Property Tax Hike Hits Islamabad Land Owners Hard
By
March 25, 2024
Attention all property owners in Islamabad! Brace yourselves for some important news. The Capital Development Authority (CDA) has rolled out new taxes on real estate properties across the city.
If you own a plot measuring 140 square yards in areas like Shehzad Town, Margala Town, or Rawal Town, get ready to shell out Rs24,000 in taxes, as per the latest notification from the CDA.
But wait, there’s more. If you’re the proud owner of a farmhouse spanning eight kanals, be prepared to pay a hefty property tax of Rs180,000. And if your farmhouse is bigger, ranging from 90 to 120 kanals, get ready to cough up Rs442,000.
For those with commercial properties in the blue area, here are the new rates: Rs32 per square foot for ground floors, Rs22 per square foot for basements, and Rs26 per square foot for residential apartments.
But that’s not all. The notification also mentions property tax rates for other establishments: 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.
These changes might impact your budget, so make sure you’re aware of the new tax rates to avoid any surprises!
