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Status of CVT on property,

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   MM
Monday, June 14, 2010 05:00 AM 
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Dear CMY and other experts
Please let us know the status of CVT on the property.
LRE replied on Monday, June 14, 2010 06:36 AM 

CVT will be reduced from July 1st 2010 to 2% from current rate 4% and will be helpful for property market. But lets wait for it to get approved from Punjab Govt because this tax will now be collected by Punjab Govt.
Habib replied on Monday, June 14, 2010 07:12 AM 

That sound good news for one Kanal Buyers, But I also heard that 2% CVT tax will be imposed on plots less than one Kanal, And possbly DC tates [Rates fixed by Govt area wise] will also be revised and be increased 25 to 33%
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