FBR jacks up property valuation rates in range of 100-600%

[RealNapster]

to wohi to bol rahy hain cheez 80 lakh ki hai tax 130 lakhs ki keemat per deen ap jesy smajhdar logoon ke liye likha to hai suzuki waly se corolla ka tax mang rahy hain .

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Though I think in some places increase of 600% is too much. It needed to be more like 400% at max in those places and less in other posh areas. But still, the committee had members like builders property agents etc. If one read the article they can find such references to individuals who were part of committee

 

[Imran Khan]

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wo comettee waly / real estate agents unions to kal dharna de ker bethy thy FBR ke samny . and FBR POSTPOUNDED this new law for few days

 

[RealNapster]

wo comettee waly / real estate agents unions to kal dharna de ker bethy thy FBR ke samny . and FBR POSTPOUNDED this new law for few days

Let's see. As I said the extreme increase of 600% should be more like 400%. And we all agree property valuation is too low in government numbers as compare to market value. In my town a single shop (less than 200 sq. Feet) in main market is worth more than 1.5 crore. While what they pay as property tax is zero. The commercial electricity bill paid is considered "property tax" as well.

 

[Imran Khan]

Let's see. As I said the extreme increase of 600% should be more like 400%. And we all agree property valuation is too low in government numbers as compare to market value. In my town a single shop (less than 200 sq. Feet) in main market is worth more than 1.5 crore. While what they pay as property tax is zero. The commercial electricity bill paid is considered "property tax" as well.

ohhh bhai no prices were not increased 400 600% in last 40 months . kuch oper waly se dary FBR . if it was increased like this we must have today a villa in central london . FBR ne nashy main prices estimate ki hain . or ab deals hi nhi hoon gi to tax mily ga hi nhi . property transfer tax was not zero you are wrong here .

here is statics of sindh its in billions

جائیداد ٹیکس وصولی کی تفصیلات جاری

تفصیلات پڑھیں

urdu.arynews.tv

 

[I.R.A]

FBR gets the capital gain tax and sales tax only, the property tax goes to development authority like CDA or municipal office or whatever it is.

These revaluations don't take into account "who is going to bear the burden", in 99.9% cases it is the buyer who ends up paying the principal plus the tax. In between no builder, no contractor, no seller pays sales tax or income tax. Meaning the cost of housing is going to go up.

In Islamabad, for per square yard size for a residential area for immovable property in D-12, the valuation rate was revised upwards from Rs53,295 to Rs100,000 per square yard, in E-7 from Rs94,500 to Rs350,000 per square yard, in E-11 from Rs41,800 to Rs110,000 per square yard, in F-6 from Rs93,500 to Rs200,000 per square yard, in F-7 from Rs91,700 to Rs350,000, in F-8 from Rs88,000 to Rs129,000, in F-10 from Rs78,100 to Rs160,000, in F-11 from Rs74,800 to Rs140,000 and in 1-8 Rs116,400 per square yard.

No bani gala? no margalla town where those farm houses are? Select few sectors only?

 

[Imran Khan]

FBR gets the capital gain tax and sales tax only, the property tax goes to development authority like CDA or municipal office or whatever it is.

These revaluations don't take into account "who is going to bear the burden", in 99.9% cases it is the buyer who ends up paying the principal plus the tax. In between no builder, no contractor, no seller pays sales tax or income tax. Meaning the cost of housing is going to go up.



No bani gala? no margalla town where those farm houses are? Select few sectors only?

wo sab areas to farishtoon ke hain naval farms per kon ja ker tax mangy ab

 

[RealNapster]

ohhh bhai no prices were not increased 400 600% in last 40 months . kuch oper waly se dary FBR

Aap Ur rahy ho. When I talked about 400% instead of 600%. I was still talking about the valuation by FBR. I said the highest increase should have more like 400% by FBR instead of 600%. 600% is very high increase on a day notice.

 

[ARMalik]

It is a dumb step. How can you actually establish proper Valuation of property without knowing its physical condition as well??

