ISLAMABAD: The Capital Development Authority (CDA) recently declared the introduction of additional taxes on Islamabad real estate properties. The government has announced that owners of 140-square-foot plots in several housing societies and sectors, such as Shehzad Town, Margalla Town, and Rawal Town, have to pay taxes totaling Rs 24,000.
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Owners of rural real estate may pay more taxes under the new rules, which could have a special effect on them. Property tax on farmhouses larger than eighty-eight Kanals is Rs. 180,000. Property tax on larger properties, such as those between ninety and one hundred and twenty Kanals, is even higher at Rs. 442,000.
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Commercial properties located in the commercial district will be subject to significant taxes, such as:
- The tax rate for ground-floor establishments is 32 rupees per square foot.
- The tax on basement spaces is Rs 22 per square foot.
- The price per square foot for residential flats in this area will be Rs 26.
The announcement also lists the tax rates for other businesses, such as marriage halls, CNG stations, private hospitals, and gas stations.
- The tax on private hospitals will be Rs 22 per square foot.
- A tax of Rs. 180 per square yard would be imposed on CNG stations and gas pumps.
- Marriage halls and marquees would be subject to an official tax of Rs13 per square foot.
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