Overview Of Construction And RealEstate Industries In Pakistan
The construction Industry as being observed by keys analysts is having boom these days property value is raised and the relieve of taxes by federal government has added more sparkle to real estate Industry.
Each year Federal Budget is passed under which different sectors are passed through the exemptions and tax phase, its pretty much fortunate for the Building and construction Industry that they have been given relief and taxes have been waived off from them in 2015-2016. The construction Industry as being observed by keys analysts is having boom these days property value is raised and the relieve of taxes by federal government has added more sparkle to real estate Industry’s sky.
A person who gets into transaction of selling his or her property to a Real Estate Investment Trust which is usually done to form a housing scheme such transactions are not taxable till 30th June 2018. Apart from this information if any REIT scheme project for housing is setup up to the date of 30th June till year 2018 they shall avail 50% tax waiver on chargeable dividend income.
Another relief given to construction Industry is the sales tax relief to the supply of crushed stone and bricks from Sales Tax up to 30th June 2018. The custom duty which is applicable on used transit miners, mobile canal lining equipment, truck mounted lories, crane lories, dump trucks concrete placing trucks, and some other heavy equipment have been given relief as duty of about 30 to 20% has been waived off.
Construction Industry overview
It is generally been observed that the building and construction Industry have reached to good heights in the early month of 2016. The expectation did not really reach to its mark in February as it was said hoped but the price levels got high and declines were not observed.
Real Estate Market of Lahore
The real estate analysis states that in the first two month of 2016 the construction industry has availed benefit where positive increase in prices of Bahria Town upto 5%.
The rumours were up in the air that Lahore’s Ring Road would be running and passing through Bahria Town but Malik Riaz’s established trust in the public remained stagnant. Bahria town’s advertisement in paper media that they have resolved the matter at higher levels this boosted the Bahria’s image even more.
Good gains were reported by Bahria and DHA as phases from 1 till 6 got favorable response from investors in 1 kanal category, part from this phases in of DHA 7,8 & 9 reported more than 1% raise in prices.
Experts believe that the phase 8 and 9 of DHA and Prism 9 located in the city of Lahore are one of the potent locations in Lahore which are gaining favorable returns against their investments, apart from this phase 5, 6 and 7 are favorable for home builders.
Buyers who have interest in DHA can go for Bahria Town, Dha Rahbar pahe 1 and 2,Sukh Chayn Garden, NFC Phase 1,Valencia Town.
The traffic flow has disturbed the societies between Thokar Niaz Baig and Hadiyara Drain. The CM Punjab respectable Mr.Shahbaz Sharif has now approved the project of widening the road between the two points Thokar Niaz Baig and Hadiyara Drain on the date March 3 2016. The project is designed to make new road which shall have four lanes to improve traffic flow.The Lahore Ring road’s slothy progress is holding is pausing investors from making investment in Fazia House Scheme Phase 2, once the Ring Road Project reaches to its completion then the roads of Ring Road shall themselves will make it easy to reach the Fazia scheme.
Real Estate Market of Islamabad
With stable pattern of performance unlike the first month of year passed the property value position remained same in February 2016. Prices of 1 kanal in Bahria of sector F-11 and DHA remained same throughout.
Opportunities of Investment in Islamabad the capital. It is believed by many analysts that the plot suitable for short time investments may include f-17,E-11/3,E-11/1,D-13,C-17,C-16,C-15,B-17 and I-12 apart from these real estate industry observer also suggest that short term investments will be favorable in G 11,10,9,8,7,6.