Lahore Real Estate Forum: Property News & Community Talk : Discussion Property News & Community Talk

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(75168)

Shahzad Feroze

Saturday, July 23, 2016 11:33 PM PST

Reply:

I have two 5 marla plots in eden garden extensions all dues have been cleared in lump sum but they are not giving possession. Some say they have land issues. please shed some light on it if some one has knowledge about it. I live in Saudi Arabia and know nothing about any thing. Thank you.

M Arshad Ali� replied on Sunday, July 24, 2016 01:27 PM PST

They settled the matter with NAB 6 months ago, that first Eden will give plot possession of Eden land and then Eden Garden Ext.,development is going on in Eden land but still no development in Eden Garden.They have enough land for both projects and for LRR passing through from it.But I think Eden land possession is expected in 2017 end while Eden Garden Ext, may take 3_4 years to develop

LOYAL PAKISTANI replied on Sunday, July 24, 2016 04:07 PM PST

U suggest don't carry decisions on the basis of rumours or some past mistakes like 25 years back.

Increment in Pakistan is always lucrative.

Thank you.

Sadaqat replied on Sunday, July 24, 2016 07:51 PM PST

How could you afford buying two plots knowing nothing about Eden lands.

FAA.awan replied on Monday, July 25, 2016 06:58 AM PST

Dear shahzad feroze,Eden garden ext and its other projects are big fraud and robbery in daylight.It is badly failed project.As I have my personal experience with this project.I bought a plot on instalments on Rs.8 lac in 2011 and sold after long struggle luckily at only 4 lac 50% minus.I saw innocent people were crying with tears in Eden's head office,but they got disappointment only.Nobody is ready to provide them the exact info.If you can stay more time and have holding power,then see how the cat jumps.Best of luck.

(75167)

Rana_Australia�

Saturday, July 23, 2016 10:14 PM PST

Reply:

Property Advise

Dear Friends ,
I have one plot in Phase 7 which I am selling . The other one in Prism ( facing Golf which I will sell later ).
My Phase 7 plot is being sold at 160 ( plus minus ). Should I reinvest in lahore which is risky because of Ishaq Dar or should I purchase on flat in Sydney CBD ( say 700000 AUD ) . I give 25 % upfront and mortgage rest ? I give the apartment on rent

Please suggest ???

Best Regards
Rana

New replied on Sunday, July 24, 2016 03:19 AM PST

I think its safe to buy in australia till the dust settles.

MIT� replied on Sunday, July 24, 2016 04:27 AM PST

@Rana: If you run yr math to calculate it is not worth investing in Australian Flat of AUD 700000 by 25% down payment i.e AUD 175000 plus cost/lending fees of the mortgage etc minimum 5% of the price AUD 25250
comes to 201250 x @ 78.00 AUD/PKR is 15697500, and if you are estimating PKR15500000 sales proceeds with tax deductions it will be further reduced. Even going through this hassle, you still owe 75% mortgage on the Flat, therefore in my opinion with all the risks of ifs & buts still investing in Pakistan Real Estate is much better.

User_6006� replied on Sunday, July 24, 2016 04:40 AM PST

if your PM not trusted this country how can you , take both plot money in Australia , get a commercial there and rent out

jehanzeb replied on Sunday, July 24, 2016 12:30 PM PST

tedt

Flex01� replied on Sunday, July 24, 2016 02:02 PM PST

In Australia, u will get the benefit of leverage i.e by paying AUD 175 k, u will own property of 700,000/-

Though u will incur interest expense, but however u will be having equity in each year, by paying part of EMI towards principal repayment. ( i have not accounted for any capital gains in this)

However, as mentioned by Jameel Mughal, Pakistan property has its own capital gains charm.

If i were you, i will diversify to hold at least one property in AUD, if i do not have any RE in Australia.

