CDA levies heavy taxes on Islamabad properties

By
Business Desk
A birds eye view of Islamabad. — X/File
A bird's eye view of Islamabad. — X/File 

  • Rs24,000 of tax have been imposed 140 sq.yd housing plots. 
  • Owners of 90 to 120 kanal farmhouses to pay Rs442,000 in tax.
  • Commercial properties in blue area to be taxed at Rs32 per sq.ft.


ISLAMABAD: Capital Development Authority (CDA), the municipal services agency that operates in Islamabad has imposed heavy taxes on the real estate properties in the federal capital, Geo News reported on Saturday.

As per a notification issued by the CDA, Rs24,000 of tax have been imposed on the owners of 140 square yards plots present in the sectors and housing societies including Shehzad Town, Margala Town, and Rawal Town.

Meanwhile, as much as Rs180,000 of property tax has been imposed on the owners of farmhouses spreading over eight kanals, Rs442,000 of tax on owners of 90 to 120 kanal farmhouses in Islamabad.

The CDA in its notification of taxes stated that the commercial properties in the blue area will be taxed at Rs32 per square foot on the ground floor, while the basement will be taxed at Rs22 per square foot and residential apartments will be taxed at Rs26 per square foot.

Moreover, notification stated that the property tax will be levied at Rs22 per square foot for private hospitals, Rs180 per square yard for petrol pumps and CNG stations and Rs13 per square foot for marquees and marriage halls.