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Hike in Property Transaction in Rawalpindi & Islamabad

An immense rise in selling & purchasing of property is witnessed in the twin cities. It is speculated to be the effect of new valuation tables that will be applicable from July 1 on wards. Property registration & transfer offices have experienced more than the usual dealings in the past 2 days.

Must Read : By-laws of Real Estate in Pakistan you must know

According to new valuation table proposed by Federal Board Revenue (FBR) regarding immovable property, there would be 30-50% increase in withholding & Capital Gain Tax. Furthermore from July 1st, recently made property tax policies proposed for FY 2019-20 will also be applicable.

As per the report shared, properties that are transferred to own family members have increased. Tehsildar, Naib tehsildar & Circle Revenue Office said this trend has increased since June 27.

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