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Budget 2019-20 Pakistan Property Tax Amendments

BUDGET 2019-20 PAKISTAN PROPERTY TAX AMENDMENTS | How Budget 2019-20 will impact Pakistan Real Estate Sector:

On Tuesday 12 June 2019, the PTI Government presented its first historic budget. Taxes were increased for many sectors whereas others got relief. There are mixed opinions about the budget. But for Pakistan Real Estate Sector the Pakistan Budget 2019-20 is not less than a shock. This is because the budget appeared more friendly for genuine buyers than the sellers, investors or realtors. The government planned the budget will a vision to collect higher taxes from property sector where most black money is parked. Lets discuss “How Budget 2019-20 will impact Pakistan Real Estate Sector”.

PAKISTAN TAX AMENDMENTS ANNOUNCED IN BUDGET 2019-20:
Non-filers;

Non-filers have been allowed to buy property worth 5 Million PKR or more but;

A- Non-filer has to file returns within 45 days of the purchase of property.

B- Otherwise, within half an hour after the lapse of 45-day period, an automatic assessment will take place asking the purchaser to disclose the source of income.

C- In addition to that non-filer has to pay 5% amount of property price as penalty as per FBR Rate.

Purchase of Property Worth 5 Million PKR or More;

A- Anyone who buys property worth 5 Million PKR or More has to prove the source of income.

B- Anyone who buys property worth 5 Million PKR or More has to pay through Banks.

Capital Gain Tax for Empty Plots (CGT);

A- 100% profit amount/gain to be taxed if plot is sold within 1 year of purchase.

B- 75% profit amount or gain will be taxed if plot is sold within 8 years of purchase.

C- No taxes on profits if plots are sold after 8 years of purchase.

Capital Gain Tax for Constructed Property (CGT);

A- 100% profit amount to be taxed if constructed property is sold within 1 year of purchase.

B- 75% profit amount will be taxed if constructed property is sold within 4 years of purchase.

C- No taxes on profits if constructed property is sold after 4 years of purchase.

Formula to Calculate Capital Gain Tax (CGT);

Capital Gain or Profit will be treated as income and will be subject to normal income tax.

Withholding Tax (WHT);

A- Withholding Tax is decreased from 2% to 1% for filers. WHT will be collected as per FBR Property Valuation Rate.

B- Earlier there was no WHT on purchase of property if price was less than 4 Million PKR. But now WHT will be collected on all transactions.

C- Earlier there was no WHT if property was sold after three years of purchase. Now WHT will be collected up to 5 years. But if selling property after 5 years of purchase then no WHT.

FBR Property Valuation Rates;

FBR Property Valuation Rates will rise up to 85% market value.

HOW BUDGET 2019-20 WILL IMPACT PAKISTAN REAL ESTATE MARKET:
Dealers;

Realtors or Estate Agents are totally disappointed by the property tax amendments in the current budget. This is because realtors were expecting a relief for the property sector. Dealers wanted a decrease in FBR Rate and permission to buy property for non-filers. Yesterday many dealers told me that they haven’t paid rents and are planning the leave the businesses. Now more estate agents will close their agencies.

Investors;

In Pakistan real estate sector is not only famous to park the illegal money but also to earn quick bucks. But property tax amendments have been planned to tax the realty sector. Now investors have lost the charm as they have to hold the property for many years to avoid taxes. This has made realty sector less lucrative for investors. Therefore speculation will decrease.

Sellers;

Sellers are in bad condition now. Sellers have three concerns. Firstly, it is very difficult to find filer buyers. Secondly, they have to wait for years to sell properties otherwise they have to pay higher taxes. Thirdly, as real estate sector is less lucrative for investors so it will be hard for sellers to buy buyers. In other words properties will take more time before changing hands.

Genuine Buyers;

Genuine Buyers with white money are the real winners of budget. Firstly, they will pay less taxes on the purchase of immovable properties. Secondly, due to more properties in the market than buyers, genuine buyers have more options to select from. Thirdly, genuine buyers will purchase properties at big discounts as new property tax amendments are enough to reduce the prices.

