Author: Multiplierz

CategoriesProperty

Housing Trends in Pakistan: An Overview

By Multiplierz,

Housing Trends in Pakistan: An Overview

Pakistan has always had immense growth potential, especially in the real estate sector. With the increasing population, urbanization, and the need for affordable housing solutions, the demand for housing in Pakistan has increased. In this blog post, we will take a closer look at the current housing trends in Pakistan and what it means for potential homebuyers and investors.

Urbanization and the Increase in Population

The population of Pakistan is multiplying, and with that comes an increase in urbanization. According to the World Bank, more than half of the population in Pakistan now lives in urban areas, and this trend is expected to continue in the future. The rise in population and urbanization has led to increased demand for housing solutions, both in quantity and quality.

Affordable Housing Solutions

The increasing demand for housing has also led to a growing need for affordable housing solutions. In response, the government and private developers have been working together to provide affordable housing options for the growing population. It has led to several housing schemes and projects focusing on providing low-cost and affordable homes to the masses.

The Rise of Apartment Living

With the increasing demand for housing, apartment living has become a popular trend in Pakistan. Apartments offer a convenient and affordable housing option, especially for those living in urban areas. In addition, apartments are becoming more luxurious and offering modern amenities, making them an attractive option for homebuyers and investors.

The Growth of Real Estate Investment Trusts

Real Estate Investment Trusts are becoming more popular in Pakistan as they offer an easy and convenient way for individuals to invest in real estate. REITs allow individuals to invest in a portfolio of properties, which professional real estate managers manage. It makes real estate investing more accessible and convenient for those who want to take advantage of Pakistan’s growing real estate market.

The Importance of Location

Location is always an important factor in real estate, and this is especially true in Pakistan. Housing developments in prime locations, such as near major commercial and industrial hubs, are expected to see high demand. Homebuyers and investors are increasingly looking for properties in areas with good transport links, access to amenities, and a strong sense of community.

In conclusion, the housing market in Pakistan is growing, and there are many opportunities for homebuyers and investors to take advantage of. Whether you are looking for an affordable housing solution, a convenient apartment, or a way to invest in real estate, there is something for everyone in Pakistan. As a real estate professional with years of experience in the industry, I can say that the future of real estate in Pakistan is bright and full of potential.

CategoriesReal Estate

10 Tips for Success in Real Estate Business

By Multiplierz,

10 Tips for Success in Real Estate Business

  1. Networking: Attend industry events, join local real estate organizations, and build relationships with other professionals in the field.
  2.  Marketing: Create a robust online presence through a professional website, social media accounts, and advertising.
  3.  Research: Stay up-to-date on the local real estate market, economic trends, and demographic changes.
  4.  Niche Specialization: Consider focusing on a specific type of property or target market to become an expert.
  5.  Customer Service: Provide excellent customer service to build trust and reputation.
  6.  Time Management: Set achievable goals and prioritize tasks to be more productive.
  7.  Negotiation Skills: Develop strong negotiation skills to close more deals and increase income.
  8.  Professional Development: Attend training and continuing education courses to stay current with industry changes and advancements.
  9.  Financial Planning: Create a budget, track expenses, and save for future investments.
  10.  Legal Knowledge: Stay informed about local, state, and federal real estate laws and regulations to avoid legal issues.

In 2023, why should you invest in property in Pakistan?

  1. Growing Economy: Pakistan’s economy has been growing steadily, leading to increased demand for real estate.
  2.  Developing Infrastructure: The government is investing in infrastructure development, expected to drive real estate growth.
  3.  Demographic Shift: Pakistan’s population is growing and urbanizing, creating a strong demand for residential and commercial properties.
  4.  Low-Interest Rates: Interest rates in Pakistan are low, making it an attractive time to invest in real estate.
  5.  Potential for Capital Appreciation: Real estate values in Pakistan are expected to increase in the coming years, providing potential for capital appreciation.
  6.  Rental Income: Investing in rental properties can provide a steady source of income, particularly in growing urban areas.
  7.  Diversification: Investing in real estate can help diversify an investment portfolio, reducing risk.

10 Tips for Success in Real Estate Business

  1. Networking: Attend industry events, join local real estate organizations, and build relationships with other professionals in the field.
  2.  Marketing: Create a robust online presence through a professional website, social media accounts, and advertising.
  3.  Research: Stay up-to-date on the local real estate market, economic trends, and demographic changes.
  4.  Niche Specialization: Consider focusing on a specific type of property or target market to become an expert.
  5.  Customer Service: Provide excellent customer service to build trust and reputation.
  6.  Time Management: Set achievable goals and prioritize tasks to be more productive.
  7.  Negotiation Skills: Develop strong negotiation skills to close more deals and increase income.
  8.  Professional Development: Attend training and continuing education courses to stay current with industry changes and advancements.
  9.  Financial Planning: Create a budget, track expenses, and save for future investments.
  10.  Legal Knowledge: Stay informed about local, state, and federal real estate laws and regulations to avoid legal issues.

