Lahore | ReNews Pakistan
The federal government has finalised a plan to significantly reduce taxes on the sale and purchase of property in the upcoming budget, aiming to revive the real estate sector and boost construction activity across the country.
The government is currently holding discussions with the International Monetary Fund over this major policy shift. However, the proposed measures have reportedly faced reservations and opposition from the global lender.
Despite the IMF’s strict conditions, the government is moving ahead to finalise the proposals.
Under the proposed relief package, the tax rate for filers on the purchase of immovable property may be reduced from the existing 1.5 percent to just 0.25 percent. In addition, the tax imposed on the sale of property is also proposed to be brought down from 4.5 percent to 1.5 percent.

Lahore | ReNews Pakistan
The Lahore Development Authority (LDA) has introduced a comprehensive plan for the upgradation of Pine Avenue, one of the city’s rapidly developing commercial and business corridors, with the proposed construction of an underpass at Shino Baba Chowk as its central component.
According to the LDA, the authority has forwarded the project to the Punjab government for approval under the Annual Development Programme.
The proposed underpass will be constructed at the junction of Pine Avenue and New Defence Road, while the existing roundabout at Shino Baba Chowk will be removed.
The project is aimed at improving traffic flow on this busy road and reducing vehicular pressure at the important intersection, which connects several residential and commercial areas.

Lahore | ReNews Pakistan
The Lahore High Court has issued strong remarks over the prolonged blocking of citizens’ properties, observing that citizens’ properties cannot be kept blocked for years. The court directed the Lahore Development Authority authorities to complete the relevant proceedings within 3 months.
Justice Masood Abid Naqvi of the Lahore High Court heard the case. During the hearing, the court noted that the matter had been pending since 2014-15 and that the affected party could not be forced to wait any longer. The court observed that keeping a citizen’s property blocked for an indefinite period was not appropriate and that the relevant institutions must decide the matter within the timeframe prescribed by law.
During the proceedings, the court asked the LDA how much time was required to complete the land acquisition process. The LDA representative informed the court that if the affected party agreed to accept an alternative plot, the process could be completed within one month. However, if the decision of the ADCR was set aside, the acquisition process would require another six months.
The court, while responding to the LDA’s position, observed that the affected party was not interested in receiving an alternative plot and instead wanted financial compensation in accordance with the law. Therefore, the court remarked that a further six-month extension could not be granted. The court made it clear that since the matter had already remained pending for several years, any further delay would be against the rights of the affected citizen.
During the hearing, ADCR Karim Dad Chughtai assured the court that the valuation of the land would be completed within one month. The court, however, directed that the determination of the land value be completed within 15 days so that the matter of payment of compensation to the affected party could be taken forward in accordance with the law.
The court ordered the LDA authorities to complete the proceedings within 3 months and sought detailed arguments on legal points at the next hearing.