Non-filers will be permitted to purchase properties worth up to Rs10 million as part of new recommendations finalized by the task force on real estate and construction sector revival.
The Ministry of Housing has submitted these proposals to the Federal Board of Revenue (FBR), aligning with the Prime Minister’s goal of boosting employment through the sector’s recovery.
According to sources, tax reductions have been proposed to facilitate property transactions for non-filers. The recommendations include lowering capital gains tax under Section 236-C from 3% to 1.5% and from 4% to 2%. Additionally, tax on property purchases under Section 236 is expected to drop from 3% to 0.5%.
Currently, the total tax burden on property transactions ranges between 11% and 14%. The proposal seeks to bring this down to 4%–4.5%, making transactions more affordable.
Overseas Pakistanis will also receive easier access to property investments, with NADRA set to introduce an online registration facility for buyers abroad.
Under the proposed measures, filers will be able to declare properties worth up to Rs50 million in their wealth statements, while non-filers will be allowed to purchase properties up to Rs10 million.