Jameel Sb:

Pls comment on leveraging and buying a property In Dubai via bank financing. is it worth it in current scenario with low Dubai RE prices? Thanks ( Asking this as nowadays i am confused whether to invest AED 300,000 in Pak RE or In Dubai. Thanks

User_19995� replied on Sunday, July 24, 2016 03:44 PM PST

I would say it all depends on your plans in near future.

If you dont want to come to pak any time soon and want to settle completely in aus then take it invest there in time to get max gains.

So but if have setting that you and your family regularly coming to pak or in future you plan to send your kids to pak for any reason than you must be having some sort of house or setting in pak as well.

I know people who are settle in UK 197 and having more property in PAk and still purchasing even their kids hardly visited pak in 30 or 40 years s its all about ur priorities and falimy setting

Nabeel� replied on Sunday, July 24, 2016 08:29 PM PST

Some factors:

If you don't already have a property in AUS, it might be a good idea to diversify country risk and invest in AUS if you already have a property in PK. This is especially if you already have permanent residence rights to stay in AUS, unlike us poor folks in the Middle East.

Secondly, due to high levels of immigration, and concentration of jobs in Sydney CBD, rental properties in Sydney CBD should always be in demand in future.

Thirdly, Pakistan property has performed really well over the last couple of years, but at same time it has also been in the doldrums for a certain period. That being said, asset appreciation on property over long term is usually high.

Fourth, for those able to get mortgages its not too bad to let the tenants build your equity for you, but its a more longer term gain and you will not gain much on asset appreciation like Jameel Sb. pointed out.

Jameel Mughal� replied on Monday, July 25, 2016 05:11 AM PST

M Zahid, i agree with you that there are Cycles of activity and in between there is No Growth, that is why I spoke of average 15% Growth
If You take into account the data given above last 5 figures are quarters and average them up and then Make Cumulative Averge you may be astonished to see that Pakistan is Giving Much More returns, If You take into account Currency devaluation in Last 8 years Canadian Dollars Lost almost same value as that of Pak Rupee same is the case with Australian Dollar.
US is Last 9 ys average is still negative No gain rather Loss , Canadian and Australian SO So if you take into account devaluation of their Currency other are far Below

I will welcome some experience of other overseas people lIke in UK France etc At least Abu Dhabi I gave example that prices are flat.

Coming to other Comment of Plums, Other items are equally expensive, 2 years Back i was Looking for Buying a Plot for relative in Mashallh housing Society [C Class area On GT Road after Daroghawala] @ 1.33 Lac per Merla, Due to Lack of His Interest we did Not go as 50% Funds he had to arrange. Now he asked again and Today I confirmed the price have gone to 4 lac per Merla ie 200% Gain in 2 years. This Much gain in Canada and Australia comes in 18 to 20 years

Rana 1 replied on Monday, July 25, 2016 06:36 AM PST

Salam to all,

I am agree with mr. Jameel Mughal.
I am living in Europe and i observed what MashaAllh Pakistan RE gave to people that no one country in whole Europe has given. Even in crises Pak RE rose.
My brother whole world is crying and trying to destroy orher economy, brexit is latest example.
My family bought 2 plots in EME in 2000 with 20 lac and MashAlh now is price for 2 is lac.
Now you see even was slump in 2004 in pak.

Brother, just invest in Pak and sleep freely. After few years Inshalh you will gain most than whole world.

Wasalam

(75166)

Ali

Saturday, July 23, 2016 08:53 PM PST

Reply:

LDA Avenue 1 plots

Dear LRE,

I am bit confused to understand that how an potential buyer can check whether the plots in LDA Avenue 1 is clear or under litigation?

I am planning to buy a 10 Marla plot in L Block in 1260 to 1269 series as the owner is not disclosing the plot number yet.

Please help.

Thanks.

Local Hunt replied on Saturday, July 23, 2016 11:31 PM PST

Most of the part of L block is in litigation.Best blocks to invest are F,J,M,H,D.These are litigation free.Ask owner to take Noc from lda office and secondly u can get details from lda one window.

