Jameel Mughal® replied on Saturday, July 30, 2016 02:21 PM
That is OK again for Long term Holders But Most of People who are
revolving here and there and help the property up beating Keep Less than 3 ys .
Another? 10%, 7.5% and %5 of what Difference of old DC and Fair market or Fair Market value?
Again I will say quick buying and selling is hall mark of any good Business and Economy does a lot of effort to keep this wheel revolving at fast pace, This will Cause slow down of Turn over. I don't know what Govt will be getting out of it.
Like If one Plot is Sold 3 times in Year Govt Gets a Lot of revenue, Housing society Gets and Dealers as well and Price appreciates, if You Force the people to Hold what benefit is Going to happen??
All 3 parties will get less revenue and only good thing that might Come is price will Come down a Bit as it will not be lucrative for business and hence end user may get some benefit.
In My opinion Govt should Come with more investor friendly Policies where turnover should be faster than Slower, Like making Processes faster, transparent and easier. If they are interested in CGT that should be %age of Fair market Value and should Not be 10,7.5 and 5 But reverse order 5, 7.5 and 10. This will encourage short term investors and sale and Purchase will Continue.
Due to all this education overseas People still have a Lot of Anxiety Conducting big transactions and Buying property, A Government Backed help cell should be there for legal and procedural support. And escrow should be introduced especially for the properties in pipeline.
Please refrain from any grata based Political comment and come up with better ideas |
