Real Estate

Sindh Assembly Approves Property Tax Collection via Cantonment Boards

Sindh Assembly Approves Property Tax Collection via Cantonment Boards

Karachi: On June 13, the Sindh Assembly passed the Sindh Urban Immovable Property Tax (Amendment) Bill 2024, which authorizes the provincial government to collect property tax from cantonment areas. Under this new bill, cantonment boards will continue to collect property taxes on behalf of the Sindh government, retaining two percent of the collected amount as service charges. This arrangement was...

Budget 2024-25 Pakistan Introduces Flat 15% Capital Gains Tax on Real Estate

Budget 2024-25: Pakistan Introduces Flat 15% Capital Gains Tax on Real Estate

Islamabad: The 2024-25 budget has introduced significant changes to the capital gains tax regime, particularly affecting real estate, as reported on June 13. These modifications are intended to streamline the tax framework and enhance revenue from property transactions. The government anticipates that these adjustments will increase tax revenue by more than PKR 60 billion. Beginning July 1, 2024, a...

Govt to Increase Withholding Tax on Property Transactions for Non-Filers

Govt to Increase Withholding Tax on Property Transactions for Non-Filers

Islamabad: The Pakistan Government, under directives from the International Monetary Fund (IMF), has announced plans to hike taxes on property transactions for both filers and non-filers. This move is part of a broader strategy to increase revenue and meet the fiscal targets set by the IMF. The new tax measures will be officially introduced in the upcoming budget announcement, aimed at raising the cost of...

Lahore Bund Road Project Is Predicted to Experience Delays

Lahore Bund Road Project Is Predicted to Experience Delays

This project has encountered significant hurdles, including administrative delays and payment issues to contractors, as reported on June 3. This development poses serious challenges to the timely completion of a project critical to improving Lahore’s infrastructure. According to news details, the Lahore Development Authority (LDA) still needs to green-light the updated cost estimate, which includes...

Green Light for Modernisation Era of Expo Centre at Gulberg Greens

Green Light for Modernisation Era of Expo Centre at Gulberg Greens

An innovative Expo Centre will be constructed in Gulberg Greens, according to an agreement that was put between the Intelligence Bureau Employees Cooperative Housing Society (IBECHS) and the Islamabad Chamber of Commerce and Industry (ICCI). During a visit to the Gulberg Greens headquarters, a delegation from the International Chamber of Commerce and Industry (ICCI), led by its President Ahsan Zafar...

LDA is introduce a Sustainable Growth Model in 3 Housing Schemes

LDA is introduce a Sustainable Growth Model in 3 Housing Schemes

This initiative aims to promote environmentally friendly practices and ensure long-term development. The LDA's decision to implement this model reflects its commitment to creating sustainable and livable communities. By incorporating eco-friendly features and adopting green technologies, these housing schemes will contribute to a more sustainable future. This move by the LDA is a significant step towards...

The LDA DG Evaluates the One-Window Cell of the Lahore

The LDA DG Evaluates the One-Window Cell of the Lahore

According to a source, on April 2, the Director General (DG) of the Lahore Development Authority (LDA), Tahir Farooq, reportedly evaluated the performance of the LDA's one-window cell. In the course of his visit, DG Farooq addressed the concerns of individuals and engaged in conversation with staff members from a variety of departments. To facilitate the processing of applications, he stressed the...

LDA has Successfully Installed First Garder on the new Ravi Bridge

LDA has Successfully Installed First Garder on the new Ravi Bridge

According to information that was published by a news source on March 29, the Lahore Development Authority (LDA) has reached a critical milestone with the installation of the first Garder on the new Ravi Bridge, which is currently being constructed in Lahore. According to the information provided, the installation procedure, which was started with the assistance of massive cranes, is the first step in a...

PCBDD Continues at the Development of Urban Infrastructure

PCBDD Continues at the Development of Urban Infrastructure

According to a source who spoke to the media on April 1, this initiative of the Punjab Central Business District Development Authority (PCBDD) is making significant progress in important projects such as the Walton Road Upgradation and the Walton Railway Crossing Flyovers initiatives. As per the information provided, Chief Executive Officer Imran Amin recently presided over a comprehensive review meeting,...

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