Federal Board of Revenue (FBR) has said that every cash transaction worth Rs 2 million or above for the purpose of sale or purchase of property is required to be reported. According to a report by ARY News, FBR has issued guidelines for real estate agents (REAs) under the Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) regime brought in to meet the requirements of the Paris-based...
The Supreme Court directed the relevant authorities to end illegal occupation of state property across Sindh including Karachi. It further issued orders for the restoration of green belts, removal of encroachments from parks and playgrounds and ending the illegal occupation of land owned by the forest and irrigation departments across the province. The directive from a three-member bench headed by...
The National Accountability Bureau (NAB) on Tuesday approved filing of a reference against Ejaz Haroon, former chairman of the Pakistan International Airlines, Abdul Ghani Majeed of Omni Group and others in an accountability court for their alleged involvement in illegal allotment of plots in Overseas Cooperative Housing Society, Kidney Hills, Karachi. The decision was taken at a meeting of the...
National Accountability Bureau (NAB) Lahore in a ceremony distributed cheques worth Rs 730 million to the affectees of Ferozpur Housing Society and Model Housing Enclave. NAB Lahore Director General Shahzad Saleem was chief guest while senior officers of NAB and hundreds of affectees attended the ceremony. Addressing on the occasion, the DG NAB Lahore said the main objective of Bureau was to serve...
The SBCA has a proper e-portal system, which is linked to all the land owing agencies of Karachi. When the building plan of any plot comes to the Single Window Facility of SBCA for approval, the Authority wants the verification of its layout plan by the Master Plan Department (MPD) of the relevant land-owing agency along with the name of the person it has been allotted to. The MPD of the land owing...
Islamabad, a beautiful capital of Pakistan, along with Rawalpindi, a fourth largest city of Pakistan gives some exciting investment opportunities in the Property and Real Estate sector. Twin cities of Rawalpindi & Islamabad is surrounded with beautiful scenes and places. Head offices of many NMCs, Banks, along with Govt ministries are located here. It now has new Airport and longest route of...
Rawalpindi Development Authority (RDA) approved the feasibility study for construction of Metropolis (Metropolitan area) Zone along with New Islamabad Airport was also approved. This was decided at the 49th governing body meeting of Rawalpindi Development Authority (RDA) was held at the Conference Room here on Tuesday. Chairman RDA Tariq Mehmood Murtaza chaired the meeting. The Governing body...
Federal Board of Revenue (FBR) has made significant changes in the taxation of capital gains on disposal of immovable property of Pakistan. Amendment in the Income Tax Ordinance 2002, through the Finance Act 2020, reduces holding period and tax rates on different amounts for computation of capital gains on disposal of immovable property According to a Circular No. 3 issued on September 3, 2020 by...
The Board of Investment (BOI) launched a real estate portal for investors in line with Prime Minister's special interest in Ease of Doing Business in all sectors in Pakistan. The Board of Investment (BOI) has launched a portal for 'investment opportunities in Housing sector in on its website http://invest.gov.pk, with the objectives of facilitating foreign companies to invest in the low-cost housing...
Firstever E-Property Management System launched in Pakistan under Local Govt of KPK. Chief Minister Khyber Pakhtunkhwa Mahmood Khan has formally inaugurated the Electronic Property Management System (EPMS) of Local Government in order to ensure effective and efficient management of the commercial properties of the department and all its subordinate formations including Town Municipal Administrations and...
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