The Capital Development Authority (CDA) has introduced a slew of new taxes on real estate properties in Islamabad, burdening landowners with significant financial obligations, according to a notification issued by the authority.
Under the new tax regime, owners of 140 square yards plots in various sectors and housing societies, including Shehzad Town, Margala Town, and Rawal Town, are now obligated to pay Rs24,000 in taxes. This measure is poised to impact numerous small-scale property owners in the federal capital.
The gravity of the taxation becomes even more apparent with the imposition of staggering taxes on farmhouses. Owners of farmhouses spreading over eight kanals are mandated to pay Rs180,000 in property tax, while those with larger properties ranging from 90 to 120 kanals face an even heftier tax bill of Rs442,000. These tax rates are set to reshape the financial landscape for farmhouse owners across Islamabad.
In the heart of the commercial district, the blue area, commercial properties are now subjected to substantial taxes. Ground floor establishments will face a tax of Rs32 per square foot, while basement spaces will be taxed at Rs22 per square foot.
Additionally, residential apartments in this area will be levied at Rs26 per square foot, further increasing financial obligations for property owners.
The notification further outlines taxation rates for various other commercial entities. Private hospitals will be taxed at Rs22 per square foot, while petrol pumps and CNG stations will face a tax of Rs180 per square yard. Marquees and marriage halls are not exempt either, with a tax of Rs13 per square foot.
The implementation of these taxes is expected to generate substantial revenue for the CDA but has sparked concerns among property owners, particularly smaller stakeholders and farmhouse owners, who fear the financial strain it will impose.
