The government has prepared a rescue package for the real estate and housing sector to benefit the public.
The package, designed by the working group of 11 members of the Ministry of the Ministry, includes significant tax revisions and recommendations to revitalize the sector, reported Express News.
The proposals of the working group, presented to Prime Minister Shehbaz Sharif, suggest several measures to support the sector.
Among the key recommendations are the construction of three -story houses, offering it full tax exemptions for new house buyers and the reduction of tax transactions.
The working group has also recommended reducing the sales tax by 4% to 2%, reducing the buyer’s tax by 4% to 0.5% and eliminating federal expansion duties Real estate transactions.
In addition, the proposal includes the provision of housing grants for low -income people and the loan offer for the construction of a house with reimbursement periods ranging from 5 to 20 years.
Prime Minister Sharif provided a crucial meeting on February 3 to examine the recommendations and make a final decision on the issue.
A few days ago, the Punjab government decided to establish a special planning authority to regulate the use of urban and rural land, aimed at limiting the rise of illegal housing companies across the province.
Head Minister Punjab Maryam Nawaz chaired a high -level meeting where the proposals were examined to introduce uniform zoning and land use regulations for commercial and residential areas.
The plan also focuses on the creation of environmentally friendly housing programs adapted to pedestrians, aligning on modern urban standards.
The Punjab Special Planning Authority (PSPA) will supervise the zoning of commercial, residential and agricultural land, while developing plans for the use of district lands.
These plans will be examined every four years to ensure sustainable urban growth.
To strengthen the application, each district will have a special land use committee, led by the sub-commissioner, with a representation of key services suppliers, notably Wapda, Suit Gara and Wasa.
The government also plans to introduce a digital surveillance system to monitor and prevent violations of the use of land in real time.
During the meeting, the CM ordered an immediate resolution of requests from the pending housing sector and called for daily progress reports on the Lahore development plan.
Officials informed it that electronic tension had caused significant savings, 414 development plans already underway in the first phase of the Lahore development plan.
