Lahore Real Estate Forum

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(74415)
Wednesday, June 15, 2016 12:36 PM PST 
FBR will determine value of property

Sad news for investors :(
http://e.dunya.com.pk/detail.php?date=&edition=LHR&id=

Opinion replied on Wednesday, June 15, 2016 01:52 PM PST 

Sad news. Means in future if this law is approved then buyer has to pay more transfer charges. What will be the overall effect on property
prices, buying etc if this rule is approved in future and FBR will determine and calculate the actual market value of property rather than old DC rate. Thanks.

Noman Ahmed replied on Wednesday, June 15, 2016 01:57 PM PST 

More power more corruption. Government will get the same tax but FBR officers would be rich

User_16051® replied on Wednesday, June 15, 2016 02:25 PM PST 

Very sad

KK® replied on Wednesday, June 15, 2016 03:02 PM PST 

It will increase property tax as well..FBR officers will become rich but govt will get same. overseas will stop sending remittances which goes to property as they cant set up factory or other business while living abroad. Now they will invest somewhere else.

Sorry to say but our country is being ruled by jerks.

Bilal® replied on Wednesday, June 15, 2016 03:37 PM PST 

Even if we pay heavy taxes for the benefit of our country, the ruler elite will not give any benefit to the nation. They will make black money from metro like projects and send money outside of the country.

At the end, people will move their investment to Dubai etc.

S.Hameed® replied on Wednesday, June 15, 2016 04:09 PM PST 

This decision will only increase corruption in FBR and create unnecessary hassles for the public.

Govt. can revaluate the DC value of a housing society instead of accessing the price of each and every plot.

Unfortunately, this has been a specialized characteristics of Pakistan Govt. to make life of people difficult and create unnecessary hurdles.

User_12596® replied on Wednesday, June 15, 2016 04:19 PM PST 

it will create more problem to end users,
prices will be increase and common person will be suffer, Patwari sher aya sher aya,sick noora group

kam replied on Wednesday, June 15, 2016 04:19 PM PST 

it will create more problem to end users,
prices will be increase and common person will be suffer, Patwari sher aya sher aya,sick noora group

Noman Ahmed replied on Wednesday, June 15, 2016 04:32 PM PST 

Mostly the people who are authorized in government matters are behind such proposals and they know that there will be huge chunk of money in property assessments. Assessment for each property would depend upon butter on the bread. High ups in the government are not so stupid they will also get lions share. Money would be asked for the time and assessment value both because both are important in property business.

raise your voices replied on Wednesday, June 15, 2016 04:59 PM PST 

Time to topple Down Noora league Govt. InshaAllah

SIM replied on Wednesday, June 15, 2016 07:01 PM PST 

It can have a very negative impact on remittance, if property business declines.

User_9325® replied on Wednesday, June 15, 2016 07:53 PM PST 

Money will go into stock market which is even more speculative or outside to dubai etc

Real Estate is best replied on Wednesday, June 15, 2016 07:59 PM PST 

@User 9325. Dear usually people earn in stock market and when they pull out they invest in property. property ka paise stocks may generally log nahe lagate as stocks are highly volatile. Govt is greedy and they just want to kill real estate sector

Real Estate is best replied on Wednesday, June 15, 2016 08:01 PM PST 

Anyhow yeh move govt kay taboot may akhri keel ka kaam kare ge

FBR is corrupt replied on Wednesday, June 15, 2016 08:34 PM PST 

Orange train ki zad may anay wali properties ko DC rate par acquire kia aur tax lanay k lia market value ka andaza karne k lia FRB jese bhookay kutay ko laga rahay hain

Hussain replied on Wednesday, June 15, 2016 08:51 PM PST 

Has this been formally approved or just a proposal yet?
>
(74414)
Wednesday, June 15, 2016 12:23 PM PST 
Phase 8 commercial

Dear LRE plz evaluate 8 Marla Broadway plots pair 94/95 B

How is it for investment purpose

Thx
>
(74413)
Wednesday, June 15, 2016 08:40 AM PST 

I asked a question from our brother CMY about DHA Multan. Following is his reply. This for information of all friends.

