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Punjab Govt. to Lower Property Transfer Fee to a Big Down Count.

Lahore, 16th September 2022:

A good step by Chief Minister Punjab Chaudhry Pervaiz Elahi for the betterment of the people of the province. Chief Minister Punjab Chaudhry Pervaiz Elahi has reduced the property transfer fee in the province by a large sum down. Chief Minister Chaudhry Pervaiz Elahi fixed the property transfer fee across the province from high to one percent (1%). The property transfer fee before the gifted initiative was some 14-17%. The implementation of the decision will be immediate. However, a formal compliance order will be issued in the coming days by the Directorate of CM House.

This initiative will resultantly increase the revenue of the Punjab government. Chief Minister Chaudhry Pervaiz Elahi commented about property transfer fee.

He further added that the Punjab Government has taken this decision in the wider interest of the people of the province. This decision will increase the number of registration across the province, likewise, it will awaken the hibernated property potential. The outcome will benefit the masses collectively as the property development sector will regrow to increase the employment vacuum. Thanks to the decision, the initiative will boost the construction industry and create immense employment opportunities. He added.

Our initiative aims to give relief to the people who expected the new provincial government to make a difference for the countrymen of the Punjab province. The meeting was chaired by Chief Minister Punjab Chaudhry Pervaiz Elahi in the Chief Minister House Lahore. Senator member Board of Revenue Zahid Akhtar Zaman, Principal secretary Chief Minister Punjab Muhammad khan Bhatti and Finance secretary Iftikhar Amjad attended the meeting.

Real Estate analysts and property stakeholders lauded the initiative by the Chief Minister.

They labeled the decision as a sigh of relief for the real estate and property sectors in such an inflation-infested time. People’s lethargic interest will rise back after this great initiative of the CM.

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