Future Price Trends;

Property Prices in Pakistan peaked in 2016. Since then prices are in constant decline. Property prices are already 35-40% down from peak of 2016. The new property tax amendments will reduce the volume of investment in real estate sector so prices will keep decreasing. It is expected that prices will decrease by 35-40% from current level. This is normal in a crashing market as Dubai property prices are already 75% down from peak of 2008.

Recommended:
Pakistan Tax Amnesty Scheme 2019

64 Comments

  1. Kashif

    on said  

    No doubt every will have to become a filer.
    I someone buys property worth one crore and he will have to pay a with holding tax of one Lac and if sells with in first year for one crore twenty lac, on profit of 20 lac he has to pay 5 percent within first year which is one Lac and person has already paid one Lac with holding so no need to pay additional tax .
    Is that true

    Reply
  2. Shamim Osman

    on said  

    Pakistan Real Estate Market was doing very well and the people who were making real money were the Brokers and Dealers, these people used to sell Property to one another without even having documents and escalated the prices and earn good Profits. Now this game is over and the Almighty Allah will punish those who have manipulated this Helal Business. Bravo to Imran Khan for taking this bold step!!!!

    Reply
  3. Shabeena Ali

    on said  

    Dear Anwaar ul Islam
    I am dual national living in States. Bought a Kanal plot in DHA Islamabad back in 2016.
    Many American Pakistanis have also invested in Pakistan real estate.
    They discuss that they have lost big bucks as they wrongly invested in Pakistan.
    Please explain why we have lost money while investing in Pakistan Real Estate Sector.
    Whereas common perception is that property prices always increase in Pakistan.

    Reply
    • Things will be good after some time when the dollar will settle. The effect of devaluation will be absorbed by property market accordingly.

      That is to say, there will be a 60 percent increase in the property market after the dollar settle.

      People are now investing in dollars. When the dollar price will settle these dollars will come back to property and the property price will increase the same ratio that rupee devalued.

      Do not panic in this situation. Just relax and wait.

      Reply
      • rizwan

        on said  

        lol acha …. sahi chuna laga rahay hain brokers aam public ko….property k liyay buyer he nai hai in current situation…ab investor ka kaam khatam ….satta he prices barha raha tha not anymore…prices will crash around 40 to 50 % soon n ppl investing in property will loose big

        Reply
  4. Shahzad

    on said  

    According this rules, slow real estate transaction, because investor, seller and buyers market position and upcoming government amendment and taken action in few months.

    Reply
  5. rizwan

    on said  

    PROPERTY DEALERS HAVE ANNOUNCED PROTEST AFTER 1ST JULY…HAN TU BHAI JO LOG KEH RAHAY THAY AB PROPERTY TEZ HOGI TU PHR PROTEST KIS CHEEZ KA KER RAHAY HO??? PROPERTY IS GOING TO CRASH IN SHA ALLAH TAB HE SAB PROPERTY MAFIA KI CHEEKAIN NIKALNA SHURU HOGAYEE HAIN…. DEFCLAREA JO PAKISTAN KI BIGGEST REAL ESTATE BROKERS KI ASSOCIATION HAI HAS ANNOUNCED PROTEST AFTER 1ST JULY …. BHAI PROPERTY TEZ HORAHI HAI TU CHEEKHAIN KIUN MAAR RAHAY HO…IN SHA ALLAH HARD CRASH HOGA AND REAL VALUES PER PROPERTY AYGI AB

    Reply
    • Rizwan
      Dealers in Lahore will protest before Punjab Assembly. But most dealers say that it will be without any results.
      Dealers protest is a clear indication that property prices are in decline.

      Reply
      • M ANWAR

        on said  

        no, no, no, totally wrong, i talked to a dealer, he said that prices will go high. He said that property owner will increase the price so that he can also draw the amount of taxes from the buyer and this will increase the prices.

        Reply
          • Muhammad azeem uddin

            on said  

            Dear Maliksb,
            Dealers are protesting not investor .
            See who have make money? It is INVESTOR, dealers are just getting commission 1%.

            Investor are enjoying having drinks and Beaches. They don’t care , because they get SURPRISE return of their investment , you can say DREAM RETURN.

            As you think investor I Adila jail, the check it what have recovered from them. However I think economy melt down PKR reaches 158 and I am hearing sound continue its journey 175.