In 2023, why should you invest in property in Pakistan?

  1. Growing Economy: Pakistan’s economy has been growing steadily, leading to increased demand for real estate.
  2.  Developing Infrastructure: The government is investing in infrastructure development, expected to drive real estate growth.
  3.  Demographic Shift: Pakistan’s population is growing and urbanizing, creating a strong demand for residential and commercial properties.
  4.  Low-Interest Rates: Interest rates in Pakistan are low, making it an attractive time to invest in real estate.
  5.  Potential for Capital Appreciation: Real estate values in Pakistan are expected to increase in the coming years, providing potential for capital appreciation.
  6.  Rental Income: Investing in rental properties can provide a steady source of income, particularly in growing urban areas.
  7.  Diversification: Investing in real estate can help diversify an investment portfolio, reducing risk.

10 Tips for Success in Real Estate Business

  1. Networking: Attend industry events, join local real estate organizations, and build relationships with other professionals in the field.
  2.  Marketing: Create a solid online presence through a professional website, social media accounts, and advertising.
  3.  Research: Stay up-to-date on the local real estate market, economic trends, and demographic changes.
  4.  Niche Specialization: Consider focusing on a specific type of property or target market to become an expert.
  5.  Customer Service: Provide excellent customer service to build trust and reputation.
  6.  Time Management: Set achievable goals and prioritize tasks to be more productive.
  7.  Negotiation Skills: Develop strong negotiation skills to close more deals and increase income.
  8.  Professional Development: Attend training and continuing education courses to stay current with industry changes and advancements.
  9.  Financial Planning: Create a budget, track expenses, and save for future investments.
  10.  Legal Knowledge: Stay informed about local, state, and federal real estate laws and regulations to avoid legal issues.

In 2023, why should you invest in property in Pakistan?

  1. Growing Economy: Pakistan’s economy has been growing steadily, leading to increased demand for real estate.
  2.  Developing Infrastructure: The government is investing in infrastructure development, which is expected to drive real estate growth.
  3.  Demographic Shift: Pakistan’s population is growing and urbanizing, creating a strong demand for residential and commercial properties.
  4.  Low-Interest Rates: Interest rates in Pakistan are low, making it an attractive time to invest in real estate.
  5.  Potential for Capital Appreciation: Real estate values in Pakistan are expected to increase in the coming years, providing potential for capital appreciation.
  6.  Rental Income: Investing in rental properties can provide a steady source of income, particularly in growing urban areas.
  7.  Diversification: Investing in real estate can help diversify an investment portfolio, reducing risk.

10 Tips for Success in Real Estate Business

  1. Networking: Attend industry events, join local real estate organizations, and build relationships with other professionals in the field.
  2.  Marketing: Create a solid online presence through a professional website, social media accounts, and advertising.
  3.  Research: Stay up-to-date on the local real estate market, economic trends, and demographic changes.
  4.  Niche Specialization: Consider focusing on a specific type of property or target market to become an expert.
  5.  Customer Service: Provide excellent customer service to build trust and reputation.
  6.  Time Management: Set achievable goals and prioritize tasks to be more productive.
  7.  Negotiation Skills: Develop strong negotiation skills to close more deals and increase income.
  8.  Professional Development: Attend training and continuing education courses to stay current with industry changes and advancements.
  9.  Financial Planning: Create a budget, track expenses, and save for future investments.
  10.  Legal Knowledge: Stay informed about local, state, and federal real estate laws and regulations to avoid legal issues.

In 2023, why should you invest in property in Pakistan?

  1. Growing Economy: Pakistan’s economy has been growing steadily, leading to increased demand for real estate.
  2.  Developing Infrastructure: The government is investing in infrastructure development, expected to drive real estate growth.
  3.  Demographic Shift: Pakistan’s population is growing and urbanizing, creating a strong demand for residential and commercial properties.
  4.  Low-Interest Rates: Interest rates in Pakistan are low, making it an attractive time to invest in real estate.
  5.  Potential for Capital Appreciation: Real estate values in Pakistan are expected to increase in the coming years, providing potential for capital appreciation.
  6.  Rental Income: Investing in rental properties can provide a steady source of income, particularly in growing urban areas.
  7.  Diversification: Investing in real estate can help diversify an investment portfolio, reducing risk.

