Rawalpindi: The Rawalpindi Divisional Commissioner has increased the DC rates applicable on the sale/purchase of properties falling within the district by 10-20% – effective from July 1, according to news sources.
The said development is spurred upon by the directives of the Punjab government and the property registries will be executed with the new rates from July 1. Reportedly, the increased taxes have resulted in a total of 10% tax duties for the non-filers and 7% for the filers. It has also been highlighted that citizens are also required to pay PKR 3,000 during the registry process as the fee of the registration staff.
In response to the increased DC rates and property taxes in Rawalpindi Division, Property Dealers Association Vice President Fayyaz Asghar Qureshi has cited the problems being faced by the sector. He said that stamp paper duties have been increased to 2% for filers and 4% for non-filers. Aside from this, committee fees and cantonment board fees are charged separately. Mr Qureshi expressed concern that the recent jump in taxes will give rise to fraudulent practices.
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.
