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

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Sunday, July 3, 2016 09:29 AM 

DHA Lahore New DC Rates

Phase 5 Old 49 new 70
Phase 6 Old 49 New 62
Phase 7 Old 42 New 58
Phase 8 Old 33 New 46
Phase 9 Old 20 New 34

Usama Javed® replied on Sunday, July 3, 2016 09:34 AM 

if SBP will evaluate properties from 1st july then why Dc rates have been revised? please comment

M Zahid® replied on Sunday, July 3, 2016 09:46 AM 

Usama,
DC rates are revised every year or so. There is no surprise in that as you can see market price is about 3 to 4 times higher.

SBP evaluation would be fraught with anomalies. It will be hard for an organisation to survey every area of the country to give rates. That mean equivalent of Patwar organisation or may be bigger organisation than that. How will the fix higher price while there are plots next to graveyard, nallah facing commercial etc.
Other scenario is that govt asks buyer seller to declare market value and refer sample cases to SBP evaluation team to verify the declared value. In case of under declaration penalties and fines etc.
Looks like more doors of corruption will open

MALIK® replied on Sunday, July 3, 2016 09:50 AM 

So many properties are bought and sold everyday how will they evaluate on a daily basis, it will be chaos , I think IMF should directly tell the people of Pakistan which rules to follow it will save alot of time.

User_3629® replied on Sunday, July 3, 2016 11:02 AM 

There will be no change in the methodology of collecting withholding advance taxes, stamp duty and CVT. All the above will be calculated on the basis of DC rates as being done currently.
The change has been brought in section 68 of income tax ordinance regarding Capital gains tax.
Therefore DC rates are required for calculation of advance income tax, stamp duty and CVT.
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