Lahore Smart City: Restriction on Merging of Properties | New Policies & Criteria Explained


Lahore Smart City has announced new restrictions on property merging. The minimum amount required for merging has been increased from 30% to 40% of the property value. Additionally, properties must be held for a minimum of six months before they can be merged.

These changes aim to stabilize the market and prevent speculation. Customers who purchased properties before November 12, 2024, may still merge their properties with an amount of 40% or more.

For those with properties below the 40% threshold, merging is still possible with a reduction of 25% in the down payment.

The developer expects these changes to increase cash flow and accelerate development. Customers may also benefit from faster development progress on their properties.

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DHA Lahore Phase 9 Town Block-D Drone Tour | Plot Prices & Development Insights


DHA Lahore Phase 9 Town Block-D has emerged as a sought-after residential destination. With rapid development and a range of amenities, it offers attractive investment opportunities for homebuyers and investors. This blog post will delve into the progress of the development, explore property prices, and provide insights into the location's advantages.
Development Progress

Drone footage reveals the significant progress made in DHA Lahore Phase 9 Town Block-D. Numerous houses are under construction or have been completed, showcasing the rapid pace of development.
Property Prices

The transcript provides detailed information on property prices in various categories:

5 Marla Plots: Prices start from PKR 80 lacs and can reach up to PKR 1.55 crores, depending on location.
8 Marla Plots: Prices range from PKR 1.50 crores to PKR 1.78 crores.
10 Marla Plots: Prices vary significantly based on location and can go up to PKR 2.40 crores.

Location Advantages

DHA Lahore Phase 9 Town Block-D enjoys an ideal location:

120-Foot Road Connectivity: Block-D connects to Phase IX Prism through a 120-foot road, ensuring seamless accessibility.
Future Connectivity: Planned connectivity with Block-Q Nine Prism will further enhance its convenience.
Commercial Hub: The proximity to Phase IX Prism offers access to a thriving commercial hub.

Investment Opportunities

With its prime location, development progress, and affordable property prices, DHA Lahore Phase 9 Town Block-D presents a lucrative investment opportunity.


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DHA Lahore Phase 5 M-Extension: Lower Portion Tour | Rates & Development (Pt 2)


Welcome to DHA Lahore Real Estate. In this video, we'll take you on a tour of the lower portion of DHA Phase 5 M-Block Extension, showing you available plot cuttings, current market prices, and ongoing development.
Plot Cuttings and Prices

Residential Plots:

5 Marla: PKR 1.25 crore - 1.35 crore
10 Marla: PKR 1.55 crore - 1.75 crore
2 Kanal: Minimum price available

Commercial Plots:

4 Marla: PKR 2.25 crore - 2.75 crore
8 Marla: PKR 5.5 crore - 6.25 crore

Development Status

The lower portion of M-Block Extension is experiencing rapid development, with the majority of work in the third portion complete. This includes:

Installed drainage system
Built pools
Constructed water tanks
Near completion of road infrastructure

Investment Opportunities

The area offers excellent investment opportunities in both residential and commercial plots. With its convenient location and proximity to schools and other amenities, it's an ideal place for families and investors alike.

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Latest Updates on Cheel Chowk Flyover and Walton Road ADA Nala Project in Lahore

Lahore's transportation landscape is undergoing a significant transformation with the construction of the Cheel Chowk Flyover and Walton Road ADA Nala Project. These projects aim to improve traffic flow, reduce congestion, and enhance connectivity within the city.

Cheel Chowk Flyover

The Cheel Chowk Flyover is a major infrastructure project designed to ease traffic congestion at one of Lahore's busiest intersections. The project involves the construction of a 1.2-kilometer elevated flyover at the Cheel Chowk intersection on Walton Road. The flyover will provide dedicated lanes for through traffic, reducing wait times and improving overall traffic flow.

Walton Road ADA Nala Project

The Walton Road ADA Nala Project is a long-awaited stormwater management project that aims to prevent flooding and improve environmental conditions in Lahore. The project involves the construction of an underground drainage system along Walton Road, which will collect and divert stormwater into the nearby Ravi River. This project will significantly reduce the risk of flooding, improve sanitation, and create a cleaner and healthier environment for residents.

