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Stamp duty discounts ends on 30 June & FBR evaluation property rates for FY 2020-21

The Punjab government recently shared the deadline for availing reduced stamp duty on property transfers. As per the government’s notification, the deadline of discount on stamp duty has been set for June 30. Previously, the government had announced a reduction in stamp duty from 5% to 1% that could be availed until the end of this fiscal year. The deadline for that falls on the end of this month. In...

CDWP approved ML1 project of 7.2 Billion USD for 2nd Phase of CPEC

CDWP approved ML1 project & recommended to ECNEC with cost 7.2 Bn USD in Phase 2 of CPEC سی ڈی ڈبلیو پی نے ایم ایل ون منصوبے کی منظوری دے دی سی ڈی ڈبلیو پی نے 7.20 ارب ڈالر کے ایم ایل ون منصوبے کی منظوری دیدی: عاصم سلیم باجوہ اب پاکستان میں بھی 350 کلومیٹر فی گھنٹہ کی...

Supreme Court to restore the KCR within a month and see the possibility of Tram service

The Supreme Court on Thursday ordered the removal of encroachments on railway land in 15 days and to restore the Karachi Circular Railway within a month. سپریم کو رٹ کا  کراچی میں ریلوے ٹریک پر قائم تجاوزات کو پندرہ روز میں ختم کرنےاورمتعلقہ حکام کو ایک ماہ کے اندر سرکلر اور لوکل ٹرین چلانے کا...

People of Karachi eyes on Sindh Govt for early revival of Karachi Circular Railway

Federal Minister for Pakistan Railways Sheikh Rasheed Ahmed said the Sindh government has neither provided any design nor carried out the feasibility of the revival of the circular railway, and the day the provincial government does its job, the railways will have the encroached routes of the circular railway cleared given that the provincial government stands by the railway department. وفاقی...

Supreme Court of Pakistan accepts Malik Riaz’s offer to pay Rs460 bn in 7 years for Bharia Town Karachi only

The Supreme Court accepted Malik Riaz’s offer to pay Rs460 billion within a period of seven years for Bahria Town Karachi. The apex court restrained the National Accountability Bureau (NAB) from proceeding with its reference against the real estate developer and relevant officials. The company will have to deposit the amount to the top court within seven years. Bahria Town made this offer for the...

Bahria Town offered to pay Rs485 Billion total, Rs440 billion for Karachi, in 8 years, next hearing tomorrow

Bahria Town has offered to pay Rs440 billion for Karachi Superhighway project, Rs22 billion for Takht Pari Rakh forest land and Rs23 billion for land in Sulkhtar and Manga. Bahria Town has asked for complete legal immunity of its directors and management in return of its new offer of Rs485 billion. The new proposal was submitted in the Supreme Court on Tuesday. After finalisation of the proposal all...

Benami Act, FBR can seize Benami Assets, rewards for Whistle Blowers

Real Estate is one of the major sector for generation & investment of unaccounted money known as “black money”. The Benami Act is to curb black money transactions to ensure that all real estate transactions are conducted in the name of the actual owner where the consideration is paid from his known sources. Parliament approved the law in January 2017 and the president gave his stamp of approval...

Would investors see some relief from Bahria Town Karachi

Good days of Bahria Town Karachi (BTK) investors would soon become reality. Owner of Bahria Town seems serious to give relief to their investors who are worried for the last many months. In the last hearing, the management of Bahria Town offered payment of Rs479.598 billion (all inclusive of fee, charges, duties, taxes etc comprising of land price, regularisation fee and profit for full and final...