Rawalpindi: The Rawalpindi Development Authority (RDA) has declared 16 major roads in the city as commercial establishments, a news source reported. As per officials, the authority has accorded this status in its bid to generate additional revenue worth millions of rupees in terms of map approval fee payments and property taxes – which will now be collected as per the rates applicable on commercial properties.
Some of these roads include Dhamiyal Road, Kallar Syedan Road, Morgah Oil Refinary Road, Mohala Raja Sultan Road, Dhok Elahi Bakhsh Road, Link Bajnial Road near Dhama Phatak, Lakhoder Road, and Dastgir Road.
According to reports, the change in real estate status would allow the RDA to collect map approval fee payments, as well as property transfer fee and taxes, on properties located on these roads according to commercial rates. In addition, the utility bills for these units will also be now prepared in accordance with the commercial tariff.
Following the issuance of the commercial status, the market value of the properties situated on the said roads has increased – since these units will now be purchased and sold as commercial establishments.
Samra Zulfiqar, a real estate analyst at Zameen.com, is passionate about finding projects that offer buyers the best returns. Her keen insights spotlight the market’s most promising opportunities.