Aftab replied on Sunday, July 24, 2016 11:51 PM PST

Ali sb, how much onwer of the plot is demanding for 10 marla plot in LDA Avenue 1?

(75165)

Kureshi�

Saturday, July 23, 2016 07:54 PM PST

Reply:

Once again , jang news spreading panic.

Surfer� replied on Saturday, July 23, 2016 08:28 PM PST

@ Kureshi bhai. The main mission statement of Jang group is Always spread panic to increase the sale. In case of Print as well as electronic media.
If some matter is never to be resolved they spread panic & seems to jump back to its starting point.

Usama Javed� replied on Saturday, July 23, 2016 08:29 PM PST

jang, Geo no credible source

H Ali replied on Saturday, July 23, 2016 11:11 PM PST

Thy have zero credibility. If you pay them well and ask them to insult their own families, they'll probably do that too. Extremely cheap and low level journalism.

MIT� replied on Sunday, July 24, 2016 12:57 AM PST

All of you guys have stated so correct. Shame on this dirty house of hypocrisy.

Nadeem replied on Sunday, July 24, 2016 02:07 AM PST

Don't trust Jang-Geo Group, They just need to make money in Pakisran to spread their empire and influence and rarely visit Pakistan.

4Muzzamil� replied on Sunday, July 24, 2016 03:13 AM PST

govt shud take current /market rates from LRE website , all are available here xD

FAA.awan replied on Sunday, July 24, 2016 04:11 AM PST

Jang and Geo are fake team and suppoters of Nawaz league .Geo urges Ishaq dar to impose property taxes.Everybody knows Geo group's character is doubtful.

MIT� replied on Sunday, July 24, 2016 12:37 PM PST

Agreed with Mr. Jameel, but who cares in Pakistn? An ex post facto law is a law that retroactively changes the legal consequences (or status) of any past matter and were already made unlawful by the Kellogg-Briand Pact, the Covenant of the League of Nations, and the various Hague Conventions. Retrospective criminal laws are prohibited by Article 7 of the European Convention legislation, though new precedent generally applies to events that occurred before the judicial decision. Ex post facto laws are expressly forbidden by the United States Constitution in Article 1, Section 9, Clause 3 (with respect to federal laws) and Article 1, Section 10 (with respect to state laws). In some nations that follow the Westminster system of government, such as the United Kingdom, ex post facto laws are technically possible, because the doctrine of parliamentary supremacy allows Parliament to pass any law it wishes. In a nation with an entrenched bill of rights or a written constitution, ex post facto legislation may be prohibited.
Article 12 of the constitution of Pakistan clearly prohibits any law to be given retroactive effect by stating:
12.1 - No law shall authorize the punishment of a person:-
12.1.a - for an act or omission that was not punishable by law at the time of the act or omission; or
12.1.b - for an offence by a penalty greater than, or of a kind different from, the penalty prescribed by law for that offence at the time the offence was committed.

CMY replied on Sunday, July 24, 2016 02:54 PM PST

FAA.awan Please send a text again to reserve name. Lost your numnber

Ali.bianco replied on Sunday, July 24, 2016 11:55 PM PST

Geo is biased channel for their own agenda... Not worth trusting..

Ali.bianco replied on Sunday, July 24, 2016 11:56 PM PST

Geo is useless channel for their own agenda... Not worthy

(75164)

ahmad khan

Saturday, July 23, 2016 06:30 PM PST

Reply:

whats the price of v 662 phase 8?

(75163)

Shahwaiz Tahir

Saturday, July 23, 2016 05:17 PM PST

Reply:

Plot Evaluation Prism R-1099

Dear LRE Team,

Hope this msg finds you well.

You are doing a great job as we are updated with every bit of information and news in the market by following you guys.

Thankyou for that.

It is requested to kindly evaluate the price of the following plot

Dha 9 Prism
Plot no. R-1099

And also let me know when is the good time to sell it and buy 10 marla in the same phase. I.e DHA prism 9 .