-------------------------------------
First there will be a ballot to get successful applicants in Installments plots. Then there will be land and installment files and land files ballot in December 2016. Development charges not included in land files or installment files. Only when plot number alloted development charges are imposed. Land files are likely to rise but depending on installments plots prices. They have to rise for land files to gain more. You can post this with my name on Lahore Real
Estate website too.
-------------------------------------

MS replied on Wednesday, June 15, 2016 01:09 PM PST 

Hardly any people interested in Multan.
Files launched at 40 went down to 27 and now recovered back again to 40 barely after 3 yrs, bara koi teer mar liya.

replied on Wednesday, June 15, 2016 01:43 PM PST 

@MS . You are just useless . No one even intrested in ur bull crap. Pata nahe logo ko kiya problem hai multan sy oper jaye ya nechy jub tm ne invest he nahe kiya to tmhy kiya problem teer mary ya na mary. Dha phase 9 ne bhe aise he teer mara tha aur bohat sary logo ko laga tha jo tmhri tarah 2013 mai bolty thy ky phase 9 ne kaun sa teer mar liya hai

Ashfaq® replied on Wednesday, June 15, 2016 03:25 PM PST 

@ MS, please do not throw the negative words without having any information.

Rayyan® replied on Wednesday, June 15, 2016 05:11 PM PST 

@MS A wise man can learn more from a foolish question than a fool can learn from a wise answer. @MS

Rayyan® replied on Wednesday, June 15, 2016 05:14 PM PST 

@MS your thinking and you just good for nothing. Yaha koi tmhri advice nahe lena chahta @MS

Saeed replied on Wednesday, June 15, 2016 08:30 PM PST 

I agree with @ms though. No body wants to buy in multan its very far. You cant compare Lahore with multan its not possible.
DHA multan will develop in more than 10 yrs very reliable source told me this. I am from UK.

Saeed replied on Wednesday, June 15, 2016 08:31 PM PST 

I agree with @ms though. No body wants to buy in multan its very far. You cant compare Lahore with multan its not possible.
DHA multan will develop in more than 10 yrs very reliable source told me this. I am from UK.

N S Mughal replied on Wednesday, June 15, 2016 11:54 PM PST 

Mr MS you are just chuska gp aik shosha chor detay Ho you will see IA multan will be where in 2-3 yrs time

LRE® replied on Thursday, June 16, 2016 01:39 PM PST 

Dear Ahmed Hassan Sb,

Any information about
DHA Multan kindly contact Jawad Ahmed +.



LAHORE REAL ESTATE
EMAIL:INFO@LREPK.COM
>
(74412)
Wednesday, June 15, 2016 08:29 AM PST 
DHA 9 Prism D-886 ?

Assalam Alikum,

Can you, LRE, please evaluate DHA Prism-IX D-886 ?

Thanks

LRE® replied on Wednesday, June 15, 2016 05:43 PM PST 

Dear Nadeem,

Prism near D 886 is valued around 65 to 67 lacs


SALMAN MAQSOOD
+923224009967
LAHORE REAL ESTATE
EMAIL:INFO@LREPK.COM
>
(74411)
Wednesday, June 15, 2016 05:14 AM PST 

Ad Type
City
Scheme
Phase
Block
Plot
Size
For Sale
Lahore
DHA
9 Prism
Q
76
1 kanal
please evaluate.this is corner but triangular plot and expected more than one kanal area.should i sell this and buy a better dimension plot in Q block or is it advisable to move some other area or other block eg A block?

AHMAD HASSAN® replied on Wednesday, June 15, 2016 02:25 PM PST 

You will get profit after some constructions activity. Wait for Badian road widening project to complete.

Tariq replied on Wednesday, June 15, 2016 05:27 PM PST 

awaiting expert opinion LRE please.

