CDA imposes tax on residential and commercial properties in Islamabad
Business
Farmhouses to pay the highest fixed amount
ISLAMABAD (Dunya News/Web Desk) – The Capital Development Authority (CDA) has introduced a hefty property tax on both commercial and residential properties, as the government wants to generate financial resources from the sectors which have always been able to escape the tax net.
In a bid to focus on the housing societies, a notification issued by the CDA says the owners of residential plots of up to 140 square yards in Shehzad Town, Margala Town and Rawal Town would have to pay Rs24,000 as property tax annually.
However, the amount is increased to Rs180,000 for the farmhouses with a size up to eight kanals and Rs452,000 for properties covering 90 to 120 kanals of land.
On the other hand, the commercial properties in located in the Blue Area will be taxed at the rate of Rs 32 per square foot in the case of ground floor and Rs 22 per square foot for basement.
When it comes to the residential apartments, the CDA will collect the property tax at the rate of Rs26 per square foot.
Meanwhile, amount fixed for private hospitals stands at Rs22 per square foot followed by Rs180 for petrol pumps and CNG stations as well as Rs13 in the case of marquees and marriage halls.
