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“The government is taking steps to broaden the tax net and the next year would have focus on fiscal consolidation and stabilization.” --Minister of State for Revenue Hammad Azhar
The revenue minister on April 25th said that the government would revise property valuation rates from July 1.
“Soon they would launch a sales tax registration portal to facilitate the business community”, he added.
The minister said that the Federal Board of Revenue faced massive revenue shortfall of Rs238 billion in the previous year. Most of the revenue targets, during the past 10 years, could not be achieved. They were working on the new revenue collection system to meet the assigned targets.
He said that the federal government in collaboration with the provinces would launch a new program for sales tax registration and filing.
DHA Valley Islamabad has seemingly conducted its 2nd phase of mega re-ballot on 22nd of April 2019. It is coined as “Re-Ballot 2”, and different from the previous ballot in December 2018, this re-ballot appears to have included a large number of residential property files.
More than 10,000 files have been integrated in this re-ballot, however, we will update the confirmed information once it is disclosed officially.
The next re-ballot is anticipated to be held by August 2019 which will include the left-over residential property files, and also it may include leftover houses as well as commercial plots.
We will update you soon as more information about the “Re-Ballot 2” results is available to us, so keep checking back to find out more updates!
“Since Gwadar port is a world-class facility, it requires high-tech coastal engineering, state-of-the-art dredging and modern craftsmanship. According to our master plan, it will take almost 20 to 25 years to develop the port.” --Naseer Khan Kashani, chairman of the Gwadar Port Authority
The chairman of GPA discussed the major projects in Gwadar such as Gwadar International Airport, East-Bay Expressway, coal-based power plants, Pak-China technical and vocational institute, projects for portable water, a China-Pakistan Friendship Hospital, a project called ‘Clean and Green Gwadar’ for the local environment and the Gwadar Smart port city master plan. Gwadar city master plans have all the specifications.
According to the chairman, all these projects are at different stages of completion. And thus, it will take 20 to 25 years to make Gwadar an ideal region for investment. The revival of Gwadar property market will take place.
Hopefully, once the port is built, other Pakistani industries, like Gwadar property market, will slowly move in. And then commercial activities will follow. After such a momentum builds, Gwadar will be ready for tourists.
Consent for construction of 1.5 lakh housing units in multiple cities of Punjab by the end of 2019, under the Naya Pakistan Housing Scheme, has been given.
The meeting of Punjab Housing and Town Planning Agency (PHATA) presided by Minister for Housing and Urban Development Mian Mehmood-ur-Rasheed was conducted recently in Islamabad.
The procedure of land possession has been accelerated in the cities of Lahore, Chiniot, Faisalabad, Sialkot, Layyiah, Jhelum, Quaidabad, Sargodha, and Bhakkar. According to recent news, 135,000 housing units would be constructed across the country in the first phase of the scheme.
The applications acceptance of low-cost homes for respective cities will be commenced after Eid-ul-Fitr. Agreements of infrastructure development and out-plans in the provision of the construction of housing schemes will also began.
What made us sheltered and secured? A reasonable house of course! This statement will no doubt stay valid for quite a while. In the 21st Century, developing industrialism, low budget plan, and growing inflation patterns contort the trends towards residential property especially small houses.
Keeping these focuses on thought, a private society was propelled by the name of 'Pak-Arab Housing Scheme', in the center of Lahore in 2003. This scheme is now a golden investment attraction for financial specialists.
Pak Arab Housing Society is the crux of WAK Group’s opulent experience of real estate development. The scheme is envisaged to provide affordable shelter in a sustainable environment. It originates with the inauguration of Lahore’s first private housing society presently known as DHA Phase 1 in 1960's. PAHS is mainly devised to suit the housing needs and ambitions of the middle and lower revenue sector who form approximately 90% of the total annual demand of around 5 million worth of residential property in Pakistan. Growing consumerism, low budgets, and media aplenty have collaborated to release a general inclination for small houses equipped with 21st-century facilities.
WAK Group is the inventor and owner and of this housing scheme. The group has advanced contribution in real estate market of Pakistan. The company propelled its first project in 1960; now known as 'DHA Phase-1'. The credit for the development of few projecting schemes including Canal Park, Sui Gas Housing Scheme, and River Edge goes to these inventors. After the efficient completion of stage 1, PAHS similarly launched Phase-2 in 2013.