LRE® replied on Wednesday, June 15, 2016 05:44 PM PST 

Dear Tariq,

Prism near Q 76 can be sold around 65 to 70 lacs


SALMAN MAQSOOD
+923224009967
LAHORE REAL ESTATE
EMAIL:INFO@LREPK.COM
>
(74410)
Wednesday, June 15, 2016 05:10 AM PST 

Ad Type
City
Scheme
Phase
Block
Plot
Size
For Sale
Lahore
DHA
7
z1
497
1 kanal
please evaluate this plot.is this the best time to sell this plot or hold for another six months if substantive increase expected.thanks

LRE® replied on Wednesday, June 15, 2016 02:12 PM PST 

Dear Tariq Sb,

Phase 7 near Z1 497 is valued around 140 to 145 lacs

Sell This Plot.Choice Is Yours.

More Information Kindly
Contact


HASSAN RAZA
+923028449766
LAHORE REAL ESTATE
EMAIL:INFO@LREPK.COM
>
(74408)
Wednesday, June 15, 2016 01:55 AM PST 
>
(74406)
Tuesday, June 14, 2016 09:51 PM PST 
DHA Phase 9 Prism Development Charges Inst 1

Greetings,

Like to know about Development Charges.

1st Installment was due on feb 28th - still didn't paid as no one available to make payment on my behalf in Pakistan.

Now I am planning to make payment for first installment on my visit possibly in July.

Question - do i have to calculate surcharge amount and add it to development charges 1st installment demand draft or I will be able to settle the late penalty surchage at the end.

Thanks

Waji

Aseem Mumtaz replied on Wednesday, June 15, 2016 12:40 AM PST 

Dear Waji...better visit DHA Office and ask them to issue you Callahan for the no of installments you are intending to pay...payment would be made there and then at the bank booth available at DHA Office...better pay the coming installments in advance as well in case you can afford to avoid penalty in future....regards...

PM replied on Wednesday, June 15, 2016 01:22 AM PST 

Did you guys receive mails in Pakistan or where you are residing?

ShahzadQamar® replied on Wednesday, June 15, 2016 01:51 AM PST 

fine for late payment is almost 90 rupees per day for each installment delay = ~2700 per month for 1st installment

Waji® replied on Wednesday, June 15, 2016 06:27 AM PST 

For bahriantown Karachi I pay instalments only and for delay BT calculate delay surcharge for each instalment delay which I will settle in the end but not sure if it's the same case for DHA prism.

I got kanal plot in prism Q block. Haven't paid any development charges (first instalment was due on feb 28).

I will be paying three instalments to gather so like to know if it's only development charges I should pay now as single demand draft ??? and delay charges that will be calculated by Dha to be settled at the end????

LRE - Help will be appreciated.

KHOKHAR,USA replied on Wednesday, June 15, 2016 08:37 AM PST 

Dear Friends can any body mention the accurate address,email and detail of account where we can pay 5M installment directly from out side the country like USA
>
(74405)
Tuesday, June 14, 2016 09:05 PM PST 
PHASE8

Dear Khadim Hussain/LRE Team
You have put X652 in phase 8 @ 240. It is 100 feet road. I have plot X1099 in phase 8 @ 100 feet road. It mean it will same price like X652.

Can I put my plot through LRE X1099 @ 240. Please kindly advice? Thanks :h

LRE® replied on Wednesday, June 15, 2016 02:32 PM PST 

Dear Ahmed,

Phase 8 near X 1099 can be sold around 205 to 210 lacs

More Information Kindly
Contact


KHADIM HUSSAIN
+
LAHORE REAL ESTATE
EMAIL:INFO@LREPK.COM
>
(74404)
Tuesday, June 14, 2016 06:59 PM PST 
Property Tax

Ad Type
City
Dealing
Lahore
AOA,
Please explain and clarify the new TAX proposal by the Punjab Government on the residential/ commercial plots as suggested in the Provincial budget. Is this applicable on residential / commercial files also?
regards
zaheer
>
(74403)
Tuesday, June 14, 2016 06:08 PM PST 
CVT changes reported in today paper

Habib, I was not able to attach this file in the ongoing discussion. Please check this image for details.

