{"id":9641,"date":"2023-01-19T15:58:28","date_gmt":"2023-01-19T10:58:28","guid":{"rendered":"https:\/\/propakistani.pk\/proproperty\/?p=9641"},"modified":"2023-01-19T15:58:28","modified_gmt":"2023-01-19T10:58:28","slug":"real-estate-industry-in-pakistan-needs-tax-reforms-for-growth-and-prosperity","status":"publish","type":"post","link":"https:\/\/propakistani.pk\/proproperty\/real-estate-industry-in-pakistan-needs-tax-reforms-for-growth-and-prosperity\/","title":{"rendered":"&#8216;Real Estate Industry in Pakistan Needs Tax Reforms for Growth and Prosperity&#8217;"},"content":{"rendered":"<p>ISLAMABAD: The real estate sector in Pakistan is the second-biggest industry in the country, with an investment volume of $88 billion, according to Sardar Tahir Mehmood, President of the Islamabad Estate Agent Association and Federation of Realtors Pakistan.<\/p>\n<p>He stated that Pakistanis living abroad invest $4 billion annually in this industry, and the potential for growth is up to $8 billion.<\/p>\n<p>In a conference, Mr. Mehmood called on the government to implement tax reform, repeal 7E, attract foreign investment, and lower tax rates to encourage investment and economic growth.<\/p>\n<div style=\"clear:both; margin-top:0em; margin-bottom:1em;\"><a href=\"https:\/\/propakistani.pk\/proproperty\/chairman-rda-advises-citizens-to-confirm-legal-status-of-housing-societies-before-investing\/\" target=\"_blank\" rel=\"dofollow\" class=\"u69354148123cf6c5635037bb1e38f963\"><style> .u69354148123cf6c5635037bb1e38f963 { padding:0px; margin: 0; padding-top:1em!important; padding-bottom:1em!important; width:100%; display: block; font-weight:bold; background-color:#2C3E50; border:0!important; border-left:4px solid #F1C40F!important; text-decoration:none; } .u69354148123cf6c5635037bb1e38f963:active, .u69354148123cf6c5635037bb1e38f963:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; text-decoration:none; } .u69354148123cf6c5635037bb1e38f963 { transition: background-color 250ms; webkit-transition: background-color 250ms; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; } .u69354148123cf6c5635037bb1e38f963 .ctaText { font-weight:bold; color:#F1C40F; text-decoration:none; font-size: 16px; } .u69354148123cf6c5635037bb1e38f963 .postTitle { color:#eaeaea; text-decoration: underline!important; font-size: 16px; } .u69354148123cf6c5635037bb1e38f963:hover .postTitle { text-decoration: underline!important; } <\/style><div style=\"padding-left:1em; padding-right:1em;\"><span class=\"ctaText\">ALSO READ<\/span>&nbsp; <span class=\"postTitle\">Chairman RDA Advises Citizens to Confirm Legal Status of Housing Societies Before Investing<\/span><\/div><\/a><\/div>\n<p>He emphasized that the current challenges faced by the sector, such as the excess of gain tax, property registration, and other taxes, were a threat to the sector.<\/p>\n<p>According to a senior business leader, the sector currently handles transactions worth PKR 3,000 billion.<\/p>\n<p>The conference was attended by speakers from various provinces including Punjab, Sindh, KPK, Balochistan, and Azad Kashmir, who also urged the government to reform taxes for the real estate sector.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ISLAMABAD: The real estate sector in Pakistan is the second-biggest industry in the country, with an investment volume of $88 billion, according to Sardar Tahir Mehmood, President of the Islamabad Estate Agent Association and Federation of Realtors Pakistan. He stated that Pakistanis living abroad invest $4 billion annually in this industry, and the potential for growth is up to $8 billion. In a conference, Mr. Mehmood called on the government\u2026<\/p>\n","protected":false},"author":2,"featured_media":9644,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-9641","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"img_urls":{"thumbnail":["https:\/\/propakistani.pk\/proproperty\/wp-content\/uploads\/2023\/01\/Real-Estate-Tax-Reforms.jpg",1000,560,false],"medium":["https:\/\/propakistani.pk\/proproperty\/wp-content\/uploads\/2023\/01\/Real-Estate-Tax-Reforms.jpg",1000,560,false],"full":["https:\/\/propakistani.pk\/proproperty\/wp-content\/uploads\/2023\/01\/Real-Estate-Tax-Reforms.jpg",1000,560,false]},"author_name":"Nazzir Zaidi","categories_name":["News"],"title_text":"\u2018Real Estate Industry in Pakistan Needs Tax Reforms for Growth and Prosperity\u2019","related_stories":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/posts?filter&per_page=4&categories=5&exclude=9641","_links":{"self":[{"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/posts\/9641","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/comments?post=9641"}],"version-history":[{"count":0,"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/posts\/9641\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/media\/9644"}],"wp:attachment":[{"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/media?parent=9641"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/categories?post=9641"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/tags?post=9641"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}