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

[Imran Khan]

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

which one sir ? plots ?

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.

everyone know market rates in pakistan we have 3 rates

DC rates
FBR rates
market rates .

even fbr guys know what is market rate . everyone know what is market rate that is real rate .

 

[RoadRunner401]

which one sir ? plots ?

Plot sir

 

[TechMan]

Good step. Real estate is just a mafia in Pakistan which doesn't pay any tax. Common man cannot afford to buy a house so I couldn't care less about this increase. In fact they should increase it 1000% and give a big danda to these so called real estate "investors". They are big harami and have jacked up property prices. LPC all these so called investors.

 

[Imran Khan]

Plot sir

for example

i hold a plot zone 2 purchased back march2017 26.50 today value is 125-130

Good step. Real estate is just a mafia in Pakistan which doesn't pay any tax. Common man cannot afford to buy a house so I couldn't care less about this increase. In fact they should increase it 1000% and give a big danda to these so called real estate "investors". They are big harami and have jacked up property prices. LPC all these so called investors.

ye to dil jalany wali baat hoi sir .

 

[RoadRunner401]

Good step. Real estate is just a mafia in Pakistan which doesn't pay any tax. Common man cannot afford to buy a house so I couldn't care less about this increase. In fact they should increase it 1000% and give a big danda to these so called real estate "investors". They are big harami and have jacked up property prices. LPC all these so called investors.

I can see 2 very good reasons behind this step, One this will take the speculators out of this business 2nd banks will be able to use this tool for Mortgages

i hold a plot zone 2 purchased back march2017 26.50 today value is 125-130

Sir that's appreciation rate is 384.62% in 4 years on plots and I am pretty sure build houses in any given area of Islamabad profit margins are way way higher then the FBR target 600% after 4 years of appreciation...

 

[Imran Khan]

I can see 2 very good reasons behind this step, One this will take the speculators out of this business 2nd banks will be able to use this tool for Mortgages


Sir that's appreciation rate is 384.62% in 4 years on plots and I am pretty sure build houses in any given area of Islamabad profit margins are way way higher then the FBR target 600% after 4 years of appreciation...

its about location sir this is highest now come to lowest ?

same zone in 2018 i buy 45 and not its just 88
another zone in 2019 i buy 65 and its still not reach crore .

they applying universal which is wrong . while PKR devalue effecting profits .

 

[Mav3rick]

Wait till you find idiots even criticising this. And still they won't say anything when Bilawal declare Bilawal house and price it 3 million only, or when NS declare Jati-umra and declare whole Jati-umra worth 4 million only and then pay pennies on these properties.

So they pay same tax ( even less as property tax is less as compare to income tax) as a person who earn 2 million annually despite they having thousands of Marla in Jati umra and hundreds in Bilawal house with millions worth of structures over them.

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__________________

These increases are for posh areas only. A 100% increase is recommended for whole country.

This should be just the first step, the more important steps are:

1. document and computerize all cadastral land records of the entire country.
2. document and computerize ownership of all land record and tax lands accordingly.
3. set a maximum limit of land that can be owned and/or inherited in the future. Need to discontinue the waderaism, sardarism and if possible even gaddi nasheeni system!

When you take away the possibility of investing black money in land, you will kill off a major portion of means of corruption or parking of corruption money which will force people to take bribes in CASH. Make banking and digital funds transfer a whole lot easier and then demonetize the currency and take out of circulation large currency notes (PKR 5k and 1k notes). Force people to use banking channels for transactions and any transaction about Rs. 25k should be forced through digital means.

This will take 10 years or longer but this is the way to go.

 

[Imran Khan]

This should be just the first step, the more important steps are:

1. document and computerize all cadastral land records of the entire country.
2. document and computerize ownership of all land record and tax lands accordingly.
3. set a maximum limit of land that can be owned and/or inherited in the future. Need to discontinue the waderaism, sardarism and if possible even gaddi nasheeni system!

When you take away the possibility of investing black money in land, you will kill off a major portion of means of corruption or parking of corruption money which will force people to take bribes in CASH. Make banking and digital funds transfer a whole lot easier and then demonetize the currency and take out of circulation large currency notes (PKR 5k and 1k notes). Force people to use banking channels for transactions and any transaction about Rs. 25k should be forced through digital means.

This will take 10 years or longer but this is the way to go.

they did not buy on their own names sir . they buy internal transfers on other names . pakistan main NIC ki kami nhi hai her gher main bhut hain .

 

[El Sidd]

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.

So what should people do to buy a house? I asked both how long would it take to end up with an own house to live and retire in.

Below is the quote

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?

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

Why is there a need for comparison when they both have the same needs i.e. housing?

 

[Imran Khan]

So what should people do to buy a house? I asked both how long would it take to end up with an own house to live and retire in.

Below is the quote



Why is there a need for comparison when they both have the same needs i.e. housing?

bhai you can own house from 25 lakh 3 marla in pindi to 25 arab house . there is no universal . owning house should nto be a problem for middle class but then they may dont want the cheap locations .

 

[Valar.]

Can somebody explain to me why people buy plots for lets say 1 crore rupees and sell it after 5/10 years at higher price when they can simply buy a house for 1 crore rupees, get rent money for 5/10 years and then sell it at higher price?

 

[Patriot forever]

Can somebody explain to me why people buy plots for lets say 1 crore rupees and sell it after 5/10 years at higher price when they can simply buy a house for 1 crore rupees, get rent money for 5/10 years and then sell it at higher price?

Appreciation rate is more in plots than built properties. Risk is higher too. Don't buy expensive plot in an average society.

If one is investing for return buy a plot if the society is not fully inhabited or developed, buy a house if ones preference is in a developed well populated society.

If one has a budget of 1 crore don't buy a residential property go for a commercial office space or shop. Rent is higher for the investment.

 

[El Sidd]

bhai you can own house from 25 lakh 3 marla in pindi to 25 arab house . there is no universal . owning house should nto be a problem for middle class but then they may dont want the cheap locations .

why are cheap locations cheap?

25 lac me Pindi me ghar? like legal ya nasla legal?

 

[Imran Khan]

why are cheap locations cheap?

25 lac me Pindi me ghar? like legal ya nasla legal?

pindi means area came under RDA sir new small towns its legal with docs .the land have only three values location location and location . you can buy a 5 marla in d-12 with 3 crores and next to it in vilages you can buy 2 kanals in crore . its all about location . there are many poor areas where a 3 marla new houses are for sale between 25-30-35 lakhs .

i just searched under 35 lakhs in pindi and hundreds results shown up .

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[El Sidd]

pindi means area came under RDA sir new small towns its legal with docs .the land have only three values location location and location . you can buy a 5 marla in d-12 with 3 crores and next to it in vilages you can buy 2 kanals in crore . its all about location . there are many poor areas where a 3 marla new houses are for sale between 25-30-35 lakhs .

i just searched under 35 lakhs in pindi and hundreds results shown up .

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Find properties for Sale in Rawalpindi within your budget on Zameen.com, Pakistan's No.1 Real Estate Portal. Get complete details of properties and available amenities.

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i still struggle to believe that one can buy a house in Pindi for that amount. Old worn out cars sell for more than that and people struggle to buy that.

i just searched under 35 lakhs in pindi and hundreds results shown up .

yes there are some results for that price.
what is fbr evaluation for tax on it? how can i find out?