The society is located between Defense Road and Ferozepur Road Lahore. It is at a distance of around 5 KM from DHA Phase 3 and 4.
In case you need a place to dwell from where you can go for shopping to Liberty or DHA without much of discomfort & long distance, and if you have a limited budget power for real estate investment; Pak Arab Housing Scheme is the perfect choice for you.
PAHS has 10 marla, 5 marla, and 3 marla residential plots. Society has begun to prompt investors due to its primary area and nature of formative development.
The housing society is designed to ease traffic troubles and therefore, you can see swelled interest for residential plots here.
In PAHS, 10 Marla, 5 Marla, and 3 Marla plots are available at PKR 95 lakh, 60 lakh, and 45 lakh correspondingly. Keeping in view the augmented demand in the recent real estate market, the prices are expected to go up by 114%, 72%, and 54% one-to-one.
Succeeding the successful transfer of almost 60% of plots in phase 1, PAHS has sprung phase 2 where development is already proceeding.
The housing society is devised to deliver the following basic facilities to the inhabitants:
“The country will develop when the weak segments of the society are cared for by the state.” --PRIME MINISTER
Held at the Balochistan University of Information Technology, Engineering and Management Sciences, the event was attended by Chief Minister of Balochistan Jam Kamal Khan, Governor Amanullah Yasinzai, Federal Minister for Housing Tariq Bashir Cheema, federal and provincial cabinet members and senior government officials, besides a huge number of students. The development of new projects in Pakistan was also discussed at the ceremonial.
In the ceremony, PM Imran Khan has laid the foundation stone of Naya Pakistan Housing Scheme in Quetta and expressed his government's pledge to uplift Balochistan to make it at standard with developed parts of Pakistan.
Directing the ceremony after laying the foundation stone of Naya Pakistan Housing Scheme in Quetta on 21st April 2019, the Prime Minister said the appropriation of the country by the political parties has caused grave harm to it.
The project of 5 million houses is to fulfill the dream of those who could not afford to build their own house particularly the salaried and other low-income groups. That is why the government has inaugurated scheme for low cost plots for sale in Pakistan.
Read the statistics of Naya Pakistan Housing Scheme.
New Lahore City is a highly extravagant housing society that is advancing as one of the top alternatives for investment and residence around the city. Appealing location, modern framework, astounding attractions and modern commercial area on this venture makes it a perfect decision for investors and purchasers. New Lahore City has increased the overwhelming response of purchasers for its appealing arrangements of commercial and residential property for sale. In any case, as the demand for property in Pakistan is expanding with each day, New Lahore City by Zaitoon Group has launched a new booking deal. Let’s delve further into how society is organized and what it offers to its people.
Location
New Lahore City is situated along the Canal and is just 1.5 kilometers away from Bahria Town Lahore. The society is in close vicinity to NFC’s Phase II and features an address locality in the center of a populated and well-developed area.
Major areas of the city are easily reachable from the society. As locality is one of the main features that affect a project’s future scenarios, New Lahore City scores sufficiently in this regard.
Phases
The housing society is divided into 5 blocks, namely the Platinum Enclave, Overseas Block A, Premium Enclave, Royal Enclave, and Pearl Enclave. Each of the blocks offers 10, 7, 5, 3 Marla and 1 Kanal plots. 2 Kanal plots are only obtainable in Overseas Block A.
As the demand for property in Lahore is exceeding exponentially, society has launched phase II. The residential area in phase II of the society has been divided in 5 blocks, namely, Premium Houses, Premier Houses, Royal Enclave, Pearl Houses and Platinum Houses. Development here is rapid and the construction stages are being overcome efficiently.