Thankyou
Best Regards

(75162)

foreign remittance

Saturday, July 23, 2016 06:33 AM PST

Reply:

E-remittance

if in the bank statements, the foreign remittance is indicated as E-remittance, is it acceptable to the fbr as foreign remittance. please guide in this reference. thanks

Headliner� replied on Saturday, July 23, 2016 01:10 PM PST

Go to the bank and get the remittance certificte

000Rizwan replied on Saturday, July 23, 2016 01:30 PM PST

Headliner kia process ha ye certificate lene ka or kitne din me mil jata ha?

Habib replied on Saturday, July 23, 2016 04:33 PM PST

Dear You need PRC [Remittance certificate]

Month ago Mr SA posted this on this site see carefully

I am amazed how ignorant people are about REMITTANCES and LEGAL WHITE MONEY IN PAKISTAN. I have lived in Saudi Arabia for 10 years and still visit on and off.

99% of people in Saudi don�t have a clue how to handle their money in PAKISTAN. ( legally )

Most of the people in Saudi send money to Pakistan to support their families though WU, Banks or any other channel. These people don�t need any remittance records as the money is spent on necessities.

But Investors who want to invest in Pakistan need to maintain proper Record in Pakistan for their REMITTANCE to be declared " WHITE MONEY "

let me give you few examples where your HARD EARNED HALAL money is considered black in PAKISTAN.

1. You are travelling to Pakistan and greed comes over you. You put 1 lac Riyals in your laptop Bag and bring the money to Pakistan, convert the money through money changers and buy a plot or put in your bank. ( People do this thinking that their money is HALAL so no one will question them ). PAKISTAN CONSIDERS THIS MONEY BLACK.

2. You transfer your money into your XYZ relatives account and you pay from his account.

3. You send Dollars to your USD account in PAKISTAN , Invite money changers in the bank, convert your cash in PKR and deposit back into your account. ( PAKISTAN CONSIDERS THIS BLACK MONEY )

these are just few examples which people do with their money. there are many more.

NOW LETS COME TO THE POINT , HOW CAN YOU DECLARE YOUR MONEY WHITE OFFICIALLY RECOGNIZED BY PAKISTAN AND FBR.

1. Open a bank Account in PKR in PAKISTAN. I USE UBL because SABB uses UBL as their remittance partner in PAKISTAN. YOU need to know which bank is in partnership with your Saudi Bank.

2. SIMPLY USE AL RAJHI to transfer your money or use your online SABB account to transfer money to UBL. If you are sending money through SABB to UBL account, the money will be deposited within 3 days with all the details of your transaction. If you use SABB to transfer money into any other bank, it will reach UBL KARACHI and then UBL KARACHI will issue a LOCAL PO which will be deposited into the bank which you have mentioned. ( NO record of remittance will be shown )

Note: Rajhi mostly uses HBL to process remittances.

3. When you receive money in PAKISTAN, You should have TT number or reference number with you, Along with scanned copy of Saudi bank voucher or money changer voucher. Go to your UBL branch and ask them to ISSUE " PRC" against your remittances. Your branch will make an application and you will sign it , they will scan it and send to the concerned department over email. After few days or even weeks with continuous follow ups eventually your PRC will arrive and you can collect it.

THIS PRC IS ONLY THING WHICH IS ACCEPTABLE and FBR ACKNOWLEDGES as FOREIGN REMITTANCES.

I have explained small details about UBL. procedure varies between different banks. BUT Keep in mind you need PRC certificate to legalize your money.

Lastly do not send money in USD in Pakistan. Because if you change USD to PKR from bank itself you will loose lots of money as their exchange rate is very poor ( they make lots of money by converting into PKR ) and the only way to get PRC from bank for USD is if you use banks services. if you withdraw USD and use local money changer , NO one will issue PRC and FBR or the GOVT. of PAKISTAN will not recognize your remittances as legal.

