Lahore Real Estate Forum

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(74886)
Sunday, July 3, 2016 01:49 PM PST 

Dear experts!
What is meant by the mozas mentioned on commercial files? I mean I have phase 7 commercial file MOZA KARBATH. has this anything to do with future allocation of plot? like karbath falls in the area near Y block or at the time of balloting I will be alloted a plot randomly anywhere in phase 7 ?

Jameel Mughal® replied on Sunday, July 3, 2016 04:21 PM PST 

User, In Current environment it Looks irrelevant Question, But I explain you,
When Pockets are being cleared the File Contain the Mouza from where these are originated, But it has noting to do with your Plot
Location and after Ballot you may see it any where.
However there are few details involved,
1. Ist seeing on Mouza of New File we can understand that this Pocket is going to be removed or partially removed.
2. If Phase is already developed and almost no place left Like in Phase 7 then you are 50% sure that you will be located on same Land
3. If Most Phase is already developed and DHA is announcing mini Ballots at fast pace the it is even more sure that location will be same.
But No guarantee if 2,3 mini ballots are merged.

Arif M® replied on Monday, July 4, 2016 12:23 AM PST 

I too had confusion regarding this. Thanks for sharing valuable info.
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(74884)
Sunday, July 3, 2016 10:54 AM PST 

Dear Brothers,
I know people are upset & very rightly so actually if for a moment we leave aside the personal profit/loss & try to think on a bigger canvas what was happening or going to happen that would have benefited pakistan in general & property business in particular
1. The rumor is that may be people working in the Gulf/Middle East may not be able to transfer their entire salary.
2. People living in USA & Europe of pakistani origion were planing that they may own at least one plot/house in Pakistan
3.Reliance on paper money was slightly being considered risky
4. Buying of gold , of course is an an option But its storage is slightly risky

I guess these benefits we may now not be able to covert to our advantage.
A very well planned game.
Regards long live Pakistan

MIT® replied on Sunday, July 3, 2016 11:13 AM PST 

@Ahmed Khan: What is your point then, can you explain please?

Jameel Mughal® replied on Sunday, July 3, 2016 04:10 PM PST 

He actually mean world is going to economical unrest and final currency will be gold.I don't think any of these things is going to happen.

ShahzadQamar® replied on Sunday, July 3, 2016 04:21 PM PST 

Very scatterd view of Ahmed without any result. Gold is and will nevrr be a future. Its always just a safe heaven and that too for short periods or couple years. 1400+ is not a near term target for Gold perhaps

AHMAD HASSAN® replied on Sunday, July 3, 2016 04:59 PM PST 

Very much clear point of Ahmed Khan that GOVT plan to rip off overseas Pakistanies. Since that money was earned abroad countries so ultimate destination of our saving is out of Pakistan. Either it will be pulled back through our rulers which is part of their job description or we ve to stop sending or move back our funds voluntarily. This is not justified that you earn outside and spend in Pakistan.

ahmed khan replied on Sunday, July 3, 2016 06:32 PM PST 

Dear Hassan you are very close, just pray that the other hidden point does not see the light of the day (inshAllah) it will not otherwise ?
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(74883)
Sunday, July 3, 2016 06:04 AM PST 

Dear LRE Team,

I have kept one 10-Marla File in DHA-Phase-7. Please suggest if there are chances of increase in price or I should go ahead with sale out?

Please also suggest if you have any news about its balloting ?

Thanks/Regards

Salman.A® replied on Sunday, July 3, 2016 07:56 AM PST 

@humaid

M.kashif ka chori ka plot hai ?

Moun kala karwanay say behtar hai k woh bechay hi na

humaid replied on Sunday, July 3, 2016 08:02 AM PST 

@Salman.A

what happened bro?

one cent Millionaire replied on Sunday, July 3, 2016 08:06 AM PST 

humaid jaisay logon ko kehtay hein "Oyee chaval insaan chavaalan na maar"

Farasat replied on Sunday, July 3, 2016 12:44 PM PST 

Kashif bro, what ever is its
location, advisable is to hold it for sometime. Its worth would further increase. If you still want to sell, don't even think of selling below 70 which is minimum for a 10 marla in a developed phase like ph-7.

Farasat replied on Sunday, July 3, 2016 12:50 PM PST 

Sorry, I thought it is a plot. For file, LRE staff can give you right direction.

LRE® replied on Monday, July 4, 2016 02:51 PM PST 

Dear Kashif Sb,

Kindly
contact Hassan Raza +923028449766.He give better suggestion for you.



