Punjab Real Estate Sectors’ Tax Potential Shared by World Bank
World Bank estimates of Punjab’s real estate sector’s tax potential
In a March 8 report cited by national media, the World Bank (WB) estimated the tax potential of the Punjab real estate sector at PKR 400 billion. According to the bank’s evaluation, this can be accomplished by utilizing digitized land records.
Read: ‘Free Height’ Permission to be Given to Property Developers from LDA
According to the report, the three primary sources of revenue collection are services sales tax, urban immovable property tax (UIPT), and stamp duty, with the latter two relating to real estate. UIPT is collected by the Excise and Taxation Department (E&TD), whereas stamp duty is collected by the Board of Revenue (BoR).
Read: Water Supply Schemes in KP to Convert to Solar Power: WAPDA
A centralized cadaster-based transparent land record system has the potential to increase Punjab’s revenue stream, according to World Bank research. Authorities will obtain data insights from a modernized land record database to analyze current policy measures, enhance coordination between E&TD and BoR, and enhance UIPT and stamp duty administration.
Read: Underground Rain Harvesting Tanks Constructed in PHA RWP
According to reports, the Punjab Housing and Town Planning Agency intends to increase the existing housing stock by up to 2.5 million units. In contrast, the worldwide housing shortfall is projected to reach 11,3 million units by 2047. Urbanization, migration, and the deterioration of existing dwellings will increase the need for housing units.
For more updates, stay tuned to Al Sadat Marketing.
You can also invest in other famous and most in demand housing societies, such as , Blue World City, Rudn Enclave, 7 Wonders City Peshawar, Taj Residencia, Kingdom Valley, New Metro City Gujar Khan, Forest Town Rawalpindi, University Town Rawalpindi, ICHS Town, Park View City Islamabad, Multi Gardens B17 Islamabad and Nova City Islamabad.
Al Sadat Marketing please contact 0331 1110005 or visit https://alsadatmarketing.com/
Few more real estate housing schemes which are trending now a days in Islamabad by including: Faisal Town Phase 2, Prism Town Gujar Khan, New City Paradise, Eighteen Islamabad, 7 Wonders City Islamabad, Capital Smart City, Silver City Islamabad, The Life Residencia, Faisal Town Islamabad, Islamabad Golf City, Islamabad Model Town and Marble Arch Enclave.
Al Sadat Marketing is an emerging Real Estate Agency headquartered in Islamabad, Pakistan. With over 10+ Years of experience, Al Sadat Marketing is providing its services and dealing all trending housing societies projects in different cities of Pakistan. Islamabad Projects, Rawalpindi Projects, Gujar Khan Projects, Burhan Projects, and Peshawar Projects etc.
Book Your Plot Now: +92 331 111 0005
