RDA has warned the public against investing in “University Town” located near the New Islamabad Airport and has declared the purchase and sale of plots illegal. RDA has formally requested DC Rawalpindi through NADRA to block the CNIC of the owner and sponsor of University Town. Furthermore, DG RDA Kanza Murtaza has directed to impose a ban on the transfer, sale and purchase of land owned by the...
The Punjab government has imposed 16% sales tax on commercial property rent from July 1, 2025 under the Punjab Finance Act 2025. This tax will be applicable on all “fixed fee invoices” relating to the rent of immovable commercial property. Only residential houses rented out for personal residence are exempted from this tax. M. Tanveer, patron-in-chief of the United Business Group (UBG), has...
CDA declares 99 housing societies of Islamabad illegal, decides to put names owners on...
The Federal Board of Revenue (FBR) has placed hundreds of services into General Sales Tax (GST) in the Islamabad Capital Territory at the rate of 5 and 15 percent, reported in daily The News. For construction services 15pc tax will be charged, excluding: (i) construction projects (industrial and commercial) of the value (excluding actual and documented cost of land) not exceeding Rs50 million per...
Recently, the Punjab Board of Revenue instructed all sub-registrars, assistant directors of the Land Records Authority, and transferring officers to enforce penalty recovery on non-banking property transactions. According to a real estate insider, a 5% penalty is applicable under Section 75A of the Income Tax Ordinance, 2001, for purchases made outside the banking system if the fair market value of the...
The rates of the Capital Gains Tax (CGT) and Withholding Tax on immovable properties would be rationalized in the upcoming budget (2025-26) to facilitate buyers and sellers of real estate sector from July 1 2025, sources told daily Business Recorder. The rates of withholding tax would be reduced on the import of raw materials/inputs in federal budget (2025-26). The rates of withholding taxes would also...
Pakistan Telecommunication Company Limited (PTCL) has declared the sale of its prime property located on I.I. Chundrigarh Road in Karachi, adjacent to Jang Press, through a transparent and competitive bidding process. The 13,583-square-yard (approximately 27 kanal) plot, situated adjacent to Jang Press, boasts a corner location with a 500-foot frontage on I.I. Chundrigar Road. Given its prominent...
The LHC observed that absence of eligibility criteria which should ensure that the applicant had all the resources and expertise to be eligible for establishing the proposed housing society, as was reflecting in a number of cases, was being misused. The court, in written orders, stated that a person or a group of persons moved an application before the LDA and then misused its name for advertising and...
by Admin
The Capital Development Authority (CDA) will set up a dedicated building and housing control agency in Islamabad to address property-related complaints. The decision was taken in the seventh meeting of the CDA board chaired by Chairman Muhammad Ali Randhawa on Tuesday. To protect public investment, the board decided to publish the names of illegal housing societies on the CDA website and through media...
City managers have decided to start construction of a road to link Margalla Avenue with Islamabad-Peshawar Motorway (M1) as the demarcation of land has been carried out, Daily Dawn reported. Sources in CDA told Dawn that demarcation process of the road had been completed and soon and the Islamabad Capital Territory (ICT) revenue department would gear up efforts for land acquisition process. “Land...
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