FBR Fair Market Property Values DHA Lahore
FBR has finally published fair market values for DHA lahore and other societies in Lahore. This fair market price is almost 30 to 35% more than the previous DC values in case of residential plot prices and 200 to 250% more in case of commercial plot prices.
The Government has also reduced the CGT time duration to 3 years instead of 5 at following rates:
- 10% for first year.
- 7.5% for second year.
- 5% for 3rd year.
CGT will be charged at a flat rate of 5% if properties purchased before 1st July 2016 are sold within the 3 year time period applicable for CGT . In case of army officers and Govt officers allotted plots the CGT will be charged at 5% , 2.5% and 1.5% for 1st year , 2nd year and 3rd year respectively.
There are mixed views on how this will impact the market. Some experts believe that increase in market value of the property should be followed by a decrease in the percentage of taxes .
If you want to discuss about the effects of new DC values kindly post your opinion in our DISCUSSION FORUM
DHA FBR Fair Market Property Values
FBR Fair Market Property Values
Sir i purchased a Plot in DHA prism9 in September-2016 and i am considering to sell it in May-2017…. can you please tell me what will we my Capital Gain Tax….. ?
It will be 10 % of the difference between your buying price and selling price. We have a tax calculator to help you on our website.
Sir what will be the CGT according to FBR and DC rate ? kindly tell according to these rates…….
It will be 10 % of the difference between the DC rate at the time of purchase with the FBR value at the time of selling , however as FBR values were introduced when you purchased it therefore it will be the difference of both the FBR values, which in your case is 0. However as you are not declaring the remaining money , it will remain as such.
Value of 10 marla plot in AWT Phase 2 Lahore
Kindly post your question in forums – property assessment .
Jazak Allah
So if DC rate was 10lac and now it’s 50 lac. After new policy. 40 lac will be liable for CGT. This is fucking gruesome.
Yeah it can be luckily the FBR Fair rates are not much higher than the old DC rates.
Since every Plot has it own worth so it is not possible to treat all plots in same value(table). For example values issued by FBR commercial plots in PIA society Lahore is 1,096,000 per Marla so it meas that commercial plots now charged withholding tax on new rates. So plot(10 Marla commercial) on the main Pia road worth around 600 lacs and plot inside of society worth 90 lacs will be treated alike which is unjust and not helpful to extinguish black money /market in real state and negates all Govt claims .
IF GOVT really wants to make property market transparent once for all then Govt must :-
1- Reduced tax to many times .
2- Govt of Pakistan MUST believe their own citizens, yes if Govt accept the value both buyer and seller agreed in agreement of sale ,in this situation seller claims only what is revealed in agreement as his white money( in future) and same as for the purchaser as his source will from white money. In this condition both seller and buyer will fight to declare the true amount as this declared money will be white for both of them. i.e if someone send 10 million from abroad his money will remain white as he buys the property on the amount which will remains for him and seller white in future. {the agreement of sell in this condition will be issued by Govt and the sole proof for white money before FBR, for both buyer and seller}.
Agreed.
Bro if I bought a 4 marla building in phase 2 dha (commercial) in february 2016 and sold it before 30th July 2016 …. I understand I will be liable to pay 5 pecent CGT and 1 percent advance tax as I’m a filer … what will CGT and advance tax amount be exactly …. wanna know how it will be calculated for me?
I replied in forums Imran . Ty
I have purchased a plot on 25th April 16. Will 5% be applicable to me as well?
Yes , if you sell it before 25th April 2019. The rate is flat 5% if you sell it any time before 3 years from the date of your purchase.
Sir, this 5% is for seller but not buyer. Am I right?
Yes CGT for seller only.
To calculate tax amount We need to know…
Date of purchase
DC rates at the time of purchase
DC or FBR rates at time of sale
CGT = FBR rate at time of sale – DC rate at time of purchase
this is also my question but no one given the reply.
Muhammad you are right but if you put ( CGT = FBR rate at time of sale – DC rate at time of purchase) . The difference between the real value and FBR rate at the time of sale will remain as black money.
But tech we all know most transactions will follow what you just quoted.