Islamabad: The Federal Board of Revenue (FBR) has announced that non-filers will be charged a 7 percent Federal Excise Duty (FED) on the allotment or transfer of property. This information was disclosed in a report on July 25. According to the details, this new tax measure targets commercial properties and the first allotment or transfer of open plots or residential properties. The key criterion for this...
Peshawar High Court (PHC) has given the Khyber Pakhtunkhwa (KP) government six months to address the issues surrounding the industrial estate in Swabi and housing schemes on agricultural land in Charsadda, as reported on July 25. Details reveal that seven such petitions from Swabi and Charsadda locals were heard by a bench presided over by Justices Ijaz Anwar and Syed Arshad Ali. The chief secretary was...
Islamabad: The Capital Development Authority (CDA) is actively working on the development of the Property Management System (PMS), which is set to digitize over 85,000 property files. This significant initiative was reported on July 24, following a meeting held to discuss CDA’s efforts to enhance citizen services through digitization. The meeting was attended by CDA Chairman Muhammad Ali Randhawa, who...
Islamabad: Prime Minister Shehbaz Sharif has given the green light to a new residential project, Orchard View for Overseas Pakistanis, a news source reported on July 23. Situated along the picturesque banks of the Korang River, this development aims to offer state-of-the-art facilities and luxurious living standards. The approved project will feature 3,000 villas and luxury apartments, equipped with the...
Islamabad: Under terms of its PKR 91.73 billion budget for the fiscal year 2024–25, the Capital Development Authority (CDA) has approved the establishment of an orchard for abroad Pakistanis on 1,487 Kanal of land and smart housing flats in Sector E-11, according to a report on July 15. This development signifies a significant step towards modernizing urban living and catering to the housing needs of...
Lahore: Pakistani Ambassador to the US, Rizwan Saeed Sheikh, visited CBD Punjab to discuss attracting foreign investment and strengthening US-Pakistan relations, as reported on July 15. The visit was part of a broader initiative to foster international economic collaboration and bolster development within the region. During the visit, Ambassador Sheikh was accompanied by prominent business figure Tahir...
Islamabad: On July 11, a meeting known as the All Project Progress Review was convened in the Committee Room of the Federal Government Employees Housing Authority (FGEHA) under the direction of Director General Capt. Muhammad Zafar Iqbal (retd). The purpose of the conference was to discuss the progress and status of several important housing projects. The meeting was attended by the Chief Engineer,...
Lahore: The Central Business District Punjab (CBD Punjab) has completed its fastest land transfer ever, finalizing a deal worth PKR 6.9 billion for plots Lahore Prime 4 & 5, as reported on July 4. This remarkable achievement marks a significant milestone in the history of land transfers in Punjab. The information indicates that the taxes associated with this sale were more than PKR 310 million, making...
According to the details, the transfer involved a substantial 23-kanal plot owned by the Pakistan Corporate Consortium REIT fund. This transfer represents a key achievement for both the Central Business District (CBD) Punjab and the Pakistan Corporate Consortium (PCC). The successful and rapid completion of this transaction underscores the efficiency and effectiveness of the PCBDDA in managing high-value...