LAHORE REAL ESTATE
EMAIL:INFO@LREPK.COM
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(74882)
Sunday, July 3, 2016 05:19 AM PST 

test
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(74881)
Sunday, July 3, 2016 04:35 AM PST 

Test
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(74879)
Saturday, July 2, 2016 10:42 PM PST 
Zakkat related Query

AOA, I have two plots one is for sale and other one is to build a house for personal use. My intention is to use the money, earned by selling first plot, for construction of a house. In this case, Zakkat is applied on the value of plot for sale?

Habib replied on Saturday, July 2, 2016 11:31 PM PST 

It is your Nayyat, But if You have money today for making home still you will Pay Zakat?? If yes then other plot which you are thinking of selling you should pay Zakat
But all depends on Niyyat as it is Grey area or ssee some scholor

Arif M® replied on Sunday, July 3, 2016 12:12 AM PST 

Only a qualified mufti can give proper verdict but as per my research if your intention is purely to built house after selling this plot then zakat might not be applicable on it. But I ll still recommend you to get a fatwa from some credible qualified scholar or institute.

Salman.A® replied on Sunday, July 3, 2016 02:34 AM PST 

Zakat is applicable on the plot which you are holding to sell , even if it is for construction.

Zakat is not applicable on the plot where you want to build your home.

You should consult an AALIM

This is according to sunni school of thought. I don't know about fiq e jafria. Zakat rules are different.

Consult someone you trust and follow them.

Aldwin® replied on Sunday, July 3, 2016 07:06 PM PST 

As per Imam Malik zakat is paid once when you sell your investment property. As per 3 other schools of thought, zakat needs to be paid every year on property held as investment. regards,

Not registered yet replied on Sunday, July 3, 2016 08:05 PM PST 

@Aldwin

As per Mr. Rizwan query you are v.right but i want to add if the property is for long term investment like Rizwan, he has to pay Zakat immediatly after selling for one year, but if some one is trading (selling/purchasing), in that case he has to pay Zakat every year on the date decided. this is what i understand, however it should be cross checked.

User_18647® replied on Sunday, July 3, 2016 08:06 PM PST 

@Aldwin

As per Mr. Rizwan query you are v.right but i want to add if the property is for long term investment like Rizwan, he has to pay Zakat immediatly after selling for one year, but if some one is trading (selling/purchasing), in that case he has to pay Zakat every year on the date decided. this is what i understand, however it should be cross checked.
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(74878)
Saturday, July 2, 2016 10:41 PM PST 
Zakkat related Query

AOA, I have two plots one is for sale and other one is to build a house for personal use. My intention is to use the money, earned by selling first plot, for construction of a house. In this case, Zakkat is applied on the value of plot for sale?
>
(74877)
Saturday, July 2, 2016 09:43 PM PST 

Dear Jameel Bhai,
I have HSBC account in UAE and always withdrawn money from HSBC and sent to my ABL account in Pakistan through exchange companies for buying property. Could you please advise whether it will be considered as white or black. I have complete records of my salary slips in UAE, bank statements of HSBC UAE and ABL Pakistan.

Thanks in advance for your support,
Kind regards,

Habib replied on Sunday, July 3, 2016 12:48 AM PST 

Dear User Bhai, It is purely white only Keep record of Transactions

User_18559® replied on Sunday, July 3, 2016 12:58 AM PST 

Thanks Habib Sb.

Salman.A® replied on Sunday, July 3, 2016 02:32 AM PST 

it is WHITE in layman terms.

But to declare it WHITE is whole another STORY.


You should have record of slips from the exchange company. On the slip yu will find the bank which transfered money to you account in pakistan.

You will have to write to the bank which trasnferred money in your account for PRC certificate.

This PRC certificate will be your proof of WHITE money. Other wise any bank statement is not valid for FBR. You moey will be considered black.

Then you or your lawyer declare this money in TAX EXEMPT income in yearly tax returns.

You will have to go through all this procedure to declare your money white and to become a filer.

User_18559® replied on Sunday, July 3, 2016 03:35 AM PST 

Thanks Salman Sb for this detailed guidance. During my next visit to Pakistan I will definitely do the necessary follow with the bank to get PRC certificate for all my remittances. I will also
contact a lawyer to start filing returns. I believe now all overseas Pakistanis must take care this process to avoid any complications with FBR.
Thanks a lot once again for your time and guidance. It will definitely help many overseas like me.

Overseas_Desi replied on Sunday, July 3, 2016 03:37 AM PST 

Come on Salamn.A, don't scare the poor guy, he is working in UAE and have his salary slips, what other proof is required that his money is white.

When it comes to common man, all types of proofs are required, even when the money is earned overseas and transferred to Pakistan.
But when corrupt elite send millions of black money outside Pakistan, no proof is required. Hell with this type of system and lanat on those who support these type of corrupt rulers.