            Whereas question of Real estate prices ,,, A gambling market no one can predict it. Because those hold gambling system they know when the market will crash. This formula also apply stock market.

          • Muhammad Azeem Uddin
            So you have no idea about real estate market, dealers and investors.
            70% investors are dealers and their relatives.
            Hope you understand why dealers are in panic and want to stage protests.

          • rizwan

            on said  

            M.AZZEMUDDIN BHAI DEALER HE INVESTOR HAI….ZIADAA TAR AB BROKER KHUDH INVESTOR BANA WA HAI TABHI TU UN KI CHEEKAIN NIKAL RAHI HAIN…UNKO INVESTMENT DOOBTAY HUAY NAZAR ARAHI HAI….PRICES WILL FALL IN SHA ALLAH….SPECIALLY PLOTS KI

        • rizwan

          on said  

          lol….bhai koi logic ki baat dealer keray tu banda apna view b change kerain ..ap dealer change kerlo bhai bewakoof bana raha hai apko dealer… itna he ziada profit honay ja raha hai tu protest kis cheez ka ker rahay hain dealers lollzz…bhai koi dealer ko bolo itna profit hai tu protest kiun ker rahay ho??

          Reply
          • muhamamd azeem uddin

            on said  

            Dear Rizwan bhai,

            kindly try to understand my point of views. one who have invest 25 crore on the year 2013-2014 and just four years i mean 2018 he sold out the property 100 crore and make profit 75 crore then why he will come in street for protest.

            at karachi one of my friend who invest Askari 4 karachi bunglow 500 sqyard , he buy it 2.25 crore at 2013 and sold out 9 crore at the year 2018. so why this guy will go street for protest.

            Rizwan bhai believe me i know many person who make dream profit , no body can make money in the whole world so quick as they make money in real estate , and really they are now busy in Thailand.

            where as question either real estate will go down or not, Rizwan bhai genuine buyer will buy only one or two ,, and he does not care about the things, he care and believe on Allah, because he think that Allah is the best provider. When Allah will mercy upon him he will able to buy.

            Everyone has their own believe but it is my believe .

          • And value of 9 crore lost its 60% value as dollar depreciate almost 60% from 2013. So govt is real winner here unless that 9 crore was converted into dollar or gold at that time.
            Cheers

  6. Malik sahib,
    How does this budget will affect those who bought property in Bahria karachi or DHA . I mean if the property installment is in process or completely paid installment but yet not handover, will these new tariffs or conditions be applicable to them.
    What about those non filers ( non resident) who invested four year ago but property is not handed over yet. Will there be any problem for them. Please advise thx

    Reply
    • Muhammad azeem uddin

      on said  

      Dear Ahmed,

      If you buy any property on 100% cash or installment you must show in tax return. It was old law. It means govt would know from where you have earn money I mean your income.

      Now if a person is filer and not show in return then it is problem for him.

      If a person is non filer and then FBR must ask question source if income , and he will be automatic filer. Whereas question of penalty, it would better suggest lawyer

      Reply
  7. DHA Lahore Dealer

    on said  

    What a stupid budget by Imran Khan and shabbar Zaidi. The government is responsible for the destruction of property market.
    Saf Saf Kaho Ke Ha Ne Bera ghark karna Ha Real Estate Ka.
    On tv shows, websites and offices everyone says that property prices to fall 50%.
    Shabar zaidi tu Ishaq dar se bhe bara chir nikla. Ham Dealers Ka Business Khatam Kar Dya.
    When there are no buyers in the market what we dealers will do.
    End of golden days for property market.
    Bera Ghark Ho Imran Khan Or GHAR47 Ka.

    Reply
    • M ANWAR

      on said  

      Dear Bahi sb,
      in ISB, there is no down in prices.
      Prices are going high.
      Y u r so desperate.
      Pls give me reason with data.

      Reply
  8. Kh Qasim

    on said  

    Will Property valuation rates rise upto 85% of the market value immediately from 1st of July or step by step ? secondly how much DC rates are expected to rise from 1as July in Punjab

    Reply
    • Kh Qasim
      Yes both FBR Property Valuation Rates and DC Rates will go up by 85% of Market Value from 1 JULY 2019.
      DC RATE:
      DC Rate is for the registration of property and taxes collected are Stamp Duty collected by Provincial Governments.
      FBR RATE:
      FBR Rate is for collecting Capital Gain Tax and Withholding Tax by Federal Government.

