CONFUSION ABOUT FEDERAL RATES,

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There are many questions connected to new Law and will be practical problems in if not addressed properly

These are many questions Connected to
1. DC Rate was By Govt of Punjab, People were not Fixing it will this abolish altogether why it cant be reformed

2. DC rate is is already about 60% of Market Value in stable areas only in areas with recent gains it is low and that is negligence of Govt not of people.

3. In Hyped Market or Slump period Market are too Dynamic, Moving in weeks Up and Down that is why previously margin was there in DC rate To accommodate bad location and areas just out of Boundary of societies how they can make this mechanism so dynamic,

4. When we Buy a property we make an estimate of buying price, then taxes etc which are Fixed at what stage valuation of property will be done by Tax authorities, Can seller get it fore hand and for How many days it will be valid?

5. Regarding source of white money when we have to prove it? Like I purchased a plot and went to USA how I know at what time FBR will come into action and will send me notice? and how can I present may case staying abroad? Corrupt officials will use this handicap for earning hefty bribe and overseas investment in real estate sector will be discouraged. Will the Govt make it possible to do all these formalities before Purchase.

Looks that people who are implementing this Law or commenting on it, either don't know the basics that these rates are fixed by Govt not people so there is No Provision of under reporting the sale purchase value.
May be it is war between Feral And Provincial Govts and Fedral Govt is Not happy about DC rates, I am not sure may be these rates are too low in other provinces that is why Fedral Govt want to come into action. May be fedral Govt want to hire third party to Fix values not as per DC rate but FEDERAL RATE, If that happen that almost nothing will change in Lahore at least where already DC rate is High. And next month We will be referring to FEDERAL RATE in place of DC rate

I myself believe and real estate agents know that 90% buyers are overseas and have white money. That Balck Mafia which public referring to is Just small fraction or biana Investors who pay 5 Lac on Kacha Biana paper to trade and get money out of deals, I have never seen Any Blackia transferred 100s of Plots in his name legally, Maximum they buy Affidavit file or gamble in Open file business or illegal societies. How they will Escape in this system
How this valuation will help to calculate gains when no documentation of sale deed is registered for Last many years and DC rate was Black bone of System.

Coming days will answer these questions.