Islamabad: The government on Wednesday announced its intent to request provinces to reduce registration fee on mortgage facility announced for the Naya Pakistan Housing and Development Authority (NAPHDA)-approved housing schemes, according to news sources.
The proposal is aimed at reducing provincial taxes on NPHDA-approved projects to facilitate low-income groups. According to reports, the executive’s incentive package for developers and builders is picking up and is bringing about definite signs of success and a great amount of interest by the construction industry. According to the Federal Board of Revenue (FBR), a total of 127 projects have registered themselves with the taxation agency; bringing in about PKR billion.
Other agendas of the meeting included the matter of housing completion certificate requirement by the banks and facilitation by provinces (especially in remote locations). It was decided that the development authorities will have the power to nominate a focal person or office for the issuance of the house completion certificate.
Hazafa reveres the art of writing and has been turned into a property enthusiast by profession. Her daily survival kit includes; tea, coffee, keyboard and paperbacks.