10 Tips for Success in Real Estate Business

  1. Networking: Attend industry events, join local real estate organizations, and build relationships with other professionals in the field.
  2.  Marketing: Create a robust online presence through a professional website, social media accounts, and advertising.
  3.  Research: Stay up-to-date on the local real estate market, economic trends, and demographic changes.
  4.  Niche Specialization: Consider focusing on a specific type of property or target market to become an expert.
  5.  Customer Service: Provide excellent customer service to build trust and reputation.
  6.  Time Management: Set achievable goals and prioritize tasks to be more productive.
  7.  Negotiation Skills: Develop strong negotiation skills to close more deals and increase income.
  8.  Professional Development: Attend training and continuing education courses to stay current with industry changes and advancements.
  9.  Financial Planning: Create a budget, track expenses, and save for future investments.
  10.  Legal Knowledge: Stay informed about local, state, and federal real estate laws and regulations to avoid legal issues.

In 2023, why should you invest in property in Pakistan?

  1. Growing Economy: Pakistan’s economy has been growing steadily, leading to increased demand for real estate.
  2.  Developing Infrastructure: The government is investing in infrastructure development, which is expected to drive real estate growth.
  3.  Demographic Shift: Pakistan’s population is growing and urbanizing, creating a strong demand for residential and commercial properties.
  4.  Low-Interest Rates: Interest rates in Pakistan are low, making it an attractive time to invest in real estate.
  5.  Potential for Capital Appreciation: Real estate values in Pakistan are expected to increase in the coming years, providing potential for capital appreciation.
  6.  Rental Income: Investing in rental properties can provide a steady source of income, particularly in growing urban areas.
  7.  Diversification: Investing in real estate can help diversify an investment portfolio, reducing risk.
Tax On Property Files?Types of Property Files
CategoriesProperty Real Estate

Tax On Property Files & Types of Property Files

By Multiplierz,

Hundreds of housing schemes are operating in Pakistan, and plots are sold to customers via files. It’s a question that often arises in the minds of investors and end-users whether they have to pay tax on the files they purchase. This article will answer the question for you.

What is a property File in real estate?

In real estate terminology, a file is a document promising the delivery of a piece of land in an upcoming or existing housing society. There is no physical existence of files that are not authorized by any authority.

The range in which files are distributed is decided by society. The number of plots the society intends to give customers is the subject of the files. A small percentage of the total price of the plot may be available for a down payment or booking charges.

Customers can pay to get ownership, and society works on development. After a series of events like balloting and possession, files are converted into plots and issued to buyers. People who can’t pay the total cost of a plot can purchase files at low prices and pay installments to become owners.

Taxes on Property Files

Types of files

Generally, there are different stages and types of files, and tax is applied after a particular stage. We will explain this process step-by-step so you can understand it.

Open Files and Closed Files

Open and closed files are provided at the beginning of the project. Closed files are registered in the client’s name, while open files are not. Open files are preferred by end users who want to pay installments, while closed files are preferred by short-term investors who want to build homes. Both file types are proof of ownership of a piece of land in a housing project, and the Federal Board of Revenue does not consider their real property.

Balloted Files in Real Estate

Balloting is the second stage of the journey of files, and it is where society picks out the members and votes the files down. The files move on to the next stage, possession, from here. A balloted file indicates that your ownership of a piece of land/plot is confirmed and will be issued in your name. Plot numbers are usually implemented after the balloting. A file can become eligible for tax implementation at this stage. After the file is balloted, a number is assigned to the plot, and most of the time, FBR implements tax.

Possession Files in Real Estate

After the file is balloted, it moves to the next possession stage. At this point in the conversion process, the society declares the file converted into a file in the customer’s name. It means that the rightful owner of the numbered plot is the file owner. As your plot becomes an actual property, a tax will be implemented.

Tax is usually implemented on the file between the balloting and possession stages when the plot number is issued to the customers. Tax is usually implemented on the housing project and then on the customers by the management. The tax is added to the ledgers of customers by society.

What is the Amount of Tax on property files?

The amount of tax is calculated using the diaphragm created by the Federal Board of Revenue. FBR divides taxpayers into two categories, filers and non-filers, both of which are registered through an NTN number. The amount of tax a person has to pay is lower than others.

The tax for both filers and non-filers is given below.

Tax for Filer

  • Filer has to pay 2% (of market value) as tax to FBR.

Tax for Non-Filers

  • Non-filer has to pay 7% (of market value) as tax to FBR.

Conclusion

We hope the article answers your question about whether tax is implemented on a file. Whether you are a filer or non-filer, you must pay government-implemented tax sooner or later against your plot. Tax is applied to the file between the balloting and possession stages when the plot number is allotted. It is recommended that file owners become filers to enjoy tax benefits and knowledge of FBR tax policies.

Categoriesnews

The transfer of the LDA Director General has been stopped.