Zaitoon Group recently announced a booking deal of Phase 4, having residential plots of 5 and 10 marla. It has payment plan of 3.5 years and booking starts from 10% only.
| PLOT SIZE | DOWN PAYMENT | PER MONTH INSTALLMENT | BI-ANNUAL INSTALLMENT | TOTAL PRICE |
|---|---|---|---|---|
| 5 MARLA | 295,000 | 29,500 | 80,142 | 2,095,000 |
| 10 MARLA | 595,000 | 59,500 | 128,714 | 3,995,000 |
The society has lately launched a new deal of commercial plots in it. Yes, to understand the rising demand of commercial plots in New Lahore City, Zaitoon Group has recently launched a new deal of 8 Marla, 4 Marla & 2 Marla commercial plots on appropriate payment plan. Booking of the plots has already begun and easy installment scheme is surely increasing its demand more.
| PLOT SIZE | DOWN PAYMENT | PER MONTH INSTALLMENT | BI-ANNUAL INSTALLMENT | TOTAL PRICE |
|---|---|---|---|---|
| 2 MARLA | 600,000 | 60,000 | 125,714 | 4,000,000 |
| 5 MARLA | 1,495,000 | 149,500 | 317,285 | 9,995,000 |
| 8 MARLA | 2,395,000 | 219,500 | 398,000 | 14,400,000 |
Investment activity is proceeding at a steady rate, the society has accomplished to lure in a respectable amount of investment. Furthermore, this project has the potential for progression when possession is granted and as the rates in areas without possession are considerably lower than those in Overseas Block A. So, it may make sense to invest in the other blocks right now.
Next Home being the best property portal in Pakistan highly recommends investing in this new deal. You can sell out the plot after the investment of 2 to 3 years that will return you with auspicious profit. It’s a good choice to start your own business in the next couple of years, as the possession will be granted soon.
Good luck!
With the erratic ascent and falls in the property market in Pakistan, individuals who are keen on land and much inquisitive to think about the fate of real estate in Pakistan. Potential investors are continually admiring what lies ahead and early bits of knowledge can enable readers to think about the further shake-up in the property.
In 2018, we witnessed that the real estate market is in energetic progress about folks as well as in the development point of view. We also observed property scams, frauds, and scandals at various regions of the country. So, it is an inquisitiveness of people to know about the upcoming status of the property market especially regarding Gwadar updates and Lahore property market updates.
We have observed substantial growth in some areas in 2018 including probably each province of Pakistan. It seemed to be a contest for developers who wanted to grow the real estate market at a customary level. Lahore, Karachi, Islamabad, Quetta, Faisalabad and many other considerable areas of Pakistan can be included in that list. Contractors are looking for the engaging spots of the provinces to attack the folks for a cost-effective investment.
If we talk about those who are interested in making the best investment, prevailing housing market scams make people rational enough to decide why, where and how to invest in the market. And 2018 showed a number of property scams.
From last month property prices are getting down due to the extending podium of real estate which is providing the people more opportunity to invest in property to make it an asset.
In terms of development and construction, the market is expected to be steady and offer boundless opportunities. The best properties to invest in 2019 lie in residential and commercial plots for sale in Bahria Town Lahore, Gwadar Port; considering the effectiveness and risk factors of these areas. Click here to read about the latest Bahria Town Lahore prices updates on residential plots for sale.
With the notice of current property tax of more than 05 Lacs for those who purchase land, property drift is expected to decline but this decrease is not anticipated to be a long-term one. The tariff varies according to the investment choice that one makes. People are trying to find a solution of this problem and discuss the issue with their property consultants to subsidize towards the steadiness of the real estate market.
When it comes to the real estate market of Pakistan, it seems more like a market of purchasers than the sellers. The fact is, commercial or residential properties for sale are always more in number than the number of purchasers. The actual purchasers are normally waiting for the rates to drop so that they can buy commercial and residential property for sale at cheaper rates. In this respect, the sellers are even more eager than the purchasers as they face difficulty in finding trustworthy buyers.
It is believed that people who want more western prospects are interested to buy farmhouse lands and Defence property, that lets the property contractors to offer an extensive range of modern and natural housing facilities. There are presently a lot of openings for buying commercial or residential property for sale in Lahore, but now people are looking for an all-in-one opening where they can enjoy safe investment with a gorgeous lifestyle and at reasonable rates.
Next Home provides the best property consultancy regarding houses for sale in Bahria Town Lahore and other areas to meet all your real estate demands and keep you connected. We have the best team of property consultants holding skills and the required real estate knowledge to accommodate your property demands perfectly.
