What are the comments of experts on the statement of chairman fbr. “property prices soon will come down!”
I think it will depend
Solid lands/plots which attracted end users will appreciate imo because of the the drop in pkr value
FBR chairman is behind collecting tax or dropping property prices ?
If property prices goes down it will also hurt our economy.
When FBR chairman will tell & demonstrate incentive driven tax collection:
- Tax payers & Market will respond psoitively.
When FBR chairman will threat & demonstrate threat-driven collection with no or least incentive:
- Tax payers & Market will respond negatively.
Min. 17% taxes for filer is already there in property-driven transactions.
** Will try to share the property valuation list compiled by the FBR to show the blunder yet again where an underdeveloped RDA society named FOECHS is valued at 885000/Marla that is priced more then many CDA sectors. In that society a developed plot will be in range of less then 20 lac for 5 Marla.
Whom to trust...? This is where the Tax guy with his blunders becomes responsible for Dropping Market!
Last time these guys said we will hang those who will avail amnesty money whitening. Results is here no one bothers about Amnesty now! Blunders do impact the economy!
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PS: Filer & Non-filer is not a prime example of incentive vs threat. It's state welfare against collected tax. The day tax payer's life/honor/needs etc. will be honored there will be long queues to pay, outside FBR office.
Till the common man keeps subsidizing the elite, FBR will have no other option but to try to collect by hook or by crook and people will go to last Mile to protect their money that is used to support the elite. Example: Zakat, Charity, Donations amount is also being used to buy protocol vehicles, home furnitures and foreign trips of the official in Ministry of Religious Affairs!
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Indeed it is a step in the right direction
Chairman is right. When the crackdown start by July 1, there will be more sellers in market than buyers and as result prices will collapse for sure. Dealers/investors can't absorb all sales to hold the market at same levels.
All-in-all it is a great news for economy.
Small and large businesses will be able to grow and expand.
Regular citizens will be able to build homes for their families which will improve social fabric of the society.
Even all those who can't buy will see lower rents of shops and houses as the result of such decline in prices.
Pakistan cannot grow by having such high prices where our major cities real estate is way more expensive than a well developed city like Istanbul.
Someone tell the FBR that blunders on TV could be covered but getting it implemented and publicly available doesn't.
Check the list: Valuation of Immovable Asset - Value per sq. yard
For example, (from very first page, not even bothering to go further)
Residential:
I-10: 19200 PKR
I-14: 18000 PKR
Just check market value and differential between the two. If difference between the two above in per sq. yard is just 1200, will be all in to endorse FBR despite their blunders!
First a crack down is needed in house before going any further!
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https://www.fbr.gov.pk/valuation-of-immovable-properties/51147/131220
@JDM
Real estate is the sector where govt doesn't spend a penny, doesn't subsidize a dime, yet it generates major economic activity, is a source of foreign remittance and direct investment. Creates millions of jobs, drives construction industry and runs support services. This is all done with investors' money. Genuine house owners do not have enough steam to get it going at that scale. You remove the investors and the industry will die. Investor, "Jo mai bhi hoon aur tum bhi ho" (Faiz).
Chairman FBR is right, the recent measures will completely strangulate this industry that was already gasping the final breaths.
Phir, hum tum hon gey, baadal ho ga.
"First a crack down is needed in house before going any further!"
Good to see some solutions to the govt.This is very Imtiaz.
I know and can prove that any Pak discussion forum having good members and talk shows are being read by Imran team.
Good solutions to govt blunders/mistakes might catch govt attention!
This is as good as pointing fingers to mistakes.
AQ sb, on Imran team and a hope expressed by you that good points get picked up and reach Imran khan thingy, all I can say is I wish I was as positive as you 
YC sb
I know even if our voices reach up to the people around Imran, there is less hope that Imran ears will get them as He is a very busy person and cannot read all on social media.
But is it a healthy idea that keep beating the keyboard morning to evening spreading only negativity?
Pointing figure is easiest job one could think of but it takes bravery, mental exercise, positive thinking to come around the problems!
Our country is in turmoil, we all aware of it but does it cost too much or money to present solutions of problems, no matter it is being noticed or not.
At least 1000s will read it. God knows positivity may speak up positive to someone somewhere!
I remember years before, I posted at Lahore real estate about live electrical JBs in DHA-2 and forgot but to my surprise an officer came to our house to solve the problem.
If you suggest someone good and someone succeeds, you did a " Sadqa e Jaria" and you will keep getting " Sawab" more and more if that help or suggestion/advice of yours keeps the benefits cascading further.
Even giving a smile to someone who needs it, you earned Sadqa Jaria, sir.
Being negative not bad as zameen friends are telling true stories but beating brain cells a bit more towards solutions, parallel to it, does not hurt much or cost much!
Abdul Qayyum Sb,
You are right but we should not complain about anyone criticizing and spread negativity. Our own leader Imran Khan did the same thing for 20+ years.
In reply PMLN used to say the same thing that don't spread negativity and let the government work.
so I think we should never afraid of criticism. No one cries or complains or spread negativity without any reason. People are hurt and feeling the pain. Least we can do it let them speak their mind and vent out their frustrations about the wrongdoings of the government.
Honestly, no one can spread negativity if we had something positive to show on the ground. Actions speaks much louder than anyone's criticism.
On the other hand power is very toxic, just look at Imran Khan who forgot all about his promises and now doing everything pretty much opposite of what he promised us.
Again......
" I swear to you, sitting a throne is a thousand times harder than winning one"
Except there is no King or a throne. This is a free & democratic country where Awaam is supreme and awam are the real owners of Pakistan and government is just a servant of awam paid by the hard-earned tax money of awam.
Sooner they all realize this fact, better they will be able to serve.
"You are right but we should not complain about anyone criticizing and spread negativity............"
Well said JDM sb.
Frustration has its own footprint, in different forms and manifestation.
Mine is no exception, of course!
Relax Bros…its another kind of topi dramas episode from present govenment setup…
Kash ye log govt main aane ki koiee tayyaree kar lete?
Ae kash!!!
Non-stop entertainment continues...
1) Govt quietly offers tax amnesty to realty sector
https://tribune.com.pk/story/1997538/2-govt-quietly-offers-tax-amnesty-realty-sector/?amp=1
2) No tax amnesty for the realty sector.
https://www.thenews.com.pk/amp/165635-Govt-snubs-tax-amnesty-for-real-estate-sector
Glad to see people are realizing the ugly incompetence of imran khan. But its useless now.
I had always criticised him in the past because of only one reason i.e. He never laid out plan for anything.