p>\n\n\n\n<p>Responding to this rise, several stakeholders and members of the real estate associations have started to raise concerns that the rise in DC rates undermines the effectiveness of the Prime Minister (PM) Imran Khan\u2019s recently announced relief package \u2013 which is aimed at reviving activity in the construction industry. Moreover, the federal government and the Government of Punjab have also announced several tax-relaxations for the real estate industry in the Budget 2020-21.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/punjab-budget-2020-21-reduction-in-stamp-duty.html\" target=\"_blank\" rel=\"noreferrer noopener\">Punjab Budget 2020-21: Reduction in stamp duty, tax exemption for builders proposed<\/a><\/p>\n\n\n\n<p>In this regard, the Real Estate Consultants Association (RECA) appealed to the prime minister and Punjab Chief Minister (CM) Sardar Usman Buzdar to arrange a meeting with the association\u2019s delegation in order to remove the anomalies in properties\u2019 market price against the notified DC rate.<\/p>\n\n\n\n<p><strong>Read:<\/strong><a href=\"https:\/\/www.zameen.com\/news\/reca-suggestion-reviving-real-estate-sector.html\" target=\"_blank\" rel=\"noreferrer noopener\">RECA-DHA I-R shares suggestion on helping govt revive real estate sector<\/a><\/p>\n\n\n\n<p>Reportedly, some sources further claim that the property owners in Rawalpindi, who had purchased stamp papers at old rate, are now required to attach the \u2018new stamp papers\u2019 along with their applications, regarding sale and purchase of property.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rawalpindi: City Deputy Commissioner Capt (r) Anwaar ul Haq has issued his approval for increasing the Deputy Collector\u2019s (DC) rate of immovable property applicable in all parts of the district, according to a news report published on July 21. The official rate of property in these zones \u2013 notified for the purpose of tax collection \u2013 has been increased evenly by 10%. Read: DC rate of properties increased in Punjab The rise also accounts for a proportional upsurge in expenses required to register commercial and residential properties, as well as cost of the stamp papers required to register these property deeds. The new DC rates are to be applicable right away. At the same time, the DC rates in other districts of Punjab has also been increase. It is pertinent to mention here that the Punjab government, in Budget 2020-21 unveiling speech, had announced to postpone application of properties valuation tables during the ongoing fiscal year. Read: Registration deadline set for developers looking to avail construction industry amnesty scheme Responding to this rise, several stakeholders and members of the real estate associations have started to raise concerns that the rise in DC rates undermines the effectiveness of the Prime Minister&hellip;<\/p>\n","protected":false},"author":18,"featured_media":66139,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015],"tags":[35279,35280,35281],"persona":[],"class_list":{"0":"post-68314","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-legal-taxation","8":"tag-dc-rate-of-properties-increased-in-rawalpindi","9":"tag-rawalpindi-dc-rates-2020","10":"tag-stamp-duty-2020","11":"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>DC rate of properties increased in Rawalpindi Zameen News<\/title>\n<meta name=\"description\" content=\"The rise also accounts for a proportional upsurge in expenses required to register commercial and residential properties, as well as cost of the stamp...\" \/>\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\/dc-rate-properties-increased-rawalpindi.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DC rate of properties increased in Rawalpindi Zameen News\" \/>\n<meta property=\"og:description\" content=\"The rise also accounts for a proportional upsurge in expenses required to register commercial and residential properties, as well as cost of the stamp...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/dc-rate-properties-increased-rawalpindi.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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