RAWALPINDI – The Punjab government has officially notified new property tax rates, marking a significant development in the province’s real estate sector. This move follows the restoration of online registration services by the Board of Revenue and the Registration Branch, allowing property transactions to resume after a temporary suspension.

According to the revised rates, capital gains tax and advance tax brackets have been adjusted based on the value of properties and the filer status of buyers and sellers.

For property sales:

  • On properties valued up to Rs50 million, the capital gains tax is 4.5% for active filers, 7.5% for late filers, and 11.5% for non-filers.

  • For properties worth between Rs50 million and Rs100 million, active filers will pay 5%, and late filers 8.5%.

  • Properties exceeding Rs100 million will be taxed at 5.5%, though non-filer details were not explicitly mentioned in this tier.

For buyers, advance tax rates have also been updated:

  • Buyers of properties worth up to Rs50 million will pay 1.5% if they are active filers, 4.5% if late filers, and 10.5% if non-filers.

  • For properties ranging between Rs50 million and Rs100 million, the rate is 2% for filers, 5.5% for late filers, and 14.5% for non-filers.

  • Buyers purchasing properties above Rs100 million will face an advance tax of 2.5% if they are active filers and 5.5% if late filers.

A formal gazette notification has been issued, confirming that registry and transaction services have now resumed across Punjab. The government emphasized that these changes aim to improve tax compliance, enhance transparency in property dealings, and generate additional revenue for the provincial exchequer.

The updated rates are expected to influence the buying and selling patterns in the real estate market, especially among non-filers who now face significantly higher tax obligations.