Real estate

 The Capital Development Authority (CDA) is contemplating to revive the 1996 Land Acquisition Policy in order to compensate owners of Built up Property (BuP), constructed on land falling in Sectors C-15 and C-16.

The 1996 Land Acquisition Policy was given by then PPP government according to which landowners with 300 square feet established structure are to be compensated with a 138 square yard plot while land owners with construction area of 500 square feet are entitled to get 233 square yard plot.Read More »Islamabad sectors C-15 and 16 to be launched soon

 By Syed Danish Husain (nation.com.pk)

In a strange ‘coincidence’, the big guns of Pakistan’s diaspora comprising the mighty lot of journalists, politicians, parliamentarians, bureaucrats, ruling elites and their near and dear ones have interestingly grabbed lucrative plots located at the prime locations during the ‘fixed’ balloting of a housing project called Park Enclave.
It happened just recently when, to the pleasant surprise of the influential elite, it so transpired that the ‘lucky winners’ and beneficiaries of the CDA’s so-called balloting for Pak Enclave, its much hyped housing society, happened to be all the powerful individuals.
On the other hand, uninfluential common and overseas Pakistanis, who contributed billions of rupees to the national exchequer, thanks to their hard earned money, were allotted plots in ‘slum like’ areas mostly located along a 60-foot wide seasonal nullah runs through the middle of the proposed locality, the Park Enclave.Read More »Bigwig? Get a plot of choice in Islamabad

Federal Board of Revenue (FBR) has clarified since Capital Gains Tax (CGT) ranging between 5 percent to 10 percent has been imposed only on disposal of properties held for a period up to two years therefore, advance tax at the rate of 0.5 percent is also to be collected from sellers who held the immoveable properties for a period up to two years.

Capital gains on immovable property: Prior to the 18th Constitutional Amendments effective from April 19, 2010 entry 50 of the Federal Legislative List contained in Part-I of the Fourth Schedule to the Constitution of Islamic Republic of Pakistan empowered the Federal Legislature to levy taxes on the capital value of the assets, not including taxes on capital gains on-3-immoveable property. The words ‘on capital gains’ were Read More »ISLAMABAD: Sellers of immoveable property to pay 0.5% advance tax, besides CGT

FBR introduces IT-5 form for immovable property sellers

* Buyers, sellers will be required to pay

* 0.5 percent WHT on sale of immovable property

By Sajid Chaudhry (Daily Times)

The Federal Board of Revenue (FBR) has made it mandatory for the sellers of immovable property including plots, flats, buildings, agricultural land, etc, to ensure submission of income tax (IT) -5 return form to provincial registration authorities along with the registration documents upon sale or transfer of the immovable property.
Read More »ISLAMABAD: Documenting real estate transactions

Securities and Exchange Commission of Pakistan (SECP) has started examination and sought further details of accounts from the Bahria Town for examination after concerns were raised about the operations of the company. An official source… Read More »ISLAMABAD: SECP starts examination of Bahria Town accounts

The Capital Development Authority (CDA) will open tenders for the development of the dream-housing scheme, called Park Enclave on Monday next. To begin with, the Authority will start the construction of a boundary wall and… Read More »Islamabad: Dream scheme nearing reality