      Reply
      • rizwan

        on said  

        kia punjab and sindh nay budget main announce kia hai k dc rate barhanay lagay hain in line to fbr rate?? plz clarify anwaar bhai

        Reply
        • Rizwan
          Yes and Punjab Government is planning to increase stamp duty.
          One thing is sure from past practices that all provincial rates are the reflection of federal rates. In other words DC Rates follow FBR Rates.

          Reply
  9. adnan shaih

    on said  

    Kuch nahi ho ga or koi property market crash nahi ho gi……pora system corrupt hai FBR khas tor se ..ye log koi na koi tariqa dhoond le ge again tax chori ka jaise PTI government ne mobile import per tax lagaya tha ke lekin logo ka data hi chori hone laga or mein last month jab family ko le kar wapis pakistan aya or mien ne ek new mobile registar karwana chaha to pata chala ke mein already ye facility use kar chuka hon means mera data chori ho chuka tha or meri pori family ke passports per mobile register ho chuke the .. khair bhai ye pakistan hai koi na koi chor rasta nikal le ge ye hi FBR wale…

    Reply
    • Adnan Shaikh
      Issue is that government want to tax property sector so investment is diverted to stocks or share.
      This is why CGT Duration has been increased to 10 years.
      At the same time property valuation rate raised up to 85% of market value.
      Market can crash more than our expectations so we should be ready.
      The dealers are so disappointed by the budget that they have lost all hopes of market recovery. Most claim that they will start switching to other professions.

      Reply
    • rizwan

      on said  

      adnan bhai thora sabar rekhain in sha Allah agar yeh sab implement hogaya tu achay acho ko pata lag jayga property kaisay crash kerti hai….buhat arsa hogaya un natural inflated prices ka….her cheez ko zawal ata hai….in sha ALLAh yeh bubble bhi burst hoga artificial prices ka

      Reply
  10. Kashif

    on said  

    So what can we expect in DHA Peshawar …. Black money there Vs rapid development

    Dha Multan … Budget impact Vs impact of balloting

    What can we expect in these two DHA 6 months later

    Reply
    • Ayesha Rehman

      on said  

      Kashif sb property prices Girain Ge. Kunke High Gain Tax Ke Wajha Se Koi Inveat Ke Nahin Kare Ga.
      Log Ab Stocks shares Kharidaon Ge.
      Aik or Bat. Ab Koi Faida nahin Black Money Se Property Lena Ka. Kunke 15 Days Main Non filer Ko Filer Banana Pare Ga.
      Gitne Galdi Ho Sake DHA Peshawar or DHA Multan Ke Files sell Kar Go Chahe Nuqsan hon. Warna Future Main Bara Nuqsan Ho Ga.

      Reply
      • rizwan

        on said  

        u r absolutely right….property will crash fast in sha Allah….ab satta and black money sara niklayga property main say and main buyer he black money tha jis nay unreal inflated prices kerdi the…ab sab kaala paisa kahin aur lay ker jaingay property specially plots will crash in sha Allah….

        Reply
  11. Ayesha Rehman

    on said  

    GHAR47 Team Kamal Kia Ap Ne. Your analysis is always accurate.
    Kahan Gayeb Hain woh Log Go Kehte The Property Kabhi Neeche Nahin Aye Ge.
    Dealers Ke Chekhain
    Satta Bazoon Ke Chekhain
    Now an ordinary person can dream to buy home.
    Thanks Imran Khan for crashing property market by destroying property mafia.

    Reply
    • Ayesha Rehman
      These all measure are taken due to the pressure of FATF to regularize the economy.
      Now International Community has zero tolerance for shadow or black economy.
      Advantages;
      Pakistan black economy will end
      Pakistan real economy will grow
      SATTA BAZI will end
      Speculation will end
      Day trading will end
      Property prices will massively decrease
      Common people will be able to buy properties for living
      A WIN WIN SITUATION FOR GENUINE BUYERS. WORST BUDGET FOR PROPERTY MAFIA.