ALL this is for people who are investing in Pakistan. Money which is being used for necessities do not need to go through all this procedure.

ONE LAST THING

Overseas people who want to avoid paying 0.6% WHT on their bank transaction must file their income tax on yearly basis.( HIRE A LAWYER WHO WILL DO ALL THIS ON YOUR BEHALF FOR A VERY SMALL FEE of around 10-15 thousand ) As soon as you file your return you will be automatically updated as " FILER" STATUS and no WHT will be applicable on you when you buy a property, CAR, CASH withdrawals, BANK transfers etc. etc. All the money which you are sending to Pakistan is exempted income. There is no income tax on your foreign income which you are sending to Pakistan. All overseas will declare their income as foreign remittances and declare their assets. You will return a NILL income tax return with all your assets and money LEGAL.

I request all overseas to go through these procedures again and again as i myself have gone through all of this ( I learned it the hard way with no one to guide me) so i want other people to benefit. These are just simple steps with no extra money involved, just some paper work and all your money and assets will be legal.

I am willing to give answers to all of your questions which will help you legalize your money in Pakistan. Please forgive me if I am wrong some where. Whatever I have written is a personal experience and may vary from one individual to another.

User_19762� replied on Saturday, July 23, 2016 04:47 PM PST

Habib bhai thanks for detailed guidance, one question if person send money to his blood relatives like father bank account then what will be the status and from that transfered money, account of father is used for purchase of plot.

Rana 1 replied on Saturday, July 23, 2016 06:33 PM PST

Salam to all,

@Habib brother, I am living in EC and wanted to do some business in Saudia because of Holy Places to work and pray together there.
As you told you are living and often visiting Saudia, is there some possiblity to establish some your company and do a small import of fruits and vegetables to compensate the expenses.

Thanks and Regards,

Habib replied on Saturday, July 23, 2016 07:10 PM PST

Dear Rana I am in UAE, this article was Courtesy of Mr Sa Living in Saudi

Azee replied on Sunday, July 24, 2016 09:10 PM PST

Misery! few means rather legal means are available to transfer funds to our LOVING country sure, but very few or may be only one mean declare the transfer Legal or in general "WHITE", my question is "if money transferred 1. to bank but PRC not obtained 2. through western union 3. carried while traveling and exchanged there, will not be considered as foreign remittance or "WHITE" then why THESE MEANS ARE AVAILABLE AND WORKING??

Juman replied on Monday, July 25, 2016 03:24 AM PST

Mr. Habib
Anyone is legally allowed to carry $10,000 USD while traveling to Pakistan (inward money). What is the status of that money and how can that money be legalised or can be shown white because you are not bound to declare if cash is not more than USD$ 10,000/-

Mohammad akram replied on Monday, April 8, 2019 09:12 PM PST

Simple question
Send the money WU from europ to pakistan in my account
Are consider leagle money for purchase any assets
Thanx

(75161)

CMY

Saturday, July 23, 2016 06:08 AM PST

Reply:

*Prism DHA Lahore Phase 9 Development Update July 2016*

<<< Standing in Prism A Block While Taking Picture

*Prism DHA Lahore Phase 9 Development Update*

More Pictures Can Be Seen At Lahore Rral Estate Facebook Page Here

https://www.lahorerealesate.com/plots-for-sale/prism-dha-lahore-phase-9/

or here

https://www.facebook.com/permalink.php?story_fbid=&id=

Time to make long term investment again in Prism plots taking advantage of this current taxes confusion buying opportunity. Please dont look for short term. Prism is going to return you most in 3 year from even todays prices that have out performed all other Lahore housing projects in DHA Lahore and all Lahore property market.

To buy sell plots here or to get free assessment of your plot you are buying or selling anywhere or stay fully updated on daily bases on development prices trends please leave SMS or a free WhatsApp text message at + or + .