Latest Progress

Both the Cheel Chowk Flyover and Walton Road ADA Nala Project are progressing steadily. According to the latest updates, the flyover structure is complete, and work is underway on the ramps and approach roads. The drainage system for the Walton Road ADA Nala Project is also nearing completion.

Benefits

Upon completion, these projects will provide numerous benefits to Lahore residents, including:

• Reduced traffic congestion
• Improved traffic flow
• Reduced flooding
• Improved environmental conditions
• Enhanced connectivity

DHA Multan Construction Waiver Scheme 2024-25: Save Big on Your Dream Home!

Exciting news for property owners in DHA Multan! The Defence Housing Authority (DHA) Multan has announced a Construction Waiver Scheme for 2024-25, offering a significant financial incentive for those looking to build their dream homes.

Here's what you need to know:

• Substantial Savings: The scheme provides a 75% waiver on development charges for owners who complete the grey structure of their houses between September 1, 2024, and August 30, 2025.
• Additional Incentive: An additional 25% waiver will be granted to those who occupy their houses within the same timeframe, resulting in a complete exemption from development charges.
• Eligibility: The scheme applies to sectors where possession of plots has already been handed over.
• Goal: This initiative aims to encourage construction activity and expedite the development of these areas, while providing substantial savings for property owners.

Don't miss out on this opportunity to save big on your dream home! Contact DHA Multan today for more information and to learn how you can benefit from this exciting scheme.

Tags: DHA Multan, Construction Waiver Scheme, Development Charges, Multan Real Estate, Dream Home, Property Investment, Construction Incentives, Real Estate Savings, Pakistan Real Estate, DHA Multan Sectors

FBR to Hike Immovable Property Valuations by 75% This Week

Get ready for a significant increase in property valuations! The Federal Board of Revenue (FBR) is set to raise the values of immovable properties by up to 75% of the existing market values, bringing them closer to reality. This change will impact property owners across Pakistan, affecting various aspects like taxes and investment decisions.

Key Points:

• FBR to issue notification regarding revised property valuations on Friday, October 25, 2024.
• The revised values will apply to over 50 cities across Pakistan.
• This increase aims to align property valuations with current market trends.
• The Federal Tax Ombudsman (FTO) had earlier set a deadline of October 11, 2024, for FBR to revise the valuations.
• This is the fifth time FBR has adjusted property valuations since 2018.

Impact on Property Owners:

• Higher property taxes: The increased valuations will lead to higher property taxes for owners.
• Increased capital gains tax: When selling a property, owners will have to pay higher capital gains tax based on the new valuations.
• Impact on investment decisions: Investors may need to reconsider their property investment strategies due to the revised valuations.

Stay Informed:

• Keep an eye out for the official notification from FBR on October 25th.
• Consult with a tax advisor to understand the specific impact of the revised valuations on your property.
• Stay updated on further developments related to property valuations in Pakistan.

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LDA City Lahore Possession News: Updates for E, D, and B Blocks (1 and 2 Kanal Plots)
Are you eagerly awaiting possession of your 1 or 2 kanal plot in LDA City Lahore's E, D, or B blocks? If so, you've come to the right place. In this blog post, we'll provide you with the latest news and updates regarding possession schedules for these sought-after residential areas.

LDA City Lahore has been a significant development project in the city, offering a modern and planned living environment. With its strategic location and comprehensive amenities, it has attracted numerous investors and homebuyers.

Possession Updates for E, D, and B Blocks
While the exact possession dates may vary depending on the specific plot number and development progress, here's a general overview of what we know so far:

E Block: As one of the earlier phases of the project, E Block is expected to see possession for 1 and 2 kanal plots in the near future. Keep an eye out for official announcements from the LDA or development authorities.
D Block: Possession for D Block plots might follow closely after E Block, but it's essential to stay updated with the latest information.
B Block: Being a later phase, possession for B Block plots could take a bit longer. However, the development is progressing steadily, and specific timelines will be announced in due course.
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FBR Eliminates Holding Period for Property Capital Gains Tax in 2024

Lahore – August 2024: The Federal Board of Revenue (FBR) has abolished the holding period requirement for property capital gains tax for properties purchased on or after 1 July 2024. According to news sources, this recent development means that all profits from the disposal of immovable property in Pakistan will now be taxed as capital gains, as outlined in the First Schedule of the FBR income tax circular.