 

[El Sidd]

Pakistan's answer to rising housing crisis: unaffordable dreams

FBR want to buy ? i have a plot they said its 166 lakhs while its market value is maximum 130 lakhs

no its not its blind step without knowing market value

How can a professional save 170 lacs? How many years would it take to buy or own a house for skilled professionals like doctor or a plumber?

 

[Imran Khan]

Pakistan's answer to rising housing crisis: unaffordable dreams


How can a professional save 170 lacs? How many years would it take to buy or own a house for skilled professionals like doctor or a plumber?

its all about location and budget sir . in pakistan there is no universal income doctors and plumbers have any compare ?

Aap Ur rahy ho. When I talked about 400% instead of 600%. I was still talking about the valuation by FBR. I said the highest increase should have more like 400% by FBR instead of 600%. 600% is very high increase on a day notice.

sir ap ko is mamly ki history nhi pata . they re value property in 2017 and said we will gradually revalue every year . but now suddenly they increased ridiculously value . lets say in 2017 some one buy land 1 crore today its 5crore worth ? where we can got yearly proce double sir ? koi mujhy bhi batay main pesa lagaoon ga .

 

[Patriot forever]

people whom are chanting here are unaware of situation .

lets talk with fact FBR increased B-17 valuation 55000pkr per square yard . and as per FBR 8 marla (242 yards) plot worth 1 crore 31 lakh PKR

now here is market value people ready to sale plots on 60 to 80 lakhs why the hell people pay tax of 1 crore 31 lakhs PKR when the plot worth is just 65 to 80 lakhs ? FBR is asking to pay double taxes of value . its pure stupid . its like suzuki walas to pay tax of corrola . or corrola owners to pay tax of prado .

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please educate yourself on this matter before wah wah sir

I agree with you completely.

It's a mix and match, some regional offices have done great work others just fucked up.

The last I heard they are going to revise the discrepancies and are in consultation with property markets.

The step is in the right direction but it needs further refinement and ironing out the inconsistencies.

 

[Imran Khan]

I agree with you completely.

It's a mix and match, some regional offices have done great work others just fucked up.

The last I heard they are going to revise the discrepancies and are in consultation with property markets.

The step is in the right direction but it needs further refinement and ironing out the inconsistencies.

i my self thrive and enjoyed somewhere and i am in deep mess other investments .

i have bought plots which make me great income i buy commercial which is in deep mess even today . not even doubled in 4 years . while FBR ko 4 gunnah ka tax chayee .

i want to pay taxes and i have no choice but to pay . but why i pay tax which i dont have .

 

[Patriot forever]

Pakistan's answer to rising housing crisis: unaffordable dreams


How can a professional save 170 lacs? How many years would it take to buy or own a house for skilled professionals like doctor or a plumber?

That's not how properties work in Pakistan.

A new professional can never own a house outright. This is the case in all countries, normal people spend their whole lives paying mortgages.

For a new owner with no substantial family inheritance, they do not buy properties outright. Whatever you save pick up some small property like flat or a shop on monthly installment ( booking). By the time the project is complete and installment finishes the value of property at least double or even more. Sell the property and buy 2 instead where there is great potential of appreciation.

You must be the dumbest person if you want to buy house using saving account etc, you will never overcome the appreciation in property prices.

 

[hydrabadi_arab]

people whom are chanting here are unaware of situation .

lets talk with fact FBR increased B-17 valuation 55000pkr per square yard . and as per FBR 8 marla (242 yards) plot worth 1 crore 31 lakh PKR

now here is market value people ready to sale plots on 60 to 80 lakhs why the hell people pay tax of 1 crore 31 lakhs PKR when the plot worth is just 65 to 80 lakhs ? FBR is asking to pay double taxes of value . its pure stupid . its like suzuki walas to pay tax of corrola . or corrola owners to pay tax of prado .

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please educate yourself on this matter before wah wah sir

Maybe you right about prices where you live. But this is minor thing in overall picture. We all know official rates are still below market prices for like 99% cases even after huge increase.

 

[RoadRunner401]

@Imran Khan bhai, how much did u pay for the property and when?