Karachi: The Sindh government is ready to consider reduction of property tax on every transaction from 7% to 1%. While registration of real estate agencies will help curb fake businesses. As a result revenue will increase for the provincial and federal governments. The Sindh Local Government Minister Saeed Ghani and Revenue Minister Makhdoom Mehboobuz Zaman discussed details with a delegation of the All-Karachi Realtors Association headed by its chairman S.M. Irfan.
The delegation was informed that the Sindh government will launch an online service with computerized land records within a month. Further a one-window facility for approval of building designs, from 66 to 399 square yards, is already in operation.
The Minister advised the delegation to take their request to reduce the federal tax on property from 3% to 1% to the Federal government. The Minister also noted the request of the delegation to include the process of mutation under a one-window operation.