Salman.A® replied on Sunday, July 3, 2016 05:25 AM PST 

@overseas DESI

i just outlined the procedure.

SALARY SLIPS dont make your money white in PAKISTAN.

You have to proof you sent it through proper banking channel and show it in your return. JUST A LEGAL PROCEDURE and everyone has to follow it.

I have been telling this on this forum for quite some time. I have outlined the details in my previous POST # 83010

Oversees Investor VIRGINA replied on Sunday, July 3, 2016 08:11 AM PST 

i always send my brother money from america for last 5 years thru my bank account to his Askari bank account n then thru money gram ..n my brother told me he got Certificates for every transaction thru his bank branch .They have to send all info to karachi it takes few weeks so if you have proof of moneygram western union transactions n bank wires slips .get ur money white .Let's do it proper way before these bleedy noon league corrupt loot us for our hard earned money

Salman.A® replied on Sunday, July 3, 2016 08:41 AM PST 

@overseas invester virginia

That money is white for your brother. You cannot claim that money to be white as yours.

User_20873® replied on Sunday, July 3, 2016 01:26 PM PST 

How we can send money in our own accounts for for installments or other payments. We have to send money to the person who manages it.

Ejaz_EJ® replied on Sunday, July 3, 2016 03:41 PM PST 

Dear All,
simplest way is to get the remittance card issued from Embassy of Pakistan in your respective country,

I got issued remittance card from Abu Dhabi and I am getting it from the last 2 years, according to the card category it is clear that you send specific amount of money to Pakistan through legal means.

SIM replied on Sunday, July 3, 2016 04:05 PM PST 

In response to FBR notice after I purchased a plot, I submitted following documents which were accepted and notice was withdrawn.

1-Proof of non resident status.
2-Remittance certificate from the exchange company.
3-Salary certificate.
4-Remittance card.

Azee replied on Sunday, July 3, 2016 05:54 PM PST 

I have question in fact related to this topic;
If one had purchased plot after transferring funds from abroad via bank transfer(s) BUT didn't obtain PRC at time
May request one's bank to provide now for the transfers made in past, let's say ten transactions during last two or three years?
Who (FBR/Income Tax Dept/Ishaq.dar/..) can help if bank refuse to do so.

I believe if it's possible many of our friends can fix part of problem if not all.

Waiting for reply.... Regards

Ammar® replied on Sunday, July 3, 2016 06:56 PM PST 

Dear Salman Sb,
Please needs one clarification.
I am currently working for a company that doesn't exist in Pakistan. I am looking after my company's customers in pakistan. But As I am working in pakistan but my salary is coming from outside Pak in USD in my SC usd account, what would be my tax status?
Is my monthly compensation is tax exampt as normally people say that all foreign remittance coming in Pak through proper bank channels is tax exampt?
Kindly do guide me,
Thanks

End_User replied on Sunday, July 3, 2016 07:04 PM PST 

Dear Salman Sb,
I have one question regarding this topic.
I am working for a company who doesn't exist in Pak and my salary (USD) is coming from outside Pakistan directly into my SC dollar account through proper banking channels.
What will be my tax status?
I have asked few people and normally they say all foreign remittance coming through proper banking channels are tax exempt.
Could you pls advise me correct legal status of my tax?
thanks,
looking forward for your advise.

User_10773® replied on Monday, July 4, 2016 01:52 AM PST 

Just keeping record of your transactions with yourself isn't going to be an acceptable case for tax authorities. The real thing that is required under the law is your declaration through filing of your yearly income tax return. It is important to be a National Tax Number holder and even more important is to be a filer. Once you declare all your Income/Expenditures you need not to worry

Salman.A® replied on Monday, July 4, 2016 07:34 AM PST 

@ ammar

I am no TAX expert.

But what i understand from your question is that the company is not pakistan and sending money from overseas.

The money which is being sent to you is your salary which you will have to declare as your income and pay income tax on that amount.

Your money will be white.

If the company is sending USD from the business account then it will be considered your income. you cannot claim that money to be tax free.

If it is from individual then you can claim that money to be tax free remittances.

Better to consult a lawyer.

@ Azee

Yes you can get PRC for past 10 years or beyond. No problem at all.