Choudry Mujahid Yasin ( CMY )
+

KSA Banker� replied on Saturday, July 23, 2016 04:25 PM PST

Dear CMY, hope you are recovering well from your back problem, further to your below post, can you kindly elaborate and explain the logic to support your recommendation that due to "this current tax confusion", there is opportunity to buy in Prism for long term, by what percent the prices in Prism have come down due to this tax confusion to warrant such assertion? My advance apologies for any difference of opinion with other respectable participants of this forum but in my humble opinion being a relatively small real estate investor, prices had just gone crazy over the last year with demands for canal plot approaching up to 15 million in prism which may be 10 years away from being live able. Frankly, from rental yield perspective, such prices did not make any sense and correction was due in any case even before tax issue which may be a contributing fact now. It may take a bit of time for market participants to first understand and then accept new market reality and conditions. So in my opinion, which differs from yours in this case, it is time to wait with liquidity in hand till the prices come down to more rational levels hopefully.

(75160)

Not Registered 8840

Saturday, July 23, 2016 05:16 AM PST

Reply:

current rate and trend of a proper allocation file of 10 marla in DHA

Just want to know the present trend and rate of a 10 marla proper allocation file in DHA Phase 5 Lahore.
Should I sell it right now?
Should I wait untill the balloting?
Any idea about balloting date?

Surfer� replied on Saturday, July 23, 2016 04:34 PM PST

Sell it & buy 1k in PRISM for 3 years hold fruitfull Investment. "In shaa ALLAH"

(75159)

Ahmed

Saturday, July 23, 2016 03:34 AM PST

Reply:

Please evaluate 2628 prism j block 5 M

CH SAEED replied on Saturday, July 23, 2016 01:47 PM PST

Dear Ahmed Sb,

Prism near J 2628 is around 31 lacs ( 2 paid )

CH SAEED
+923224333661
Lahore Real Estate
Email:INFO@LREPK.COM

(75158)

LondonBoys

Saturday, July 23, 2016 01:28 AM PST

Reply:

Price Evaluation

Dear LRE,

Kindly evaluate the below plots,

Plot 15/ Q block - 1 kanal - Phase 9 Prism
Plot 1720/ F block - 1 Kanal- 9 prism
plot 945 /R block -5 marla - 9 prism

Thanks.

CH SAEED replied on Saturday, July 23, 2016 01:48 PM PST

Dear Sir,

Market value near Q 15 is around 90 lacs ( 2 paid )

Market value near F 1720 is around 100 lacs ( 2 paid )

Market value near R 945 is around 40 lacs ( 2 paid )

CH SAEED
+923224333661
Lahore Real Estate
Email:INFO@LREPK.COM

(75157)

Waseem�

Friday, July 22, 2016 05:28 PM PST

Reply:

Safe Passage for Corrupt

The point is when you do fraud, do it in billions, so that you can buy any government official.

Abdal� replied on Friday, July 22, 2016 06:00 PM PST

Fully agreed. Amnesty at 4-5% with no past record checking when the applicable tax rate is around 35% would be discouraging honesty and law abidance in the society.

Real Estate is best replied on Friday, July 22, 2016 06:17 PM PST

kisi taraf tou khush ho jaya karo yaar tax laga tou rona daala ab agar mamlaat solve ho rahay hain tou phir rona ratta

AHMAD HASSAN� replied on Friday, July 22, 2016 06:20 PM PST

Both Stakeholders & FBR teams are working separately to propose new market values of 21 cities properties. Really very hard job if go for actual. A general understanding is that current DC rates will be increased 20% and rest will remain same. If this is correct then business will be restored as usual. A real picture will come after 27th July as FBR figures could be different and become point of conflicts. Apart from that we should really appreciate GOVT team as they didn't try to become showstopper yet, although they crashed business so far. Lesson learned for overseas Pakistanies is that don't let convert our white money to black money. Try to become filer and start to declare actual purchase & sell price because this relief is temporarily. In coming years new amendments will be in place.

