Lahore Real Estate Forum

Sunday, August 9, 2026 09:00 AM
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(75428)
Tuesday, August 2, 2016 05:55 PM PST 

Is there any amnesty scheme.
What is meant by "declaring the property"?
Does this mean declaring the property at the time of registering with FBR to get a new NTN No. ?

ShahzadQamar® replied on Tuesday, August 2, 2016 11:29 PM PST 

no amnesty. Declaring means you have to declare in tax return...applicable for filers
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(75427)
Tuesday, August 2, 2016 05:23 PM PST 

WHAT IS THE PRCIE OF PLOT DHA PHASE 7 z BLOCK 52.

Thanks
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(75426)
Tuesday, August 2, 2016 05:01 PM PST 
Bahria EMC

Can someone please do the evaluation of Bahria EMC plots:B885 & B900. Regards
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(75425)
Tuesday, August 2, 2016 04:41 PM PST 

WHAT IS THE PRCIE OF PLOT WAPDA TOWN PHASE 1 BLOCK K-2 239.
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(75424)
Tuesday, August 2, 2016 04:01 PM PST 
Tax

Are properties below 40 lac fbr price only exempted from witholding tax or capital gain tax too?

ShahzadQamar® replied on Tuesday, August 2, 2016 04:15 PM PST 

Upto 40 both taxes excempted.

fbr notice replied on Tuesday, August 2, 2016 04:27 PM PST 

it means that the transaction will not in the notice of fbr; no chance of any notice from fbr: is it correct? please throw some light on this issue.

phase 9 replied on Tuesday, August 2, 2016 04:39 PM PST 

It means phase 9 exempted? ShahzadQamar sb.

Overseas Pakistani replied on Tuesday, August 2, 2016 05:58 PM PST 

Dear Analysts, thanks for always keeping the general public up to date on property issues. I see that everyone is Talking about taxes as dealers are worry about their businesses, investors are worried about their investment. My question is there anyone who is looking after the ordinary overseas Pakistanis interests.Every overseas Pakistani is not multi millionaire, most of them are hard working Pakistanis. The take a long time to collect money and bye a file or plot to build a house. Is there any incentive or facility provided to this hard working class in the new policies or budget of the government or they are again given the old lollipop that they are ambassadors of Pakistan overseas.

HassanHC® replied on Tuesday, August 2, 2016 06:40 PM PST 

Yes under 40 lacs no concern of FBR.

phase 9 replied on Tuesday, August 2, 2016 07:08 PM PST 

HassanHC does this mean phase 9 will catch momentum

AHMAD HASSAN® replied on Tuesday, August 2, 2016 07:14 PM PST 

Phase 9 already got momentum. ماشاءاللہ

phase 9 replied on Tuesday, August 2, 2016 07:20 PM PST 

AHMAD HASSAN thanks for reply

ShahzadQamar® replied on Tuesday, August 2, 2016 11:18 PM PST 

5 and 10 marla will be excempted but 1 kanal will be subject to tax as fair value is 45 for 1 kanal as per FBR
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(75423)
Tuesday, August 2, 2016 03:39 PM PST 
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(75422)
Tuesday, August 2, 2016 02:54 PM PST 
Ignored points in negotiations by ABAD

I have compared old and new tax rates for seller/purchaser!

I would request respected CMY, Jameel Mughal, Habib sb, Ahmat and other experts to compare the current and previous rate.

In my opinion, ABAD has just focused on CGT and ignored other taxes like WHT and advance tax for seller and all other taxes for purchaser (They also got per sq feet tax on constructed homes :p ) This is because only big fishes are present in ABAD. This is what dealers and small/medium investors like me need to understand and protest against. More tax whether it is on seller or purchaser will reduce the number of transactions in all societies and prices would halt.

Arslan replied on Tuesday, August 2, 2016 09:51 PM PST 

very handy, good work...i was trying to build this table since new rules announced.

Overseas Pakistani replied on Tuesday, August 2, 2016 10:56 PM PST 

In that way..taxes now are really high and much more than last year...these are valid points that if now most of the taxes will be collected on fair market value also with much increased %age then the previous year in which less % of tax was applied on DC rates
Now tax %age increased as well as assessment value of the property also increased, I don't know how real Estate representatives accept this proposal in the meeting or these representatives did not have done there homework before meeting or they were incompetent ...

You are right Mr.Abdullah,it should be highly protested by the dealers...

AHMAD HASSAN® replied on Tuesday, August 2, 2016 11:32 PM PST 

One month before, no one was talking about taxes in market as well as on this forum. In fact responsibility of an estate agent is till transfer of land that includes to guide one on CVT, Stamp duty, WHT etc. They ve nothing to do with CGT or any other tax after that. That is purely responsibility of seller to pay after selling by the end of fascial year on actual profit or one can ignore it as usual. But FBR value canot be linked with CGT and to conclude that one is not liable to pay tax in same year if FBR value is not changes. This understanding or perception is wrong. Whenever funds will be credited to ones bank account, FBR will ask source and enforce taxes. Much better consult with a lawyer or legal adviser to handle this smoothly and don't put this responsibility on dealers shoulders. But we begin to live till we r fit to die. I don't know
prices will go up or down, but transaction should start and will go normally based on supply & demand mechanism . ضرورت کی چیز کبھی مہنگی نہیں لگتی
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(75421)
Tuesday, August 2, 2016 02:38 PM PST 
Simple Tax

