Lahore Real Estate Forum

Start NEW Topic Or Post Advertisment

                                                          
 
Back to Forum |

profit rates slashed by government !,

(52260)
   azam
Wednesday, April 1, 2009 03:27 AM 
Reply: >
Interest rates on national savings schemes have been slashed by the pakistan government! What would be its effect on the property market?

Respected viewers are requested to comment.
Ahmad Khan replied on Wednesday, April 1, 2009 04:42 AM 

Dear Azam,

It depends on the %age decline in rates.

My assumption will be that people will move money to (a) Stocks, (b) Property or (c) Gold.

So to answer you, chances of property going up are positive.
PK replied on Wednesday, April 1, 2009 05:09 AM 

There is no such news even if it is just 1.5 %
for property the government is preparing nice plans for imposing tax
and the rule of wealth tax will be enforced too.
at the time of registery one will have to provide copy of the last tax return or affidavit for any other source of income not just 10 rs stamp paper infact from the tax authorities as per the adress mentioned on the cnic.
government is not stupid and knows for sure how much prices have been taken up the capital gain will be on the tax net for sure.
Waqar Latif replied on Thursday, April 2, 2009 03:24 AM 

I try to find this news, but couldn't... but yes i heard they gonna drop soon.. but still 2% wont put a single penny difference.. since most of the investors already put there money in the national savings for 5 or more years, and also, even it dropped to 16% it wont make any difference at all on the attraction..

Ps: National Savings, or putting money in normal commercial bank is haram ..
Aamir replied on Friday, April 3, 2009 04:29 AM 

New rates
http://www.opfblog.com/7302/profit-rate-on-pakistan-national-saving-schemes-cut-by-15-from-1-apr-09/
>