NOTE: If overseas dont want to become filer then it is completely normal and natural. Just complete your homework and keep every document ready. If and ever you get a notice from FBR , reply to that notice with the help of lawyer by proving your money is white. If you dont get any notice then you are lucky.
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(74876)
Saturday, July 2, 2016 08:13 PM PST 
Mazrat ky sath

Zakat ka der tex ka der
Hum in say itn Derty kyon hain kya hum chahty hain hum 100% khod Hi bacha lain haqeeqat main zakat ap ky maal ko pak kerti hy or tex say hamara mulk (country) chalta hy. Kya hum sara passa apny sath lay Jain gy . Main bi Chota sa invester hon real estate ka mujy to koi der nahi Tex ka estate ka bi haq hy hamary profit main . Tex ky khof say hum apna bi or mulk ( country ) ka bi nuqsan karain gy . To plz himat rakain tex bi dain or bussniss bi karain . Shukria Allah hum sub per apni rahmat rakhy . Ameen

Mian® replied on Saturday, July 2, 2016 09:25 PM PST 

@ Sac First registered your self than give your suggesstion

Sharif replied on Sunday, July 3, 2016 01:06 AM PST 

@Mian the Thekedar of rough registers
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(74875)
Saturday, July 2, 2016 08:10 PM PST 
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(74874)
Saturday, July 2, 2016 07:10 PM PST 

Aoa, I know my post will b deleted because I am not registered I am not a frequent writer on this blog but I do visit this site, I want to request CMY sahab, please tell ppl and clear misconception about the tax rumours in the market, ppl follow u and lessons ur video massages, it happens every year there is no big tax on property, they just want there hands on non tax payers out there, ppl like me ( mango ppl) will not b affected :-) please tell ppl not to panic everything will b cleared in a week or so after eid......happy holidays ppl and eid Mubarak

Habib replied on Sunday, July 3, 2016 12:56 AM PST 

I understand you are holding for long time, In Long run there is no risk Fluctuations will continue, Volume of Trades is expected to remain low next 2 3 months , When normal operation starts then only market direction can be determined.

I am sure CMY must analyzing situation very carefully I am also waiting for his advice. But you can call him directly he will tell you exit strategy. I understand there are certain messages which can not be given publically on site where 50000 People visit in 24 Hours.

Nadeem25® replied on Sunday, July 3, 2016 07:08 PM PST 

what is the confusion capital gain tax on revised dc rates will be implemented on each transaction less than five years old actually the mindset of our investors and people in pakistan is that they are not ready to pay any tax whatsoever and you can check the active tax payer list of fbr and you find very limited people who are filers rest majority of people commenting here are non filers and wants to remain non filers for ever how is this possible bhai you need to understand that each and every citizen 18 years old in canada and america are made to file their returns via internet there is absolute no hiding of income or profits or gain it is a serious crime there so my dear we should also bring everybody in tax net and start paying taxes all these countries are being run on taxes . people commenting here are all non tax payers and they abuse for one reason or another
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(74873)
Saturday, July 2, 2016 06:29 PM PST 
Out look of market

I will request CMY to give us realistic Picture of Short term out look of Market in Coming 1,2 Years. So that potential sellers and buyers can deceive, I see Both panic and denial in forum members.
It is imperative to give both positive and negative out look picture.

Habib replied on Sunday, July 3, 2016 12:09 AM PST 

CMY silence on this matter is quite meaningful

Arif M® replied on Sunday, July 3, 2016 12:14 AM PST 

CMY is also a human being but with more information perhaps. I expect him to address this topic in coming week once he has some solid information of these taxes.

SIM replied on Sunday, July 3, 2016 12:47 AM PST 

We all know Ishaq Dar has killed the property business. Now CMY or no one else can help us out.

Usama Javed® replied on Sunday, July 3, 2016 01:08 AM PST 

See yesterday's Ishaq Dar interview to Tallat Hussain. Govt almost ready to settle this tax "Sayapa" with some bargain.Ishaq Dar cannot afford to detroy Real Estate industry at this critical time. I believe they will be some upward revision of dc rates. Their main focus area is Agri land where huge under valuation is being excersied. I have agri land as well so know registry/parwar khana culture. thousands of thousands people's bread butter is connected with real estate sector. itni bhi Andhar nai machi. i believe no need to panic. just relax

Arif M® replied on Sunday, July 3, 2016 01:21 AM PST 

Usama, We know track record of Ishaq dar. He is all sweet talks when in media. But what he has done with traders and banking transactions is in front of us. He is good at these games. I guess he knew the reaction and therefore he put in extra ordinary taxes for bargaining purpose. He ll keep testing market just like he is dealing with traders. Just to avoid immediate protests.

Usama Javed® replied on Sunday, July 3, 2016 01:28 AM PST 

well in that case we should mobilize all the stake holders after guaging the situation against this tax in coming days.we are ready to pay taxes not bhatta

Rashid replied on Sunday, July 3, 2016 01:53 AM PST 

DHA Phase-7 is best for short and long term investment.
Economical ,just buy one at good
location having low price like Sector Z

CMY replied on Monday, July 4, 2016 01:09 AM PST 

Jameel bhai I am going to give a detailed opinion on this to due to last week of before Eid I am busy in family matters and spending little time with own kids visiting from universities.


