Islamabad
The Capital Development Authority (CDA) has rolled out a series of new taxes on real estate properties in Islamabad, as per an official notification.
These taxes, aimed at generating revenue, have significantly increased financial burdens on landowners in the region.
Under the revised tax structure, owners of 140 square yards plots in various sectors and housing societies, including Shehzad Town, Margala Town, and Rawal Town, are now required to pay a hefty sum of Rs24,000 in taxes.
This development is set to impact numerous small-scale property owners in the federal capital. The imposition of taxes on farmhouses is particularly noteworthy.
Owners of farmhouses spanning eight kanals are obligated to pay Rs180,000 in property tax, while those with larger properties ranging from 90 to 120 kanals face an even more substantial tax bill of Rs442,000.
These elevated tax rates are poised to reshape the financial landscape for farmhouse owners across Islamabad.
In the commercial hub of the blue area, commercial properties are now subject to significant taxes.
Ground floor establishments face a tax of Rs32 per square foot, while basement spaces are taxed at Rs22 per square foot.
Moreover, residential apartments in this vicinity will incur a tax of Rs26 per square foot, adding to the financial burden on property owners.
The notification also delineates taxation rates for various other commercial entities. Private hospitals will be taxed at Rs22 per square foot, while petrol pumps and CNG stations will face a tax of Rs180 per square yard. Marquees and marriage halls are also included, with a tax rate of Rs13 per square foot.
While these taxes are expected to boost revenue for the CDA, they have raised concerns among property owners, especially smaller stakeholders and farmhouse owners, who anticipate significant financial strain as a result.
