Good News for the Real Estate Business.

  • 3 months ago
  • 1
LDA City Lahore Jinnah sector

Real Estate Business News:

Good news for the real estate business.

  1. The advance tax and holding tax (236C) imposed by the federal government in which they had made the holding period Unlimited, has requested to maintain the holding period at 6/5 years in which they immediately The limit is guaranteed to be maintained for 6/5 years, the notification of which will be issued today or immediately after Eid.
  2. Overseas Pakistanis are assured to be considered filers in case of sale and purchase of property and to provide special incentives and facilities in economic and financial policy.
  3. Vacant plots are taxed at a total value above Rs 25 million. There will be no tax on non-position plots and in the case of positioned plots, no tax will be levied if construction is started within this financial year. Similarly, a proposal to allow vacant plots for a specified period is also under consideration. The Senate has been informed of the concerns of its real estate community regarding special tax concessions to revive the real estate business and proposals are under consideration.
  4. Negotiations regarding the Real Estate Regulatory Authority will begin after Eid.

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