Kureshi� replied on Friday, July 22, 2016 07:14 PM PST

very valid points,Habib.

Waseem sb, Not all money termed black is bad. for 90 % users its the bad system that turned their hard earned white money to black. Any body who has changed location of plot by flipping property in past 5 years ( i am sure thre are many on this forum) have become a victim of turning their white money to black due to less knowledge of filing property transactions in their tax returns and intehrently wrong system of recording transactions based on CVT and stamp duty on DC rates.

while it is a karwa ghoont but its a big step that govt and dealer association is taking to fix this big mess which no one has ever dared addressing.

Lets hope and pray that things get settled in an amicable way and end up being beneficial for the country and countrymen.

Newbie replied on Friday, July 22, 2016 07:45 PM PST

Question is for someone who is not a filer, lives abroad i.e. non resident.. if lets say he has purchased a property last year, then how government will collect tax from him ? since he is a non-filer so not declaring assets, will he have to pay this tax at the point of when he sell in future or will he get some kind of notice from FBR to his abroad address ?

Newbie replied on Friday, July 22, 2016 08:50 PM PST

Anyone ?

Asad-Ali replied on Friday, July 22, 2016 09:20 PM PST

@Newbie, you would be asked to pay Tax at the time when you sell this.

Newbie replied on Friday, July 22, 2016 09:35 PM PST

Thanks Asad-Ali. It is still confusing :

Does it mean, a filer have to declare the asset purchased in last 5 years and pay the tax immediately.

And the non-filer will only pay when he sell, and do not need to bother until he decide to sell.. And inface, if he sell after 5 years, then no tax.

Its difficult for me to believe that non-filer is at an advantage.
Pleaae explain ?

Asad-Ali replied on Friday, July 22, 2016 10:42 PM PST

no matter you are filer or non-filer, no need to pay TAX until you sell your plot. And if you are filer, you can declare its actual value you purchased and there is no new TAX on old transactions. Taxes apply only on future transactions

Newbie replied on Friday, July 22, 2016 10:55 PM PST

@Asad-Ali - thanks
But then what is the scope of amnesty that is being planned, and is it not for past transactions, where to avail amnesty u have to pay tax upfront within 2-3 months of amnesty period ???

Jameel Mughal� replied on Saturday, July 23, 2016 02:23 AM PST

@New bie these issues have Been discussed in previous post, all assets have to be declared no matter 100 ys old. FBR will only question sources of Funds in last 5 years prchases.
@ asad Ali don't Confuse gain Tax with this Filing
As 2015 law every one should File Income Tax though payable is zero, You have to declare all assets and to my understanding being overseas was no exemption. Now if some earns overseas and have 5 Cror Property in Pakistan and transferred all money by legal means should not worry, At this time there is no wealth Tax in Pakistan. So no matter you hold 100 Cror Property you are not Liable.
Property Tax is different entity and You are already paying. A different dep Called Excise and Taxation is responsible for that.
However all your money will be white once declared only catch is in Future if some new Tax Like "wealth Tax" is Imposed then you may have to pay.
This Law was widely not practiced in Pakistan and is still not being practiced. Even big politicians and businessmen and Govt officials [Corrupt or Not Corrupt] are not declaring personal assets.
The big question is should overseas take advantage of this point and declare assets or still wait. I personally will wait for Fair market price Law and discuss with some Tax expert at later stage.
N.B wealth Tax was in Practice in Pakistan till Late 1990s and after certain Bracket was 0.5 and then 1.0 Annually, later it was abolished by Last Nawaz Sherif Govt Before Musharraf. Wealth Tax is imposed on your net worth and not in practice in 90% Countries of the world. For reference see the Countries where wealth tax is in practice.

Newbie replied on Sunday, July 24, 2016 01:46 AM PST

@Jamil bro. Thank you. If as a non-resident and a non-filer I do not want to become a filer, can it be done legally or do I must need to become a filer and declare all assets. I have purchased few properties in last 5 years in Pakistan and all of them are in good profit but have not sold any of them so far and hence nothing to declare for cgt reasons.