      Reply
    • Kashif

      on said  

      So what timline and corrections can we expect in DHA Peshawar in next 6 months. Will it be worst hit DHA, because of high number of investors there with black money or it will continue going like this because of rapid development work.
      And what will be the impact on DHA Multan, since it’s file prices are rising against all odds because of upcoming ballot.

      Reply
      • Ayesha Rehman

        on said  

        Kashif sb DHA Market is based on pure hype called speculation. I know people who are desperate to sell files of DHA Multan and DHA Peshawar.
        One of my family member is estate agent working in Phase 7 DHA Karachi.
        When budget was announced he sold his 3 plots and told us that he is lucky because in future prices will crash harder.
        In December you will see low property prices across Pakistan as compared to today.
        Lucky are those who will see now.

        Reply
        • Shahzad

          on said  

          I m going to mark december… but at tge same time i m 100% sure there will not be any property crash the time period u given. I m following this page from last 2 years and i have heard many times after this and after that but that after never came upto now…. your analysis may be correct but the mafia or people behind this they can find their ways to resist all these situations or they can find hidden ways to save their investments.
          I wish and i hope that property market will crash but it is not as much simple as u all are hoping.

          Reply
  12. Muhammad azeem uddin

    on said  

    Dear Malik sb,

    Dealers are frustrate and in panic because they depend on commission, volume of sale , purchase.

    Whereas investor they are busy Drinks and Beach.

    During last four years if they invest 25 crore now they have 100 crore , with out paying sales tax, sales tax summer monthly, social security tax, old age benefits.They are enjoying by the grace of God.

    Whereas question majority middle class and poor , they have to pay taxes if their salary more than 50,000. Monthly.

    If a plot have to available at Karachi gas, electricity, water line the price minimum 5 Million. Average salary 40,000 t0 60000. So is it possible this person can buy it.

    So who is customer : The main investor of this plot who is earning 50,000 daily. Now kindly look and see this kind of people. Hope you have understand.

    I will be very happy if readers have started pleasure words that they got plot for their own use 2 Million just 120 sq yard.

    Whatever the govt comes face are become same however Slowgun changed. And LIAR box always make mind and appreciate that just everything’s will changed and people are one step become prosperous.That is why ANCHER getting salary 4 million.

    Whereas question for price of plot , you are here and I am also, LETS SEE , but if dollar reaches 180 then it should not count plot depreciated because my Nation are getting their salary PKR.

    Lastly MALIK SB, dont give false hope to the reader , as you become very optimistic Naya Pakistan housing scheme will eliminate property prices ,, though you know the govt position, and it is just a joke and nothing else.it is quite same 1 crore job.

    Reply
    • rizwan

      on said  

      meray bhai i have a voice recording of brokers meeting with shabbar zaidi regarding the new budget….and brokers puri koshish main hain k yeh sab reverse hojaye…but broker himself said shabbar ziadi sahab nai manay and he said prices ko market values k kareeb laya jayga…and when broker said k whatif prices neechay gir jaingee jo real prices hain tu shabbar said k main 2 rakat shukaranay k nafal perhonga jab price giraygiii….sirf kuch hadh tak purani khareedi hui properties per releif diya jayga shayad but new buying and trading bilkul band hojaige….shabbar said k hum trading k khilaf hain hum trading nai honay dengay only jisnay ghar banana hai woh plot lay….

      anwaar bhai if u have any whatsapp no i can share u the recording

      Reply
    • rizwan

      on said  

      azeem bhai apka bhi koi watsapp num hai tu i can send u the recording…ALLAH say dua kerain k prices gir jayeen …disheart honay say koi faida nai

      Reply
  13. Muhammad azeem uddin

    on said  

    Dear Malik so,

    Your point of vews regarding price crash is according to economic laws, but I am sorry to say that I did not agree that in Pakistan their is price crash in real estate sector.

    The reason is that
    1) people are very eager to invest money in real estate, mostly have their own money not borrowing so they dont care about interest rate and any hurry to sold out property

    2) The return in real estate during last four years is unbelievable, so all real estate businessman and investor have fain a lot, so they dont care any price fluctuations

    4) Mostly investor have black money holder so now they are busy long driving, travelling , swimming in beach. Their mind is let’s wait and see.