By Multiplierz,

The Director General of the LDA, Aamir Ahmad Khan, was prevented from being transferred by an order issued by the Lahore High Court.
According to a press release by the LDA, the court directed the Chief Secretary of Punjab to keep the current LDA Director the same. The court ordered the director general of LDA to create rules and regulations for the appointment of an environmental consultant to address environmental concerns on significant highways.
According to the press release, the LDA is taking steps to make the city’s main highways into model roads and is conducting a campaign on electronic media, major national newspapers, and social media. At the next hearing on February 3, 2023, a report will be submitted on the progress of the efforts.

Categoriesnews Real Estate

The master plan declared 33,000 acres of housing projects as green space.

By Multiplierz,

According to the Lahore Development Authority, 33,000 acres of brown area land have been added to the green areas in the Lahore Master Plan-2050.

The Director General of the LDA said that they took 27,000 acres out of the brown regions in the city’s north side and designated them as green ones for agricultural purposes. Six thousand acres of brown land along the Bambawali-Ravi-Bedian Canal have been acquired and given for green spaces or national strategic policies.

Twelve thousand acres of additional land that were never considered brown areas but had to be designated as such to accommodate southward growth were included for the first time.

According to the survey of 30,000 houses in the Lahore division, 25 million people will live in the city alone by the year 2050

Categoriesnews

Property transactions brought in 81 billion pkr for the Federal Board of Revenue.

By Multiplierz,

According to the official data provided by the FBR, income tax receipts from the sale and purchase of real estate increased by 32% to PKR 81.20 billion in the tax year 2022, from PKR 61.15 billion in the tax years 2020–
Sections 236-C and 236-K of the Income Tax Ordinance were used to collect property taxes on the sale, acquisition, and transfer.
The tax revenue under Section 236-K increased by 32% to 64.58 billion for 2022 compared to the previous year. It is important to remember that the government gave the construction sector an enormous subsidy in the previous year, which included a reduction in the tax rate on real estate and an increase in FBR income sources.

Categoriesnews

The Punjab Central Business District Development Authority (PCBDDA) says the Kalma Chowk Underpass will open in February.

By Multiplierz,

Lahore: The Punjab Central Business District Development Authority (PCBDDA) in Lahore has been putting in a lot of effort to make the roads around Kalma chowk accessible to traffic.

While assessing the project’s advancement, the CEO of PCBDDA provided this information. According to him, the two barrels of the Central Business District’s Punjab Boulevard project would be finished by then.

The underpass’s roof has been sealed, and a storage tank is being excavated. Two underpasses and an overhead bridge are part of the renovation project, which aims to enhance traffic flow and offer access to the recently built innovative downtown.

CategoriesProperty Real Estate

5  key points To success in property investment

By Multiplierz,

Five critical points To success in property investment

  1. Know your numbers:

Before investing in property, you’ll need to know your numbers. You’ll need to know how much money you have available to invest and how much you’ll need to make a profit. You’ll also need to know how much rent you can afford to pay.

  1. Have a plan:

Once you’ve got your numbers, you must have a plan. You’ll need to decide what you want to do with the property. You might want to buy a property and rent it out. You might want to renovate the property or even sell it.

Make a decision: Once you’ve decided what you want to do with the property, you’ll need to decide. You’ll need to decide whether you will invest in property and, if so, what type of property you will invest in.

  1. Research:

You’ll need to research the property you’re going to invest in. You’ll need to find out the current market value of the property, as well as the rental value. You’ll need to know the average rent for the area and the number of available properties.

5. Set a budget:

Once you’ve researched the property, you must set a budget. You’ll need to decide how much money you will spend on the property. You’ll need to decide how much you will pay for the property. You might also need to decide how much you’re willing to borrow.

Categoriesnews

CM Punjab laid the foundation for major infrastructure projects.

By Multiplierz,

LAHORE: The Chief Minister of Punjab, Chaudhry Parvez Elahi, recently laid the cornerstone for three major infrastructure projects in Lahore: The Chief Minister and other people were at the ceremony. The Chief Minister said during the event that 20 billion rupee worth of initiatives would be finished within a year.

He stated that 7.53 billion rupees would be allocated to the three projects: the Gulshan-e-Ravi T Junction, the cricket stadium, and the Samanabad Morr underpass.

ALSO READ Government to Fulfill Dream of Housing for Low-Income People: CM Punjab

The Chief Minister was of the opinion that the construction of the Samanabad Morr and T Junction underpass would greatly improve traffic flow. He claimed that the city was going to be transformed into a hub for building and development and a top-tier developed metropolis.

The Chief Minister stated that the traffic issues had begun to be alleviated by the restoration of Bund Road. The rehabilitation of the Gulshan-e-Ravi T Junction and Bund Road is expected to be finished in eight months. The projects are expected to greatly reduce the area’s pollution.

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