Real Estate Revolution in Pakistan 2020
The real estate sector in Pakistan comes with great confidence. Pakistani people have always considered that investment in real estate is the safest and profitable. This is now the right time for investment in residential or commercial sector. Govt of Pakistan is trying to get an influx of foreign investors and local investors. Recently Pakistani Government took a great initiative for the real state sector to make it more stronger and reliable.
So it’s the right time to invest in the real estate sector and have a look below what’s the recent announcements from government of Pakistan.
Main Incentives announced by Prime Minister for Real Estate Sector today:
- No question will be asked about investment in the construction sector this year.
- Fix Tax Regime for the construction sector.
- 90 per cent Fixed Tax will be waived off if invested in Naya Pakistan Housing Scheme.
- All With Holding Taxes waved off
- Federal Government will discuss with Provinces regarding sales tax reduction. Punjab and KPK have reduced sales tax to 2 per cent
- No Capital Gain Tax will be charged in case of Family house sell
- Rs 30 Billion Subsidy for Naya Pakistan Housing Scheme
- Status of Industry to the Construction sector
- Construction Industry Development Board to be established for the development of the Construction Industry.
- From 14 April construction sector will resume its work.