Will be done soon insha Allah
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(74871)
Saturday, July 2, 2016 03:33 PM PST 
THE EXPRESS TRIBUNE. KCCI PRESIDENT IRKED BY Property valuation amendm

Referring to an amendment made to Section 68 of the Income Tax Ordinance 2001 through the Finance Act 2016, Karachi Chamber of Commerce and Industry (KCCI) President Younus Muhammad Bashir stated that the particular amendment must be immediately revoked as it will open more avenues for corruption.

“The amendment would increase corruption,” Bashir said in a statement issued on Friday.

He said that the previous system for property valuation through a pre-defined category-wise table must continue but this property valuation table needs to be revised more frequently and more categories must also be added to the table.

He urged the government to take a decision at the earliest in this regard because this amendment, which has come into force from July 1, 2016, would cause immense problems for buyers and sellers of immovable properties.

Not registered yet replied on Saturday, July 2, 2016 04:40 PM PST 

I think this will only affect people who have not paid taxes on their wealth. Other than that its a good initiative. High property
prices damage the economy of a country in a number of ways:-
1. House is a basic need and most honest people and newer generation are deprived of a basic necessity, just so that investers can make billions.
2. For every business land is a basic input from opening a restaurant to setting up a factory. With such high prices most businesses are not feasible or profitable because of such high cost or rent of commercial areas.
Therefore over all it will benefit the economy and the common man

KK® replied on Saturday, July 2, 2016 05:21 PM PST 

It is assumed by decision makers that all money in property is black, overseas pakistani are sending 18 to 20 billion dollars per year and all goes to property,but this tax implementation will affect remittances and even loss for govt instead of tax

AHMAD HASSAN® replied on Saturday, July 2, 2016 05:31 PM PST 

This is true, if GOVT will not fix then properties evaluation will be done under the table.

AHMAD HASSAN® replied on Saturday, July 2, 2016 05:37 PM PST 

Actually our hope is based on FM yesterday's interview on GEO. We are also waiting for story of first transfer after Eid. We are assuming that
prices will be down little bit. But my question to all what if big investors add 10% in price to cover taxes.

M Zahid® replied on Saturday, July 2, 2016 06:00 PM PST 

Ahmad,
If big investor add 10% then will not buy and even sell until market price is rational
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(74870)
Saturday, July 2, 2016 11:04 AM PST 
Property Slump

Dil bolaney ko khial Acha ha. There is not single byer in market after 1 July taxes change, but people including me asking old (golden period) prices.
I have also two plot 4 sale and not a single offer received after the change. Property needed long long time to stable after this Slump.

MALIK® replied on Saturday, July 2, 2016 12:39 PM PST 

Dear Khalid Aziz,
In all your previous posts you are only talking about big slump, and how poor people cannot afford even a 3 marla house with life savings, i do not think you have 4 plots to sale, you are only advocating a slump so may be you can buy a cheap plot.
Its an excellent move by CMY to register the people on this forum.
Please people in the forum do check this guys previous posts.its strange at what lengths people go to achieve their goals.

MALIK® replied on Saturday, July 2, 2016 12:49 PM PST 

Please check Mr Khalid Azad's previous posts, I doubt he has 4 plots to sell,I think he wants to buy a plot at a cheap rate so advocating a slump. It's an excellent move of CMY to register everyone on the forum,in his previous posts he just keeps complaining how poor people cannot even afford 3 marla house with life savings.
Allah sab ko ghar da Ameen but please keep your hearts clean and avoid living.

User_9325® replied on Saturday, July 2, 2016 01:04 PM PST 

Its been only two days bro. just chill and relax. you will recieve offer. action will begin after eid. market will absorb these taxes and there will be business as usual after eid

Arif M® replied on Saturday, July 2, 2016 02:37 PM PST 

Everyone is cautious at the moment. Things will take sometime to settle down. Buyers will start giving offers only after things become clear about taxes and how FBR will ask questions about money from buyers. All depends on policies given by Govt. So lets wait and see.

Jameel Mughal® replied on Saturday, July 2, 2016 03:27 PM PST 

At least this Eid season will be spoiled there will no sale purchase, as procedure will be understood slowly. Byers are expecting
prices to be lower. But sellers will hold for a while to see if if this panic is transient, in 3 months market will reach some balance.
This is tough time for dealers as they have to earn daily living by this business. People who want to buy will be more attracted towards ready properties.

HassanHC® replied on Saturday, July 2, 2016 03:35 PM PST 

Referring to an amendment made to Section 68 of the Income Tax Ordinance 2001 through the Finance Act 2016, Karachi Chamber of Commerce and Industry (KCCI) President Younus Muhammad Bashir stated that the particular amendment must be immediately revoked as it will open more avenues for corruption.