User_16051® replied on Tuesday, June 14, 2016 06:52 PM PST 

"Qabza lene k 2 saal tak taameer nahi ki gayi"".... iska kya matlab... if one plot falls in posession area since more than two years but he didnt take formal possession of it then will he be taxed ??

AHMAD HASSAN® replied on Tuesday, June 14, 2016 08:04 PM PST 

Once upon a time a man raised a child horse. In the beginning, he really take care of it, but as Horse grown up it became difficult for him to care his Horse. So he hired a servant. But later he felt that horse is becoming very weak. He thought that his servant must not be an honest  so he hired another servant to monitor his first servant. Just a short time after his horse died. The man was very unhappy. he asked to his first servant cause of death. His servant told him that when you Lord were taking care of horse, you were feeding 100%. When I took the job, I ate half and half Horse. But the worst thing happened that you hired another servant. You tell yourself that what we eat and what we feed to horse. Before a fix amount was going to Govt account, but now GOVT put FBR in middle that means this horse will die soon.

Ahmad786® replied on Tuesday, June 14, 2016 08:39 PM PST 

Is hisab sey Raiwind Farm house per to koi tax na howa :)

FAA.awan replied on Tuesday, June 14, 2016 08:44 PM PST 

very nice comments.

Abdal® replied on Tuesday, June 14, 2016 09:35 PM PST 

Do not get panicked, I have read the Finance Bill 2016 and am of the view there is only marginal increase in tax which apparently will not be significant considering the market value of the properties. Let me reiterate these: 1) STAMP DUTY will be charged as the same existing rate @3%. The only difference is currently it was charged on the "amount of consideration" that is on the declared value of transaction with no minimum or maximum. Now, it will be levied on DC Rate / Valuation Tables. Practically, almost all the transactions were declared at DC rate but this amendment has removed any ambiguity if it existed. 2) Tax on Possession Plots wherein no construction done 2 years after original possession. It will have some impact depending on the rate / valuation table notified by the competent authority. 3) There has been cost impact regarding Sale / Purchase on Power of Attorney, which has been replaced from Rs 1,200 stamp duty to 2% of DC Rate. 4) Similarly, CVT on Power of ATtorney which was Rs 100 per square feet has been done away as it has already been covered under Stamp Duty of 2% of DC value. This is my understanding and can be discussed in a positive manner to have a better view.

Abdal® replied on Tuesday, June 14, 2016 09:51 PM PST 

I am reposting it as the earlier posting resulted in error message. Some times even after an error the post appears after some time. Seems to be an issue with the web/ hosting. Any way, shifting to the topic, advise is do not get panicked, I have read the Finance Bill 2016 and am of the view there is only marginal increase in tax which apparently will not be significant considering the market value of the properties. Let me reiterate these: 1) STAMP DUTY will be charged as the same existing rate @3%. The only difference is currently it was charged on the "amount of consideration" that is on the declared value of transaction with no minimum or maximum. Now, it will be levied on DC Rate / Valuation Tables. Practically, almost all the transactions were declared at DC rate but this amendment has removed any ambiguity if it existed. 2) Tax on Possession Plots wherein no construction done 2 years after original possession. It will have some impact depending on the rate / valuation table notified by the competent authority. 3) There has been cost impact regarding Sale / Purchase on Power of Attorney, which has been replaced from Rs 1,200 stamp duty to 2% of DC Rate. 4) Similarly, CVT on Power of ATtorney which was Rs 100 per square feet has been done away as it has already been covered under Stamp Duty of 2% of DC value. This is my understanding and can be discussed in a positive manner to have a better view.