    5) Amesty is failed because they think their is lost of time for another amnesty, so no need for it.

    6) Mostly political influenced people have their major investments and business REAL ESTATE,, so all rules and regulstion favors for them.

    CONCLUSION : PRICE CRASH will be same as people are hoping NAYA HOUSING SCHEME ,, I mean it is DREAM and it comes only when a person SLEEP.

    Reply
      • Dear Anwaar Sb

        I am reading this kind of comments from years but nothing happened. The same were comments two years ago that property dealers left their business. The property dealers are intact in business. You can safely say that their profits decreased.

        I think you are giving hope to people just to increase the traffic to your website. The ground reality is different.

        Also, when the stability will come in market and dollar will stop growing, all the property prices will increase the same ratio as the dollar increased. This might take a couple of years.

        Today investor is just investing in dollars and foreign currencies as an investor only need profitable area to invest.

        There was a time when investors were investing in plots, cars, and the stock market. This is a cycle.

        Reply
        • Fraz
          I am not giving hope to anyone and even not creating hype.
          This is reality of market.
          I have met many dealers in last days and all are very disappointed.
          What I have written is what dealers think about the future of the market.
          Volume will decrease.
          Speculation will decrease.
          Prices will fall sharply.
          These are things what every one says in the market about the impacts of Budget 2019-20 on Pakistan Real Estate MARKET.

          Reply
      • M ANWAR

        on said  

        Dear sir,
        can u support ur answer with some data year wise.
        All ur comments are good but lack of data.
        Ur comments can not be correlated with real market

        Reply
  14. Faraz-uz-Zafar

    on said  

    Seller do not need a filer buyer, as non-Filer restriction has been abolished. So I do not see any reason for the crash of real estate market. If government was really interested in bringing down the real estate market to the affordability level of a common man, it would have penalized the property hoarders. Which is not a case to date. Truly speaking the faith in the Naya Pakistan is diminishing with each passing day. Regards.

    Reply
      • Faraz-uz-Zafar

        on said  

        Non-Filers can buy property, however his source of income will be assessed. Means the FBR person will be in authority to assess. The same under table game may prevail with slight hindrance.

        The machinery that exist to catch the wealthier to tax doesn’t work in our country.

        Last year a law was passed that without completion plan no property will be transferred. However it is being grossly transferred to date with some extra bucks.

        So again I would say that faith in Naya Pakistan is diminishing with each passing day. Regards.

        Reply
        • Faraz-uz-Zafar
          As appeared in Pakistan Today.

          Federal Board of Revenue (FBR) has strongly refuted the news appearing in some sections of the press which states that the new finance bill has allowed the non-filers to purchase immovable property or cars.

          “The actual position is that the whole system of recognizing a non-filer as a legal entity has been done away with in the new finance bill.”

          FBR has explained that under the Income Tax Ordinance, every person earning taxable income ought to file his income tax return. In case of failure of filing of returns by persons involved in significant monetary transactions, a complete mechanism has been provided in the newly-inserted 10th schedule. Such persons will not only have to pay 100pc more tax at withholding stage but will also be automatically assessed to tax and his/her imputable income will be treated as concealed income liable to penalties and prosecution.

          Reply
          • CASE OF NON FILERS EXPLAINED BY FINANCE ADVISER:

            Non-filers have been allowed to buy property worth 5 Million or More.
            Non filers have to file returns within 45 days of purchasing property.
            Otherwise, within half an hour after the lapse of 45-day period, an automatic assessment will take place asking the purchaser to disclose the source of income.
            In addition to that non filer has to pay 5% amount of property price as penalty as per FBR Rate.
            Anyone who buys property worth 5 Million PKR or More has to prove the source of income.
            Anyone who buys property worth 5 Million PKR or More has to pay through Banks.

          • Rizwan
            Dealers are in panic.
            This budget has broken the back of property mafia.
            So more surprises.
            IK has ordered across the board accountability in PAK. Simple question SOURCE OF INCOME.

