Property Dealers Resist Additional Taxation in Lahore’s Real Estate Sector

Lahore’s property dealers are voicing strong opposition to the government’s proposed additional taxes on the real estate sector, as suggested by the International Monetary Fund (IMF). According to Muhammad Saeed, Chief Coordinator of the Property Dealers’ Association, the sector is already burdened with five different taxes, which have led to a 75% drop in plot sales in the city.

Saeed emphasized that high interest rates and lack of incentives are driving investors to foreign markets like Dubai. He urged the government to lower interest rates and provide supportive measures to revive the local real estate sector, highlighting the crucial role it plays in economic stability and growth.

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