Jameel Mughal® replied on Wednesday, June 15, 2016 12:01 AM PST 

I am Paying stamp at 3% for last 4,5 years may be rate was less in 1 to 5 Marla Category and they are equalizing, or it is taking about the agri or other Land which does not come in DC rate,
Already we are paying 2% CVT, 3 % Stamp and 2% advanced income Tax and 0.3% on all pay orders it is for last many years
The only new thing we may have to face is re valuation of DC rates which are Changed every 2,3 years
I am astonished many people are ignorant what they were paying

LOYAL PAKISTANI replied on Wednesday, June 15, 2016 12:21 AM PST 

We have to follow rules as in other countries are.

PM is trying hard for success of the country. Small people always think small and write as they are tamed by their parents.

Think optimistic and say thanks to Allah who has given us wealth respect n health.

Just Chill replied on Wednesday, June 15, 2016 01:34 AM PST 

yes Mr Loyal. Keep begging money from the whole world and keep dreaming of your respect.
We all know the worth of Pakistan is zero due to these begger leaders whose own families depend on West for living,money and safety.
They don't keep their kids n investment in Pak and ask us overseas people to invest here!
Still they have fools like u for their campaign. You r not loyal to Pakistan. You r biggest ghaddaar.

LOYAL PAKISTANI replied on Wednesday, June 15, 2016 01:52 AM PST 

We have no choice as Imran Khan is having his sons in Jews family just for the sake of ancestral huge millions of pounds.

PPP is ally of PTI and both rubbish. We need stability so need NS guidance n continuity for other 10 years.

Ithink you are treating me like you treat your real parents and brothers. So bad training not your fault like son like father and even rustic IK.

COUNTRY WILL INSHAALLAH UNDER THE LEADERSHIP OF ALL SHARIFS LIKE NAWAZ RAHIL & SHAHBAZ SHRARIF.

SO WAKE UP AND ACCEPT RESLITY
.

MIT® replied on Wednesday, June 15, 2016 03:06 AM PST 

Both of you (Loyal Pakistani & Just Chill)are posting your viewpoints unrestricted being unregistered users. Be brave to get listed with proper IDs, to be credible on this forum. Now while Just Chill has very valid arguments, he could have restrained personal attack on Loyal Pakistani, and it is equally shameful that Loyal Pakistani has done more damage to himself by talking in return so bad. Just Chill is correct as "Beggars are never Choosers".

Tajammal replied on Wednesday, June 15, 2016 04:11 AM PST 

Dear All,
A.O.A
Forget About 3% Stamp Duty. It is already same as well.

Attention:
Government of Pakistan has imposed Advance With Holding Tax on Property Transaction at the following Rates.

Filler 2% (Above and Equal the Property Worth Rs. 3.0 million)
Non-Filler 4% (Above and Equal the Property Worth Rs. 3.0 million)

Its mean Transfer Charges of Any Phase has been Increased upto Rs. 100,000/- (minimum) for filer and Rs. 200,000/- (minimum) for Non-Filer. On the property Worth equal and above Rs. 3,000,000/- (3-Million) i.e 1-Kanal Plots (In Some Phases 10-Marla also).

2% and 4% Advance With Holding Tax in Addition to Already applicable Withholding tax. And the Zero rated withholding tax limit has also been enhanced up to 5 years.

10% Capital Gain Tax already paying the property holders to the Government.

This will effect the real estate sector badly.
and I think in all the phases the property rates will drop upto 15 to 20% minimum. (So be Careful).

Kureshi® replied on Wednesday, June 15, 2016 04:48 AM PST 

Abdal sb and Jamil sb, thank you for insightful comments. Please keep us postedbon this matter as you seem to have good command on this subject

humayun replied on Wednesday, June 15, 2016 07:51 AM PST 

Plz tell what are taxes for seller? Regards.

Ahmad786® replied on Wednesday, June 15, 2016 12:29 PM PST 

If PM and his kids are paying taxes happily then I am glad to do so. They invest abroad and in off shores but ask for tax even on empty plots just because I donot have enough money to build house there.