          • rizwan

            on said  

            anwaar bhai yeh fbr valuation rates kab ayngay new walay?? in sha ALLAH lets hope prices will come to original level and there is a hard crash specially in plot as time period ab 10 saal kardiya hai plots ka….in sha Allah investment mafia and yeh broker mafia ab satta ker k prices asman par nai lija sakaygi…jo band property khareedayga ab phas jaiga as he will be asked source of income and secondly usko puray paisay white show kernay peraingay and heavy capital gain tax deyga agar trading ki koshish ki usnay tu

          • Rizwan
            FBR will issue new Valuation Rates by end of June or early July.
            Agree.
            Now no one speculate property prices.
            Prices will be only set by real demand which is very low.

    • rizwan

      on said  

      SECONDLY PLOT SATTA WILL BE FINISHED NOW…EVEN IF U HOLD PLOT FOR 10 YEARS EVEN THEN U WILL HAVE TO PAY GAIN TAX AS NORMAL TAX REGIME…PLOT WILL ONLY BE BOUGHT BY GENUINE BUYERS WHO WANT TO BUILD A HOUSE…MAJOR CRASH IN PLOTS IS COMING IN SHA ALLAH….NONFILER K LIYAY TRAP SET KI GAYE HAI…IF HE BUYS ANY PROPERTY THEN HE WILL BE SENT A NOTICE AND THE INCOME HE USED TO BUY PROPERTY WILL BE CONSIDERED CONCEALED INCOME AND HE WILL BE PROSECUTED IN COURT FOR IT ……TU BHAI NON FILER KHOLNAY KA KIA FAIDA HUA??MJAY BHE TU BATAYEN?? WHILE KINDLY READ LINK WHICH HAS BEEN SHARED THAT NON FILERS R NOT OPEN AS CLARIFIED BY FBR….SECONDLY HOARDERS HAVE BEEN PENALIZED AS 10 SAAL BHI PLOT HOARD KERLAIN PHR BHI GAIN TAX BHARAINGAY AND WILL BE ASKED SOURCE OF INCOME AS 3% WALA LAW BHI KHATAM HOGAYA HAI K DC AND FBR RATE K DIFFERENCE KA 3% JO BHAR K WHITE HOJATA THA AND SOURCE OF INCOME NAI POOCHA JATA THA WOH BHE KHATAM HOGAYA HAI…

      Reply
    • rizwan

      on said  

      EK AUR BAAT BHAI YEH BHI BATA DO K NONFILER MARKET VALUE K BARABAR WHITE KAHA SAY LAY KAR AYGA??? AS FBR RATED WILL BE INCREASED CLOSED TO MARKET RATES..MATLAB AGAR KHI DHA MAIN PLOT LENA HAI 500 YARDS KA TU MATLAB 8 CRORE RS WHITE CHAYAY….LOL BHAI KAUN BANDA 8 CRORE WHITE SHOW KARAYGA PLZ PUT SOME LIGHT

      Reply
    • rizwan

      on said  

      bhai apko koi doubt hai tu kindly watch kamran khan ka show on 13th june dunya news ka…kafi clear hojainge batain ….. property will crash in sha Allah

      Reply
      • Property price will crash but at the same time people buying power will also be crashed. In nut shell it is zero sum game provided if you already hedged your investment in gold or any other currencies.

        Reply
        • Ahmad

          BUDGET 2019-20 is disaster for property mafia but best for genuine buyers.

          PAKISTAN REAL ESTATE MARKET IS DOOMED:

          Here are the main reasons;
          1- Ruthless accountability process has started. Every citizen has to answer about the SOURCE OF INCOME
          2- Non filer issue as they have to show source of income
          3- Everyone who buys property worth 5 Million PKR or more has to show the source of income
          4- Heavy taxes if someone sells plots before 10 years of purchase or constructed property before 5 years of purchase
          5- Record high interest rate currently at 12.25% and will rise will the time
          6- Declining currency value
          7- Low investment in real estate sector

          All these factors point towards a hard real estate price crash. End of SATTA culture and daily speculation.

          Property prices will fall to a level never seen before in history of Pakistan.

          Reply
  15. AoA Sir
    What abput us foreign/dual nationals?
    Can we buy property above 50 Lakhs as we are not filers in Pakistan?

    Reply

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