“The amendment would increase corruption,” Bashir said in a statement issued on Friday.

He said that the previous system for property valuation through a pre-defined category-wise table must continue but this property valuation table needs to be revised more frequently and more categories must also be added to the table.

He urged the government to take a decision at the earliest in this regard because this amendment, which has come into force from July 1, 2016, would cause immense problems for buyers and sellers of immovable properties.

MALIK® replied on Saturday, July 2, 2016 03:46 PM PST 

Please check Mr Khalid Azad's previous posts, I doubt he has plots to sell,I think he wants to buy a plot at a cheap rate so advocating a slump. It's an excellent move of CMY to register everyone on the forum,in his previous posts he just keeps complaining how poor people cannot even afford 3 marla house with life savings.
Allah sab ko ghar da Ameen but please keep your hearts clean and avoid propaganda.

MALIK® replied on Saturday, July 2, 2016 04:04 PM PST 

Sorry for repeat posts as error was coming up i thought posts were not going through,admin please remove repeated posts
Thanks

Adnan_Ali® replied on Saturday, July 2, 2016 04:36 PM PST 

The people like Mr Khalid are called as "OPPORTUNIST" who try to create panic new investors with little nerves so they could buy at cheaper price. Khalid its only 1st day of july and Banks close dues to first day and Jumma-tul-vida, so its natural that no transaction takes place.

You should not worry because the people who had to quit already sold and transferred before 30th june and current investors are ready to wait and watch at least for 2-3 months, so less sellers and comparatively more buyers will keep at least stable the
prices (prices will not fall). Also its expecting this law will be revised within 1 month when Dar/FBR company will see the total Tax collected (volume wise) in first month of july and compare it with July 2015 stats :)

Khalid Azad® replied on Saturday, July 2, 2016 04:53 PM PST 

Mr Malik and Adnan bhai. I already mentioned my plot no to CMY sb and his
team for sale. If you are interested please contact him with offer.
I am sorry if any body feel my words.
I pray for all best for all of us. And wish to have stability in market.

Khalid Azad® replied on Saturday, July 2, 2016 05:32 PM PST 

Dear Malik & Adnan Bhai,
I have informed my plots to CMY sb and Salman sb a month before for sale. If you are interesting or have purchaser you may deal with Mr Salman sb with my reference and also may received my phone no and details form them (if i have plots or not for sale).
It no matter for market effect with single person post, i pray for stable market for all of us, i mentioned as i observe one may be differ from my point of views. Sorry if some one feel, but my point was my personal observation.

AHMAD HASSAN® replied on Saturday, July 2, 2016 05:39 PM PST 

Dear Malik, you can agree or disagree with ones opinion but shouldn't become personal.

AHMAD HASSAN® replied on Saturday, July 2, 2016 05:43 PM PST 

@ Jameel, please
update any transfer came into your knowledge for us to understand new policy. We are also concerned about time would be required for transfers. We always visit Pakistan for limited days.

Adnan_Ali® replied on Saturday, July 2, 2016 05:51 PM PST 

Okay Khalid, sorry i feel that i got little bit harsh. Appologize.

But i feel that its not necessary to post dozens of articles to make market Panic.(of course unintentionally by you) just Chill,

Thanks

AHMAD HASSAN® replied on Saturday, July 2, 2016 05:55 PM PST 

SHABASH Adnan, only brave people admit mistakes and apologies. Morally & ethically you are at very high level now.

MALIK® replied on Saturday, July 2, 2016 06:04 PM PST 

I was not being personal ,just curious see below post and you can even go further into older posts why would someone only talk about a slump on a regular basis, this is just one post of many

Khalid Azad replied on Tuesday, April 19, 2016 09:25 AM PST

My respected brother please always Wright only on issue type and not personally. It's bad sign and degrade personality.
As type in also think that prism lahore will be ready nearly 2025. Even shahbash to dha management if they deliver it in 9 years time.
It's
prices are over as investment now

MALIK® replied on Saturday, July 2, 2016 06:19 PM PST 

Another post by Mr Azad
May be unintentionally you were posting about a big slump, but I think apka itna zada slump ka posts se such ma he slump aa gaya, anyway I hope everything happens for the best.


Khalid Azad replied on Saturday, May 7, 2016 11:47 AM PST

Dear Brother Surfer And respected CMY sb, I don,t have any objection on Prism
location that will be come in shape nearly 2025, then it will be good phase of DHA. My point are that its today prices are not realistic. Both Respected Brothers you agreed or not but Prism will going for some correction before next investment from peoples, its all about same condition as 2005 in property blast. Most of Innocent new investor will be going to share from this blast (Sorry).
If Property blast happen then most effected ares will be prism 9 due to not in plot shape (developing areas).
Think 9 time before to invest in prism 9 on current prices.

