Real Estate Investment Guide For Overseas Pakistanis 2022-2023
Table of Contents
Real Estate Investment Guide For Overseas Pakistanis 2022-2023, Here is an easy investment guide for Pakistanis abroad as they have many options when it comes to real estate investment.
Housing projects are in high demand and governments tend to support the construction sector. He explains why they prefer to invest their hard-earned money in real estate in Pakistan. Overseas Pakistanis can invest in Pakistan by sending a check/money order in a paid currency to the Director of the National Savings Center and a copy of the officially completed application, passport and ID card.
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The Pakistani government attaches great importance to the presence of Pakistanis abroad. Foster and nurture symbiotic and mutually beneficial relationships between Pakistan and Pakistanis abroad. Overseas Pakistanis can not only earn foreign exchange but also contribute much more. It is important that you play your part in image building, technology transfer and investment growth. And with continued efforts, Pakistanis abroad can achieve tangible results.
Today, Pakistan has significant investment opportunities through an aggressive privatization initiative. Investing in Pakistan is entering a sustainable and rewarding phase. Compliance with the guidelines will help Pakistanis abroad to invest.
- Pakistan is the 5th most populous country in the world, with 220 million citizens, more than 60 million strong labor force and a growing middle class.
- Out of total population, 36.38% resides in urban areas whereas 63.62 lives in rural parts.
- There is a growing demand for houses due to a 2.4% annual population growth rate as per census 2017.
- The country’s construction industry accounts for 2.53% of Gross Domestic Product (GDP) according to the Pakistan Economic Survey. The sector employs 7.61% of the employed Pakistani labour force.
- GFCF in private sector grew by 20.6% between FY2019 and FY2020. Private sector GFCF amounted over 95% of the total.
- China Pakistan Economic Corridor (CPEC) has given a boost to the construction sector through the influx of infrastructural projects including highways, power plants, and dams.
Real Estate Investment Guide For Overseas Pakistanis 2022-202-Milao Haath
PROJECTED GROWTH
Real Estate Investment Guide For Overseas Pakistanis 2022-2023, Despite declines in gross domestic product (GDP), public sector spending on infrastructure and foreign direct investment (FDI), the outlook remains positive due to the government’s unprecedented reforms through restructuring, improving the regulatory environment and introducing stimulus and relief packages.
Construction Industry Value Projections/ milaohaath.com
INCENTIVES OFFERED BY THE GOVERNMENT
Construction Sector Granted Status of Industry
The Income Tax Ordinance has been amended to declare construction sector as an industrial undertaking, making it eligible for benefits and concession available to other industries.
New Fixed Tax Regime from Tax Year 2020 and Onwards for Eligible Builders and Developers
An optional ‘Fixed tax regime’ from tax year 2020 and onwards for eligible builders and developers has been introduced on the income, derived from the sale of buildings or sale of plots, from a new or an incomplete existing project. Prior to this, tax was levied on a net income basis. Rate and computation of liability is determined under rule 10 of the eleventh schedule
Exemption of Withholding Tax on Purchase of Building Materials
Eligible Developers and Builders shall be exempted from withholding taxes on purchase of building materials. Dividend income paid to a person by a builder or Developer Company out of the profits and gains derived from a project shall be exempt from tax and also from tax withholding obligations.
Exemption of Capital Gains Tax
Capital gains received by an individual on the sale of residential property (personal/family) house or flat, have been exempted from income tax.
Banks to increase credit for financing the housing & construction sector
With a view to promote housing and construction of buildings (Residential and Non-Residential) in Pakistan, State Bank of Pakistan (SBP) has decided to advise mandatory targets to the banks. Accordingly, each bank shall ensure that the financing for housing and construction of buildings (Residential and Non-Residential) shall be at least 5% of their domestic private sector credit by December, 2021.
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Key Information
- There has been a steady increase in the inbound arrivals and consequently in the inbound receipts. The increase is mainly attributed to the drastic improvements in the government‘s effort to provide peaceful and secure environment.
- The hotels & motels industry value consists of all revenues generated by hotels, motels and other accommodation providers through the provision of accommodation and other services.
- Foodservice is defined as the value of all food and drink, including on-trade drinks not drunk with food, for immediate consumption on the premises or in designated eating areas shared with other foodservice operators, or in the case of takeaway transactions, freshly prepared food for immediate consumption.
- The airlines industry comprises of passenger air transportation, including both scheduled and chartered, but excludes air freight transport.
