Property taxes are the hot topic this year. In the latest announcement, the Government of Punjab has provided a big relief and decreased the property taxes. This is good news for real estate investors as they will have one less thing to worry about. The government is also working on a new system that will make it easier for investors to pay their property taxes. This new system might be rolled out next year.
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In the last few months, property taxes and transfer fees have been increasing daily due to the economic crisis. However, now the government of Punjab has provided relief and broke good news for the real estate investors.
Previously, the transfer fee of the property was increased by 2%. But according to the new announcement, the property transfer fee has only been reduced to 1%. It is great news for property investors Because, in real estate, this 1% reduction in transfer fee can save a big amount. It is expected that the real estate industry will grow rapidly in the coming few months.
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