Jameel Mughal® replied on Saturday, July 2, 2016 06:24 PM PST 

@ Adnan Ali, some Correction in market is must, As timing of this drama was critical, Due to gain of about 50 to 60% last year market was already prone to correction. The timing of These taxes and white Money Law is another issue. The buyers in last few years have to prove the source of income not at the time of Sale and purchase But FBR will call data from societies for last transfers, You put your plot for sale or not people will start getting notices from FBR retrospectively.
I am not not worried about a bit of Change in transfer rates but more on this 35% deduction Kala Dhan Law.
I hope some amnesty or revised rate be announced.

Khalid Azad® replied on Saturday, July 2, 2016 07:10 PM PST 

Dear Adnan bhai I salute yours greatness. And my brother Malik still in think that a Slump is come already or coming soon.
Even i have plot for sale but I can't till last month.
In other hand I believe that current
prices are not justify as my brother Jameel sb also saying.
Any how forget previously mentioned and hope for best.

Kureshi® replied on Saturday, July 2, 2016 07:11 PM PST 

Jameel sb, my question is ...

Will they be determining market price of 4 years back and compare it to DC value shown in the income tax return of 4 years back ? How is that even possible to acertain narket rates of property of past 5 years of different societies and at differebt locations....

I do agree with u ... kala than issue is bigger than CGT. Gayhoon kay saath ghunn bhee piss jayega !

Adnan_Ali® replied on Saturday, July 2, 2016 09:49 PM PST 

Jameel Bhai, worst case scenerio, market will not go down more than 5-10% and that too only in risky areas, Possession areas are already safe.

I am 100% sure that FBR/FM intentionaly played a game very nicely to collect the revenue for to meet the IMF Targets of tax collection. Please check the data of "number of transactions" taken place in last 2 week of June. They collected billions of rupees via CVT/Stamp.

After Eid and NS arrival, things will get smooth since they too have a big share in real estate market and their vote bank is based on this (Soney ka anda deney wali murghi kon zibah karta hey). CGT will be only on net profit and there will be no SBP/FBR market evalation. (DC Rates will be revised to reallistic values and CGT will be between 2-5% on net profit (but will not exceed 5% on Profit)

About white money/black money, its just a public statement. if you live in Pakistan, there are hundreds of ways. 35% deduction on untaxed(undeclared) money, do not take it serious.

Abhi tak 2% ki Tax Amnesty Scheme ki option bhi available hey. And best thing is FBR staff is very co-operative and they will give you best solution/Advise (but after one pay them some extra - u know what i meant)

Adnan_Ali® replied on Saturday, July 2, 2016 11:01 PM PST 

Jameel Bhai, I meant that this new tax 10% CGT and Market evaluation by State Bank/FBR is not possible.

I am 100% sure that FBR/FM intentionally played a game very nicely to collect the revenue for fiscal year to meet the IMF Targets of tax collection. Please check the data of "number of transactions" taken place in last 2 week of June before 30 june. They collected billions of rupees.

And very shortly you will hear good news. Its just a temporary situation created either intentionally/testbase to check reaction. CGT will not be more than 5% of net PROFIT gain and no evaluation but with revised DC Rates

Habib replied on Saturday, July 2, 2016 11:22 PM PST 

Property is not like stock the rates will take about 3 months to fall, only you will not see any offers.
Whole rush will divert to plots with possession and houses

MALIK® replied on Sunday, July 3, 2016 01:08 AM PST 

People who are not able to do business due to whatever reason where would they invest money, with taxes profit margin will get less but I think people will still invest in property, may be less reshuffling will be done as before.
I'm selling a plot after eid as deal has already been done,I will let everyone on the forum know about how much taxes etc were paid so we know exactly where we stand.
Happy holidays and Eid Mubarak in advance to everyone

Kureshi® replied on Sunday, July 3, 2016 03:08 AM PST 

Is tension kay mahol mein Adnan bhai ka khushgawar and much needed positive chutkala...:)

Ahmad786® replied on Monday, July 4, 2016 06:58 AM PST 

Its seller who is effected not buyer. I am surprised that u could not find buyer. I am seller and I have decided not to sell
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(74868)
Saturday, July 2, 2016 08:22 AM PST 

Dear experts!
What is meant by the mozas mentioned on commercial files? I mean I have phase 7 commercial file MOZA KARBATH. has this anything to do with future allocation of plot? like karbath falls in the area near Y block or at the time of balloting I will be alloted a plot randomly anywhere in phase 7 ?