Real Estate Investment Guide For Overseas Pakistanis 2022-2023/ milaohaath.com
Determining property for investment for overseas Pakistanis
When planning to buy a property, the first question that arises is whether it is safe to invest in a residential project on this property. If it falls under the management of the relevant municipal authorities, it is certainly a safe investment opportunity. Also, check if the government agencies approve the housing strategy. If the project is still awaiting government approval, warning potential buyers should be enough. The lack of approval means authorities have shut down the housing program in most cases. Therefore, it is safer to only invest in known and approved projects.
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Asking builders
Developers and builders can rest assured that they are well known in the real estate market with a track record of successful residential projects. You can invest in the different housing options they offer. In most cases, a trusted developer will provide a timeline for completing the project. They can make decisions based on how well and how fast they are working on a running program. It will help you determine if they are delivering on time.
When choosing a property, whether to buy or even rent, the general rule is to decide based on what you see and not based on “what they promise to deliver”. Ask yourself the following questions: Is electricity, gas and water available? How robust is the basic infrastructure, eg roads and drainage? How do people move? Is the security system up to date? Is it a load shedding free zone?
Tracking records of overseas Pakistanis
When the developers and builders are well-known names with a proven track record of successfully developing homes in the real estate industry, you can trust them blindly. You know great residential projects. You can invest your money in the many housing options they offer. They can make their decisions based on how well and quickly they are working on an ongoing project.
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Helps assess whether they will produce as planned.
Analyzing portfolio
As different markets move up and down, a diversified portfolio of different types of mutual funds helps stabilize the portfolio throughout the economic cycle. If you invest exclusively in a specific market, sector or company, you may face unexpected problems in a specific area. You can mitigate potential losses and maximize long-term gains by investing across asset classes, regions and sectors.
Legal affairs-overseas Pakistanis
Always follow legal channels in all financial transactions with business partners. Prepare a written agreement to discuss the rights and obligations of all shareholders/interests and business partners. This partnership agreement must be formally signed by all parties involved. Please note that a solicitor’s general powers have all statutory powers, including the right to sell property without notifying the owner. Requirements for buying real estate in Pakistan:
- Copy of your passport
- NICOP copy
- Six photos the size of passports
- Copy of Pakistan’s departure stamp
- Copy of the living foreign country’s entrance stamp
- Make a list of your immediate family members and take passport-size photos of each.
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Why Investing in Real Estate Is Best Option For Overseas Pakistanis?
Real Estate Investment Guide For Overseas Pakistanis 2022-2023, Real Estate Investment Guide For Overseas Pakistanis 2022-2023, If you are a Pakistani living abroad and looking for a way to save your money and your future, then real estate is the only market that offers the best investment opportunities in Pakistan. The reason to invest in this market is that it is not volatile like the stock market. Also, you will never suffer a loss when investing in real estate. The Government of Pakistan has already made the process easier for Pakistanis abroad by providing facilities that are helpful for easy money transfer such as: B. the Sohni Dharti referral program. Lower property taxes have also helped the market skyrocket. Let’s look at the reasons that prove why real estate investment is the best option for Pakistanis abroad.
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Advancement in Technology
Technology has revolutionized ways of life. It is not difficult to visit a place even if you are sitting out of the country. You can take a virtual tour of your property; You can analyze the market and see prices in seconds. There are dedicated websites where you can search for any property and they save time. The following factors have a positive effect on the real estate market.
- Artificial intelligence
- Virtual reality
- Social media
Invest Today
Without delay, start investing today in those project the have Govt. NOC and enjoy the perks of being overseas Pakistanis. It is the best time to invest in the real estate market because the market is going to peak position, and your investment will never go in vain.
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Provincial Central Data Bank of All Approved/Un Approved Housing Societies/Schemes/Projects
Private Housing Societies in Islamabad Capital Territory
Real Estate Investment Guide For Overseas Pakistanis 2022-2023, In the Interest of General Public and other stakeholders, it is informed that CDA Ordinance, 1960, ICT (Zoning) Regulations, 1992 and the Revised Modalities and Procedures framed thereunder for Private Housing Schemes empowers CDA to regulate Planning and Development of Private Housing Schemes.
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- Technical approval of Layout Plan (LOP) of the scheme.
