CDA Imposes Substantial Taxes on Properties in Islamabad
Islamabad: The Capital Development Authority (CDA) has introduced a significant change in the tax structure for real estate properties in Islamabad, directly impacting property owners.
The civic body issued a notification. As per the notification, a tax of Rs24,000 has been levied on the proprietors of 140-square-foot plots located in sectors and housing societies, including Margala Town, Rawal Town, and Shahzad Town.
In Islamabad, the property tax varies based on the property size. For farmhouses
Rs. 180,000 Tax (eight kanals)
Rs. 442,000 Tax (90-120 kanals )
Commercial properties located in the blue area will be subjected to the following tax rates:
- Rs.32 per square foot for the ground floor
- Rs.22 per square foot for the basement
- Rs.26 per square foot for residential apartments
Moreover, taxes for other properties are as follows:
- Rs.22 per square foot for private hospitals
- Rs.180 per square yard for petrol pumps and CNG stations
- Rs.13 per square foot for marquees and marriage halls
Moreover, the Federal Board of Revenue (FBR) has implemented a new requirement mandating the acquisition of a No Objection Certificate (NOC) for transferring residential and commercial properties valued at PKR 25 million or more.
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