AhmetKildir® replied on Wednesday, June 15, 2016 02:51 PM PST 

I don't mind paying taxes. But paying taxes in Pakistan is so painful as you know the money is going to Jeddah or Panama. I love paying zakat though as I know it's actually going to a needy end user.

Khan replied on Saturday, June 18, 2016 12:15 AM PST 

We have been discussing taxes levied on property but no voice has been raised on the bribe given to sub-registrar & Tehsildar/Patwari in getting registration of sale deed and getting copy of mutation. The bribe these people charge rather extort is on a higher side. It's seems we have become immune to this bribeism & we don't mind paying but we raise eye brows when we are forced to pay taxes. We must raise our voice to this corruption & try to discourage. Recently I'm undergoing the process of registration & forced to pay additional amount of bribe but if I resist not to pay bribe I will be subjected to various uncalled for issues.
>
(74401)
Tuesday, June 14, 2016 05:23 PM PST 
evaluation

Ad Type
City
Scheme
Phase
Block
For Sale
lahore
dha
9
oc
dear salman maqsood sb please evaluate the current market value of the prism plots OC 205 and OC 206 (4-marla commercial).I shall be grateful to you.

LRE® replied on Tuesday, June 14, 2016 07:33 PM PST 

Dear Saleem,

Prism OC near 205 is around 375 to 380 lacs

Prism OC near 206 can be sold around 375 to 380 lacs


SALMAN MAQSOOD
+923224009967
LAHORE REAL ESTATE
EMAIL:INFO@LREPK.COM
>
(74399)
Tuesday, June 14, 2016 04:55 PM PST 
LOCATION OF On ground 7 Marla Plot (ON INSTALLMENT) Vs File

Ad Type
City
Scheme
Size
Wanted
Lahore
LakeCity
7 Marla
RE: LOCATION OF on ground balloted Plot (ON INSTALLMENT) Vs File (ON INSTALLMENT) of 5 or 7 Marla

Salam and hope you are all enjoying blessing month of Ramadhan.

I'm talking about Installment plots only here.

I have a query if any expert can throw light which one has better location between of 7 Marla Plots and could expect more price appreciation in future.
Since there is slight difference of price between on ground plot and File, what do you think one has more room to grow due to its location.

For example if we take example of 7 marla On ground plots : 7 marla (56 lac including development charges) whereas File for 7 Marla (41.90 lac without development charges of 7 lacs so if we include, it would be approx 49 lac) so difference is 7 lacs between on ground and on File.

Does it worth to take risk of buying 7 marla File if its location would be better than on ground 7 marla plot or location would be more or less same as of on ground plot and File in future for 7 marla?

Please add anything you can think of what I'm missing here while comparison.

I would really appreciate your feedback to make my mind to buy on ground plot or File.

Thanks and best regards.

HassanHC® replied on Wednesday, June 15, 2016 03:55 AM PST 

If you have money always buy on ground and possession plot as they will have zero risk. rest if short of budget go for installments.

Personally speaking
location will be more or less same if not better.

If have money buy ready plot its a no brainer.

Adnan replied on Wednesday, June 15, 2016 07:06 PM PST 

RedHat:

On Ground/Possession is always better than installment file (No Risk of slow development/possession delayed and ready to construct home) and these investments always returns much higher than installment file.

After HassanHC opinion, no need of any further advice he is Gurru.
>
(74397)
Tuesday, June 14, 2016 04:28 PM PST 
Phase 7 CCA 1 Q block

Ad Type
City
Scheme
Phase
Block
Plot
Size
For Sale
Lahore
DHA
7
Q
64
4 Marla
Dear LRE team and Salman can you please evaluate phase 7 CCA-1 commercial 4 Marla plot no 64? Thank you

LRE® replied on Tuesday, June 14, 2016 07:49 PM PST 

Dear Sir,

Phase 7 CCA-1 near 64 is around 4 crore


SALMAN MAQSOOD
+923224009967
LAHORE REAL ESTATE
EMAIL:INFO@LREPK.COM
>
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