- Upon completion of subsequent formalities, the No Objection Certificates (NOC) for development of the scheme is issued. The sponsors can start development work and sale of plots after obtaining NOC from CDA.
| Name | LOP | NOC |
|---|---|---|
| Cancelled | Not Issued | |
| Approved | Not Issued | |
| Approved | Issued | |
| Approved | Cancelled | |
| Approved | Not Issued | |
| Approved | Issued | |
| Approved | Not Issued | |
| Approved | Not Issued | |
| Approved | Issued | |
| Approved | Issued | |
| Approved | Not Issued | |
| Approved | Not Issued | |
| Approved | Issued | |
| Approved | Not Issued | |
| Approved | Issued | |
| Approved | Issued | |
| Provisional Approval | Not Issued | |
| Approved | Issued | |
| Approved | Not Issued | |
| Approved | Issued | |
| Approved | Not Issued | |
| Cancelled | Not Issued | |
| Approved | Not Issued | |
| Approved | Not Issued | |
| Approved | Issued | |
| Approved | Issued | |
| Cancelled | Not Issued | |
| Approved | Issued | |
| Approved | Issued | |
| Approved | Not Issued | |
| Cancelled | Not Issued | |
| Approved | Not Issued | |
| Approved | Not Issued | |
| Provisional Approval | Not Issued | |
| Approved | Not Issued | |
| Approved | Issued | |
| Cancelled | Not Issued | |
| Approved | Not Issued | |
| Approved | Issued | |
| Cancelled | Not Issued | |
| Approved | Issued | |
| Approved | Issued | |
| Cancelled | Not Issued | |
| Approved | Cancelled | |
| Approved | Issued | |
| Approved | Cancelled | |
| Approved | Issued | |
| Cancelled | Not Issued | |
| Issued | ||
| Approved | Issued | |
| Cancelled | Cancelled | |
| Cancelled | Not Issued | |
| Approved | Issued | |
| Approved | Not Issued | |
| Approved | Cancelled | |
| Approved | Issued | |
| Approved | Not Issued | |
| Approved | Cancelled | |
| Approved | Not Issued | |
| Approved | Issued | |
| Approved | Issued | |
| Approved | Not Issued | |
| Approved | Issued |
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Contact with Capital Development Authority for more information.
Chairman Office, CDA Secretariat
Khayaban-e-Suharwardi, Sector G-7/4, Islamabad
09:00-17:00 Monday-Friday
Public Information Officer, CDA
Syed Safdar Ali Shah
Secretary CDA Board, CDA
CDA Secretariat, Block-V, Sector G-7/4, Islamabad
Tel: +92-51-9252972
APPROVED HOUSING SOCIETIES IN PUNJAB GOVERNMENT OF PUNJAB
Real Estate Investment Guide For Overseas Pakistanis 2022-2023, Click on the link below to get all detail about approved housing Societies in Punjab the all information regarding to housing societies are available on there website:
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APPROVED HOUSING SOCIETIES IN PUNJAB
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APPROVED HOUSING SOCIETIES IN KHYBER PAKHTUNKHAWA GOVERNMENT OF KHYBER PAKHTUNKHAWA
Real Estate Investment Guide For Overseas Pakistanis 2022-2023, Click on the link below to get all detail about approved housing Societies in Khyber Pakhtunkhawa, the all information regarding to housing societies are available on there website:
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Private Housing Schemes (PHS) Status
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APPROVED HOUSING SOCIETIES IN SINDH GOVERNMENT OF SINDH
Real Estate Investment Guide For Overseas Pakistanis 2022-2023, Click on the link below to get all detail about approved housing Societies in SINDH, the all information regarding to housing societies are available on there website:
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APPROVED HOUSING SOCIETIES IN SINDH
PROPOSED NEW SCHEMES (2022-23) FOR GOVERNMENT SERVANT HOUSING
Click on the link below:
NOC FOR SALE & ADVERTISEMENT (2022)
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APPROVED HOUSING SOCIETIES IN BALOCHISTAN GOVERNMENT OF BALOCHISTAN
Real Estate Investment Guide For Overseas Pakistanis 2022-2023, Click on the link below to get all detail about approved housing Societies in BALOCHISTAN, the all information regarding to housing societies are available on there website:
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Ongoing Projects
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Gwadar Development Authority
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Bottom-line
Real Estate Investment Guide For Overseas Pakistanis 2022-2023, Overseas Pakistanis can also easily invest within the Pakistan real estate zone. Previously, authorities had made it compulsory for buyers to file tax returns before purchasing land. Pakistanis abroad now no longer fall under the tax net. However, after buying real estate, they have to pay property tax in Pakistan. It will even generate the most remittances and reduce the country’s economic woes. This is all part of the current plan by the authorities to improve Pakistan’s economy.
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Like these, many other facilities are available to Pakistanis abroad. All they have to do is follow the right guidelines to avoid dross.
Price is what u pay, value is what u get …!💜