Jameel Mughal sb. is right, there is no clarity whether 2% of the recorded value or 4% of the recorded value will be charged. Let the details come to us.
MR NT
you are right currently we are paying 2% within first year and 1% within 2 years
No one calculates actual GAINS in property for taxation purposes. Its all fixed and handled by the dealer and it is ALL LEGAL.
ALL in ALL we will have to pay little higher taxes when we sell or purchase a property. On the other Hand Property is the most lucrative business in Lahore as of now. Everything you do is legal, safe, and you pay your taxes. A very clean business compared with other business opportunities in Pakistan ( which are rare now a days )
As an investor i am looking at my gains at the end of the day. I don't care what i have to pay to the government or the society or the commissions etc etc. As long as i am making money i am willing to pay taxes and all other expenses attached with sale/purchase of property.
As an ordinary man i will be looking towards safe property transactions where my money is safe and secured and eventually will gain over a period of time. I will not worry about taxes or
transfer fee or commissions.
Buying property have always been a safe practice in our region, where there is house shortage and people are moving from joint family to single family system at very fast speed.
Don't worry about TAXES on property. Lahore is one of the few places in the world where property have been appreciating at astonishing rates.
In a long RUN property is going to be the KING. ( by long run i mean 10 years )