Previously, the tax rates were determined based on the duration for which a property was held, with the maximum rate of 15% applied if the property was sold within a year. This rate decreased over time, eventually reaching zero percent for plots held for over six years, houses for more than four years, and flats for over two years.

Now, starting from 1 July 2024, property sales will incur a uniform tax rate of 15% for sellers listed on the Active Taxpayers List (ATL). For individuals and associations of persons (AOPs) not on the ATL, taxes will adhere to Division I of Part I of the First Schedule, while unlisted companies will be taxed under Division II of the same schedule. However, the minimum tax rate for individuals and AOPs will not fall below 15%.

FBR Drafts Tax Laws to End Concept of Late Filers and Non-Filers

The Federal Board of Revenue (FBR) has drafted Tax Laws Amendment Ordinance 2024 to abolish the categories of “late-filers” and “non-filers” from the Income Tax Ordinance 2001.

Sources told ProPakistani that the draft bill is under preparation to end both the concepts of non-filers and late-filers. The category of “late-filer”, introduced through the Finance Act 2024, has already been challenged in Lahore High Court. Each taxpayer has to justify his sources of income for carrying out financial transactions like the purchase of properties and vehicles

In this regard, different monetary limits and thresholds would be proposed in the new law for explaining sources of income by every citizen.

Over 9,200 Big Retailers Have So Far Registered With FBR’s Tajir Dost Scheme
Under the proposed law, if a person is a filer and able to justify his sources of income, his family including the wife (non-filer), mother/father (non-filer), son age below 25 years (non-filer) and unmarried/divorced/widow daughter would not be required to file a return for carrying out the financial transaction. In this family tree, the filer has to give sources of income before carrying out the financial transactions of his family.

Sources said that a number of transactions of the general public would be covered under the new law to make things easier for the masses.

The FBR will introduce a mobile app for the general public for declaration of resources which would be acceptable to the tax department. The taxpayer would not be required to go to the concerned Commissioner to take any certificate of exemption, but only fill the “sources” column in the mobile app, sources said.

Under the proposed law, FBR would establish disincentives for non-compliant taxpayers, starting with registration and linking the availability of facilities such as investments and the creation of bank accounts to the filing of tax returns. There will be no monetary transactions, and the source of funds will have to be established through various digital interventions.

SHC Waives FBR’s Affidavit Requirement for Filing September Sales Tax Returns
The FBR will provide information to all banks based on individuals’ declared incomes in tax returns and establish a specific limit; any financing transactions that exceed this threshold will be reported to the FBR. This system is expected to be implemented in coming months.

Ref: https://propakistani.pk/2024/10/21/fbr-d...on-filers/

The Islamabad High Court (IHC) has issued notices to the Federal Board of Revenue (FBR) and the Attorney General of Pakistan, seeking their comments on the imposition of Federal Excise Duty (FED) on the transfer or allotment of immovable properties by developers and builders.

The court’s decision came in response to a petition filed by Defence Housing Authority (DHA) Islamabad, which has challenged the legality of the duty under Table-III, First Schedule of the Federal Excise Act, 2005.

DHA Islamabad, a local authority involved in land sales and development, filed the petition against the Federation of Pakistan, represented by the Secretary Revenue, Chairman FBR, and Commissioner Inland Revenue of the Large Taxpayer Office, Islamabad. The petitioner contends that the recent imposition of excise duty on property transfers is beyond the scope of the Federal Excise Act.

The petition argued that the duty was imposed on property transactions through an amendment to Table-III of the Act, but no corresponding modification was made to the charging section of the Act, which governs the categories of goods and services subject to excise duty.


DHA Islamabad’s counsel highlighted that excise duty applies solely to goods and services, asserting that immovable property does not fall into either category.

The petitioner further claimed that the inclusion of property transfers under excise duty is legally questionable, arguing that such transactions do not fit the definition of “goods” within the framework of the Act. As a result, the petition challenges the vires (legal authority) of Table-III of the First Schedule.

In response to the petition, the Chief Justice of the IHC issued notices to the FBR and other respondents to submit their replies. Additionally, as the validity of a federal statute has been challenged, the court ordered a notice under Order 27-A of the Civil Procedure Code (CPC) to be sent to the Attorney General for Pakistan to represent the state in the matter.

REF: https://profit.pakistantoday.com.pk/2024...-property/