By: Asif Mehmood Awan
Property Dealers Association Abbottabad has presented demands to resolve issues related to real estate. The government should relax policies to increase revenue. Due to heavy taxes, the sale and purchase of land has come to a standstill, which has also damaged the government treasury. While holding a press conference at the Abbottabad Press Club, President Qazi Shafiqur-ur-Rehman, Amjad Khan Jadoon, Musa Khan Vice President, Raja Ijaz, Malik Farooq and other officials said that land in Abbottabad should be determined according to the DC rate, there is concern over giving authority to the FBR. The Property Dealers Association Abbottabad also stressed on bringing unregistered dealers under the ambit who are causing disrepute in the name of real estate. The district administration should rein them in.
The speakers said that the real estate sector is in a state of distress due to the policies of the provincial and central governments. The issue of house cultivation and house ownership should also be resolved. They said that due to the increase in land rates by the government, investors have stopped investing in the purchase and sale of land. In the current budget, the central and provincial governments have proposed a reduction in taxes. While the FBR has the authority to determine the rate, there are concerns. The leaders of the Dealers Association said that according to the new policy, one percent on a property worth Rs 2.5 crore, which is Rs 2.5 lakh per annum, if someone does not pay, it will be collected at the time of transfer of the property and it will be withdrawn. They said that most of the land is hereditary and the condition of filers and non-filers should also be abolished. They have proposed the formation of a council at the provincial and central levels to solve property problems. They have also demanded the formation of a new district. They have also demanded that the rates of Mirpur village be registered and transferred according to the DC rates.