Lotus Group recently launched Lotus - Apartments & Villas, in New Lahore City, Canal Bank Road, Lahore. According to Lotus Group, Lotus was designed to keep in mind the low budget buyers, that are often neglected by most of the real estate developers.
Lotus is offering:
All properties are being offered on easy instalment plan of 2 years and booking starts only from 10%. Lotus is offering two types of payment plans: quarterly instalment plan & construction growth based payment plan. Each buyer may choose payment plan according to it's own comfort and satisfaction.
Next Home is exclusive sales & marketing partnert of Lotus - Apartments & Villas. For booking & details, call: 03006305005
A Peshawar High Court bench has pointed the federal government to grant funds to the Sui Northern Gas Pipelines Limited within a month to supply natural gas to the provincial assembly’s constituency in Mardan, PK-55.
Chief Justice Waqar Ahmad Seth and Justice Abdul Shakoor delivered the directions before disposing of an appeal, which had challenged the suspension of work on the gas supply project launched during the last government.
The government had claimed that it had transferred PKR 142.882 million to the SNGPL’s assignment account for the gas project and PKR 115.28 million of it was spent on 76km gas pipeline network.
The lawyer of SNGPL declared that funds for the project were sanctioned on Jul 20, 2017, before PKR 142.88 million was released to the SNGPL as the technical supplementary grant. But now, the court has ordered the endowment to be splurged again.
For more updates and news, stay tuned to Next Home.
“Instead of increasing the water tariff, the agency wanted to bring more people into the tax net.” --WASA Managing Director Raja Shaukat Mehmood
The Water and Sanitation Agency (WASA) has launched a crackdown on more than 8,000 defaulters in the 46 union councils of Rawalpindi.
“The agency would arrest defaulters under Section 33 of the Punjab Development Cities Act 1976 and their properties can be confiscated under Section 81 of Land Revenue Act”. --Managing Director WASA
The managing director said that during the last six months, WASA collected Rs95 million dues from defaulters. He expressed the hope that the civic agency would achieve the target of Rs200 million by the end of the current fiscal year.
For more updates and news, stay tuned to Next Home.
Second consultative negotiation of the Federal Commission on review of Islamabad Master Plan 2020-2040 was held on May 16th at the Pak- China Friendship Centre Islamabad.
“Work for the revision of Bylaws and will be finalized soon. Approval will be sought from the CDA Board within four weeks.” --CDA Retd. Officer Hafiz Ehsan Ullah
A facility of an online forum will be made available to the public for submission of their inputs into the Master Plan Islamabad.
Under discussion, matters included gaps in the IMP of 1960 until now. Continued problems and scopes of improvement were welcomed from the participating parties. These included several NGOs, international organizations, private associations, consulting town planners, architects, and engineers.
For more information, stay tuned to Nexthome.pk
The Punjab Government has given an approval of nine development schemes worth PKR 48 billion on May 14.
P&D Chairman Habib-ur-Rehman Gilani chaired meeting of the Provincial Development Working Party (PDWP) for the current financial year 2018-19. In it nine development schemes were approved including:
GIS Integrated Computerization of Urban Immovable Property Tax (UIPT) System at the cost of PKR 996.584 million,
Rural Accessibility Program (RAP) for 2018-19 pertaining to Punjab Highways Department North Zone at the cost of PKR4.889.157 billion,
Water Supply Scheme, Fazaiya Housing Colony Turnol Tehsil, and District Rawalpindi at the cost of PKR 547.089 million,
Rural Accessibility Program (RAP) for 2018-19 pertaining to Punjab Highways Department South Zone at the cost of PKR 6.157.831 billion,
DG Khan (Umbrella PC-I) at the cost of Rs559.988 million, dualization of Khanewal-Lodhran Road at the cost of PKR 22.295.157 billion,
Rural Accessibility Program (RAP) for 2018-19 pertaining to Punjab Highways Department Central Zone at the cost of PKR4.394 billion,
Progressing Punjab by Entrepreneurial Development of SMEs (PPED) at the cost of PKR 6 billion
Developing SME sector through Loan Markup Support Program (LMSP) at the cost of PKR 3 billion.
