Bahria Town Lahore has emerged as the most in-demand housing project in Lahore. It attracts countless potential buyers and investors. As with any property transaction, buying or selling property in a housing project often incurs additional charges. In this blog, we will explore these extra charges, such as transfer fees, stamp duty, TMA, and income taxes, specifically for 5-marla, 10-marla, and 1-kanal plots in Bahria Town Lahore.
Transfer Fee
When you buy a property in Bahria Town Lahore, one of the primary charges you must pay is the transfer fee. The buyer pays this fee to the housing society to facilitate the transfer of ownership from the seller to the buyer. Transfer fees for various plot sizes in Bahria Town Lahore are as follows:
- 5-marla plot: PKR 112,320/-
- 10-marla plot: PKR 250,560/-
- 1-kanal plot: PKR 475,200/-
Please note that these figures are subject to change according to the prices of the property, and it’s essential to confirm the exact transfer fee amount with Bahria Town Lahore’s management.
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Stamp Duty
Stamp duty is a government tax levied on property transactions to legalize the sale-purchase agreement. This tax is calculated based on the property’s value and must be paid by the buyer. It is 1% of the price of the property. The current stamp duty rates in Bahria Town Lahore for different plot sizes are:
- 5-marla plot: PKR 54,375/-
- 10-marla plot: PKR 108,750/-
- 1-kanal plot: PKR 217,500/-
TMA and Income Tax
Town Municipal Authority (TMA) charges are another expense a buyer must pay when purchasing property in Bahria Town Lahore. This fee covers the cost of maintaining and improving the area’s infrastructure. Additionally, the buyer is liable to pay income tax on the property transaction, which is calculated based on the property’s value. The TMA charges are also 1% of the property price. TMA charges for plots in Bahria Town Lahore are as follows:
- 5-marla plot: PKR 54,375/-
- 10-marla plot: PKR 108,750/-
- 1-kanal plot: PKR 217,500/-
Income taxes for filers and non-filers are charged differently. Filers pay 2% of the property price, and non-filers pay 7% of the property price. Following are the complete details of these charges.
Purchasing a property in Bahria Town Lahore is an exciting investment opportunity, but it’s crucial to be aware of the additional charges involved. As a buyer, you must account for transfer fees, stamp duty, TMA charges, and income tax. By understanding these expenses beforehand, you can make an informed decision and budget for your dream property in Bahria Town, Lahore. For more information, stay tuned with CDB Properties.
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