Landowners to pay heavy taxes for properties in Islamabad.

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New property taxes have been announced by the Capital Development Authority.

ISLAMABAD: The Capital Development Authority (CDA) has notified new taxes on the real estate properties in Islamabad, Geo News reported on Saturday.

 

A notification has been issued by the CDA regarding a new tax. Owners of 140 square yards of plots in certain sectors and housing societies such as Shehzad Town, Margalla Town, and Rawal Town will have to pay an additional tax of Rs 24,000. At the same time, owners of eight kanal farmhouses will be required to pay Rs 180,000 in property tax, while those with 90 to 120 kanal farmhouses in Islamabad will have to pay Rs 442,000 in tax.

The CDA has issued a notification regarding the taxation on commercial and residential properties in the Blue Area. As per the notification, the ground floor of commercial properties will be taxed at Rs. 32 per square foot, while the basement will be taxed at Rs. 22 per square foot. For residential apartments, the tax rate is set at Rs. 26 per square foot.

Furthermore, private hospitals will be taxed at Rs. 22 per square foot, petrol pumps and CNG stations will be charged at Rs. 180 per square yard, while marquees and marriage halls will be taxed at Rs. 13 per square foot.

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