Following a directive from the Board of Revenue Punjab, district administrations across the province have started revising property valuation rates.
Sources told ProPakistani that the Prime Minister has been briefed that reducing tax-related friction in the property sector could help attract investors from the United Arab Emirates and other Gulf countries.
They said the current exercise is being done to position Pakistan as a more attractive destination for foreign investment.
The process is underway in multiple districts. Local property rates are being aligned with Federal Board of Revenue (FBR) benchmarks for the upcoming fiscal year.
The move has raised key questions in the property sector: whether the revised tax structure will increase transaction activity, or primarily benefit large housing societies, particularly in Rawalpindi and other major urban centres.
Sources added that the immediate impact may be concentrated in large housing schemes rather than market activity, as major developers stand to benefit more than individual buyers.
The revised valuation framework is being implemented ahead of the new fiscal year, with district-level adjustments currently in progress.
The actual market outcome remains uncertain.
Instead withholding tax should be reduced to the purchaser this could generate activity
You mean those “foreign investors” who want to whiten their $$ sent by hawala.?
What to expect from such in inept, duffer and highly incapable government. They are so stupid to raise the property tax to such an exponential level that the entire property business has gone down the drain and the entire business linked with property has also been drastically affected