Ohh my god! Another blow to the real estate
Hahahahaha
So we should expect a drop in Real estate prices … Good for those who want to construct home.
This will definitely impact the realestate but may be better for the construction sector. Definitely gov will lose tax money due to the volume of the business will be low. Not a wise move by gov if they are targeting the tax.
20% of 1% is only.0.2%, so the net increase in withholding tax for filers would be insignificant. For example, a property that was 1 cror on FBR table earlier would now have net increase on tax as 20 thousand rupees.
Beside, FBR rates are still way below actual market prices. I dont think this is going to have a major impact on property market.