Jameel Mughal® replied on Sunday, July 3, 2016 04:20 PM PST 

User, In Current environment it Looks irrelevant Question, But I explain you,
When Pockets are being cleared the File Contain the Mouza from where these are originated, But it has noting to do with your Plot
Location and after Ballot you may see it any where.
However there are few details involved,
1. Ist seeing on Mouza of New File we can understand that this Pocket is going to be removed or partially removed.
2. If Phase is already developed and almost no place left Like in Phase 7 then you are 50% sure that you will be located on same Land
3. If Most Phase is already developed and DHA is announcing mini Ballots at fast pace the it is even more sure that location will be same.
But No guarantee if 2,3 mini ballots are merged.
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(74867)
Saturday, July 2, 2016 08:18 AM PST 
Transferring Money Overseas

I am living in UAE and transfer money to my relatives every month through money exchange companies as a cash pickup in lahore. I bought few properties in installments and went many times to pakistan and take sometimes 7000 or 6000 thousand dollars and bought plots or paid instalments. How can i prove me money is legitimate for buying property in lahore?

Maztek replied on Saturday, July 2, 2016 10:49 AM PST 

The money sent through banking ch is taken as legitimate. Purchasing property from the money received through any other via is not in order. Thus all this money can be taxed heavily, once declared or used in the purchase of property,

Ahsan® replied on Saturday, July 2, 2016 12:37 PM PST 

But exchange companies send through banks secondly i for property 3 years ago.If I sell now then it would be white because it comes from sale of land? Am I right?

Jameel Mughal® replied on Saturday, July 2, 2016 04:28 PM PST 

Ahsan Sahib, You are playing very dangerous game, all transactions should be Bank To Bank, I have account in UBL Abu Dhabi, They helped to open an Account in 2007 in Pakistan by paying just 50 Dhs Courier Fees, I always Legally Transfer the money from UAE to Pakistan By Tez Raftar, The Rates are 99% exactly same as Open market rates in Lahore. There is no transfer fees. I pay all amounts by Pay order and Keep Tez Rafter Transaction Proof and Copy of Pay order in plot's File. Time to time I get statement from UAE bank and Pakistan Bank. And I keep record of My salary slips. This is very simple.
One of may friend built one Kanal House in about 1.35 Cror. He transferred most of money bit by bit by Hundi and and now Case is in Court and FBR asked proof of Money and are imposing penalty for Black Money [ i guess 35%]. The case is still in Court for last 2 years and just headache.

User_9325® replied on Saturday, July 2, 2016 05:14 PM PST 

I am amazed why yur friend went to court. income tax lawyers always trap people. My cousin faced similiar situation. he got notice to show the source of his house purchase. Instead of going to court , he made a settlement with that FBR officer in 6 lac rupees and got a clearence certificate making his 5 crore white legal money

Ahsan® replied on Saturday, July 2, 2016 07:38 PM PST 

@jameel sahib

I have a record of my all salary slips and I am an Australian citizen I send money through express cash(UAE exchange) in MCB bank but cash pick so my cousin deposit installments and I have installment slips too. Please guide me in this situation.

User_18559® replied on Saturday, July 2, 2016 09:27 PM PST 

Dear Jameel Bhai,
I have HSBC account in UAE and always withdrawn money from HSBC and sent to my ABL account in Pakistan for buying property. Could you please advise whether it will be considered as white or black. I have complete records of my salary slips in UAE, bank statement of HSBC UAE and ABL Pakistan.

Thanks in advance for your,
Kind regards,

Mhb replied on Saturday, July 2, 2016 10:14 PM PST 

Dear,
I have also have some plots in lahore transfered money not by bank from foreign so if I want to make that plots leagel so what should I do?

Jameel Mughal® replied on Sunday, July 3, 2016 06:44 AM PST 

That should be OK But don't take Cash dollars, one it is risky and other no benefit

Salman.A® replied on Sunday, July 3, 2016 07:39 AM PST 

@jameel mughal sb

It is excellent work that you are keeping record of your every transaction. The only thing which you need to do is ask your branck of UBL in Pakistan to provide PRC certificate of all of your trasnaction since 2007. Just give them TT number which you got from UBL UAE and UBL Pakistan will provide you with PRC.

PRC is the only official document accepted by FBR as remittances.

Cash taken from bank will not be regarded as WHITE money by FBR. But when you are paying for instalments usually it takes 3 years for instalments and further few years before you actually sell it. Case will be 5 years old and FBR will not touch it. Secondly you can show your slips and make a deal with fbr official cheaply as it was your legal money which you earned overseas.

HUNDI, carrying cash on your trips will not count towards white money.
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