(75156)

ahmad

Friday, July 22, 2016 02:50 PM PST

Reply:

what is the current value of V 662 phase 8 ?

(75155)

Mubashir

Friday, July 22, 2016 02:47 PM PST

Reply:

Dear LRE

AOA

Kindly evaluate the present market price and location of the following one kanal plot of Phase 6.

700-C
525-C

Hassan Raza replied on Friday, July 22, 2016 02:51 PM PST

Dear Mubashir Sb,

Phase 6 near C 700 is valued around 215 to 220 lacs

Phase 6 near C 525 is valued around 230 to 235 lacs

Hassan Raza
+923028449766
Lahore Real Estate
Email:INFO@LREPK.COM

Hassan Raza replied on Friday, July 22, 2016 03:05 PM PST

Dear Sir,

Phase 6 near C 700 is around 215 to 220 lacs and C 525 is around 230 to 235 lacs

Hassan Raza
+923028449766
Lahore Real Estate
Email:INFO@LREPK.COM

(75154)

Chaudhary�

Friday, July 22, 2016 02:22 PM PST

Reply:

price evaluation..LRE team
700,525 phase 6 sector c

Hassan Raza replied on Saturday, July 23, 2016 01:50 PM PST

Dear Sir,

Phase 6 near C 700 is around 215 to 220 lacs and C 525 is around 230 to 235 lacs

Hassan Raza
+923028449766
Lahore Real Estate
Email:INFO@LREPK.COM

(75153)

Ali

Friday, July 22, 2016 02:07 PM PST

Reply:

Price Evaluation
Dear Lre,
Pls evaluate EE-600 in State Life PH-2

Thanks.

CH SAEED replied on Friday, July 22, 2016 02:39 PM PST

Dear Ali Sb,

Your plot near EE 600 is around 18 lacs

CH SAEED
+923224333661
Lahore Real Estate
Email:INFO@LREPK.COM

(75152)

Amir

Friday, July 22, 2016 01:29 PM PST

Reply:

NFC 2 Plot
Dear LRE,

Kindly evaulate the cost of land of 130-A NFC-2.

(75151)

Mubashir

Friday, July 22, 2016 01:26 PM PST

Reply:

Plot Evaluation in NFC 2
Please evaluate the current price of my plot E 200

thanks

Mian Waqas replied on Friday, July 22, 2016 01:37 PM PST

Dear Mubashir Sb,

Your plot near E 200 is around 44 lacs ( cost of land )

Mian Waqas
+
Lahore Real Estate
Email:INFO@LREPK.COM

Anwar replied on Friday, July 22, 2016 09:36 PM PST

Mubashir sahib if u want to sell NFC 2 plot E 200 I want to purchase on cash because I have to return back on , immediate transfer. Please contact me at

FK replied on Saturday, July 23, 2016 06:04 AM PST

AOA
What is peice of G-401 (10 Marla) full developments paid.

Thanks

(75150)

Asad-Al

Friday, July 22, 2016 03:13 AM PST

Reply:

Guys - Please check this detail sheet

Total Late Fee for 1 kanal Prism development charges, if you pay after 3 years i.e 31 dec 2018 (exact date), will be 582309 PKR.

Asad-Ali replied on Friday, July 22, 2016 03:31 AM PST

Above Post is about Reference # 84474 (A Person asked for total late fine for 1 kanal prism development charges) after 3 years.

Mohammad replied on Friday, July 22, 2016 12:29 PM PST

Thank you brother Highly appreciate your effort

Babar� replied on Friday, July 22, 2016 07:16 PM PST

Dear Asad AL thanks a lot for sharing such a important information. Appreciate your kind effort.

(75149)

ahmad

Friday, July 22, 2016 02:48 AM PST

Reply:

what is the current value of V 662 phase 8 ?