in summary, considering that FBR will increase DC rates to say 250% & hold period above 1 and less than 2 years, the CGT of filer will increase from 5% in past to 14% in current (75% x fair market which is 2.5 times of DC ratex7.5% = 14%) so net effect is 9% on old calculations based on purely DC rates. For filer advance tax shall be adjustable so still finally the net effect will remain 9% as above + some effect of WHT.
For a non-filer (considering he manages not to become filer somehow), he will not pay CGT but he will have to pay advance tax and that will not be adjustable as he will not file return. Advance tax will increase from 2% to 7.5% in current calculations (75% x fair market which is 2.5 times of DC ratex 4% = 7.5%) so net increase for non-filer will be 5.5% only. Non-Filer seller will be winner in this case (if he manages to remain as non-filer)

Kureshi® replied on Tuesday, August 2, 2016 03:13 PM PST 

Shahzad , thank you for sharing the calculations.

Looking at such discussions and calculations , a weak hearted investor will say good bye to property investments.

Most of rhe people in this business are not finance and tax experts and I wonder when will they feel comfortable to get back to business as usual.

ShahzadQamar® replied on Tuesday, August 2, 2016 03:43 PM PST 

In case of Phase-9 considering above data (if buy now sell next year after 1st July but before 30 june 2018), the NET INCREASE for Filer tax will be ~ 280,000 and for non-filer tax increase will be ~ 180,000 over and above last year taxes. I think in Prism where rates go up sometimes more than 1 lakh per day, such tax increase will not have any major impact and Market will further gain from now onwards.

User_6006® replied on Tuesday, August 2, 2016 05:19 PM PST 

houses in dha a kanal going to be 7 crore , and wapda town 5-6 crore . fbr related person said consider fbr evaluation more than dc and market value, minimum 1-2 crore for kanal , 50-100 for 10 marla 25-50 for 5 marla from market , how buyer and dealer will cop with it ?

User_6006® replied on Tuesday, August 2, 2016 05:19 PM PST 

houses in dha a kanal going to be 7 crore , and wapda town 5-6 crore . fbr related person said consider fbr evaluation more than dc and market value, minimum 1-2 crore for kanal , 50-100 for 10 marla 25-50 for 5 marla from market.
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(75419)
Tuesday, August 2, 2016 02:17 PM PST 
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(75415)
Tuesday, August 2, 2016 01:16 PM PST 
evaluation

please will you evaluate prism 1020 p secter one canal plot thanks zia rehman
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(75413)
Tuesday, August 2, 2016 01:11 PM PST 

Whether FBR has notified Lahore DHA fair market rates?
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(75411)
Tuesday, August 2, 2016 07:05 AM PST 
Evaluation

Dear LRE Team,

Please evaluate my Plot in DHA Rahber Phase 2, 5 Marla Plot on 100 Feet Main Boulevard Road near 326

thanks

Lahore Real Estate replied on Wednesday, August 3, 2016 01:28 PM PST 

Dear Sir,

Kindly mention the block for evaluation, wouldn't be able to evaluate without the block.



Lahore Real Estate
Email:INFO@LREPK.COM
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(75409)
Tuesday, August 2, 2016 05:40 AM PST 
Now it is official

Now it is official

MIT® replied on Tuesday, August 2, 2016 06:07 AM PST 

Thanks CMY. Accommodating Shuhda's properties by CGT exemption is understandable and right thing to do, but there is no justification to add 'others' like Govt. employees etc., in the row for 50% discount. What is wrong then with oversees Pakistanis who are one of main pillars of economy by foreign remittance; they're not even considered of any allowance at all. Most of them for very just reasons are non-filers and have to bear the "burden" of those 'exemptions' awarded to the government officials who in fact make the law and rule the people to their own advantage. Unless such divisions are stopped, there cannot be real peace and prosperity

CMY replied on Tuesday, August 2, 2016 06:35 AM PST 

Overseas Pakistanis dont help you in winning fraud elections and assist you in hiding all financial crimes . Do they?

Irfan replied on Tuesday, August 2, 2016 10:27 AM PST 

1) How many overseas Pakistanis fight for "with holding tax" on bank transactions? And according to law their money is tax-free? So govt is breaking the law.

2) Whichever matter FBR involved implies that is "gone".

meer replied on Tuesday, August 2, 2016 12:18 PM PST 

I may be wrong but according to my knowledge govt employee having discount on the peopeeties whixh were aloted by the govt not on the properties that they have purchsed with their own resourses.

Overseas Pakistani replied on Tuesday, August 2, 2016 05:54 PM PST 

Dear CMY sahib, thanks for always keeping the general public up to date on property issues. I see that everyone is Talking about taxes as dealers are worry about their businesses, investors are worried about their investment. My question is there anyone who is looking after the ordinary overseas Pakistanis interests.Every overseas Pakistani is not multi millionaire, most of them are hard working Pakistanis. The take a long time to collect money and bye a file or plot to build a house. Is there any incentive or facility provided to this hard working class in the new policies or budget of the government or they are again given the old lollipop that they are ambassadors of Pakistan overseas.
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