The economic condition of any country directly affects the business. Recently the government of Pakistan announced tax redemptions in real estate for overseas Pakistanis.
In a recent update government of Pakistan announced that overseas Pakistanis can invest in matured and developed real estate projects in Pakistan without any tax. It is good news for overseas Pakistanis. And an excellent favor for the real estate industry.
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The real estate industry was jammed in the previous few months, and nobody was willing to buy and sell the properties due to heavy taxes. But this new tax redemption update for overseas Pakistanis will urge overseas Pakistani investors to invest in Pakistan and contribute to stabilizing the economy of Pakistan.
Previously, the Punjab government increased the stamp duty from 1% to 3% for all real estate projects. But last week, the stamp duty was reduced and not again 1%. These are some of the latest updates related to taxes in the real estate industry.
After these new updates, the real estate industry will flourish again. We always advise the best to our investors. For more updates, stay tuned with us. For evaluation of your property or buying and selling, you can contact CDB Properties.
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