Skip to content

Real estate

Pakistan Real estate news and information

Bigwig? Get a plot of choice in Islamabad

 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

Islamabad: CDA invites application from constructers for Park Enclave

The Capital Development Authority (CDA) has invited applications from competent construction firms for the infrastructure development project of Park Enclave.

Park Enclave project director of CDA said that interested and competent constructors from reputable companies/firms having successfully executed similar projects but not limited to design/construction of area development, road network, storm water drainage with rain water harvesting, waterRead More »Islamabad: CDA invites application from constructers for Park Enclave

ISLAMABAD: Sellers of immoveable property to pay 0.5% advance tax, besides CGT

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

Islamabad: Land mafia hinders inquiry of plot allotment in Sector I-14

Land mafia has been putting hindrance in the inquiry of fraudulent allotment of 20 plots in Sector I-14 of the federal capital.

 Capital Development Authority (CDA) sources said that the scandal was surfaced in April 2012 and affectees of Sector E-12 were allotted plots through fraud in Sector I-14 while CDA Board in 2009 had banned plot allotment to affectees of Sector E-12 unless they give the possession of land. Sources said that 18 out of the 20 affectees are from Sector E-12 while two are not from the said sector.Read More »Islamabad: Land mafia hinders inquiry of plot allotment in Sector I-14

Islamabad: Balloting of Park Enclave Housing Project held

 The Capital Development Authority (CDA) on Tuesday held the balloting of residential plots of the Park Enclave Housing Project. CDA Chairman Engineer Farkhand Iqbal conducted the balloting by punching the key of a computer at CDA Headquarters. A large number of allottees were present on the occasion.

As many as 613 residential plots were allotted through the computerised balloting. The CDA chairman, while addressing the ceremony, said that development work in the scheme would be completed as per commitment.
Read More »Islamabad: Balloting of Park Enclave Housing Project held

ISLAMABAD: Documenting real estate transactions

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

LAHORE: Stagnant real estate market drives away speculators

The News report by Mansoor Ahmad

 

The real estate market of the country is now dependent on high-end direct consumers and genuine long term investors as speculators have been eliminated from the current real estate market due to almost stagnant property rates.

 

The real estate players point out that the low and midsized property buyers are not left with consumable surpluses to go for house construction as due high inflation and doubled rates of construction material they cannot dream of planning a house of their own.

Read More »LAHORE: Stagnant real estate market drives away speculators

Development of stalled sectors of Islamabad to start in three months

Official says general public to be involved in future development of capital

The development of stalled sectors of Islamabad will be initiated within three months, Prime Minister’s Task Force on Islamabad Chairman Faisal Sakhi Butt said on Wednesday.

Addressing a reception organised by the traders’ welfare association of Sector F-10 Markaz, he said the task force was playing its role in bringing the people and the Capital Development Authority (CDA) on the same page to resolve their longstanding issues.Read More »Development of stalled sectors of Islamabad to start in three months