Black money disappearing from Karachi property market

[zulu]

Time 58:37
Kamran khan with Ashfaq Tola(tax expert) and Noor Abrejo(president property agent association defence/clifton)
MAIN POINTS
1)valuation table now 85% of market value
2)20% in February 2019 before now again 30% in July 2019 by FBR
3)way to documented stopping sattay bazi,baynaami and black money
4)Govt revenue increases as per valuation tables
5)property prices stop increasing for last 2 months
6)have to show source of income too all payments by cheque /pay orders only no cash transaction
7)Market coming out of uncertainty feeling as was waiting for table now activities started again
8)All laws complying with FATF money laundering laws

@ps3linux uthy ki haal hai aab ISB aur LHR bhi peechy nahi thy
@The Accountant @Reddington

 

[Hakikat ve Hikmet]

Now is the time to confiscate that black money and the stuffs it bought...

 

[Imran Khan]

we are orignal buyers i don't care

 

[zulu]

Sir ji aap ky 19000 RS still on radar be careful sara mela rachaya hi uss ky liye hai

we are orignal buyers i don't care

 

[Imran Khan]

Sir ji aap ky 19000 RS still on radar be careful sara mela rachaya hi uss ky liye hai

bhai wo to hum kab ke pi gaay ab kya ghanta leny a rahy hai ?

 

[zulu]

Mery 1900RS ka loss kara diyaa aap ny as govt proposed scheme of 10%

bhai wo to hum kab ke pi gaay ab kya ghanta leny a rahy hai ?

 

[pak-marine]

Khi market was a massive bubble its Heading towards A correction .. satta market dead people moving money to other ventures

 

[Imran Khan]

Mery 1900RS ka loss kara diyaa aap ny as govt proposed scheme of 10%

ab mujhy pakra to 190 jeeb se dena hoga gher taxi per jany ke

 

[zulu]

Ha ha no thanx aab aap sy doori hi bhalii ulta aap ny Shabbar Zaidi sy 190RS nikalwa lainy hain whole FBR gonna fear u.But this is good development as those things drive the prices out of range for genuine parties they make it an business no real value to country economy

ab mujhy pakra to 190 jeeb se dena hoga gher taxi per jany ke

 

[Imran Khan]

Ha ha no thanx aab aap sy doori hi bhalii ulta aap ny Shabbar Zaidi sy 190RS nikalwa lainy hain whole FBR gonna fear u.But this is good development as those things drive the prices out of range for genuine parties they make it an business no real value to country economy

every orignal buyer should be happy sir

 

[greenblooded]

i guess fatf has been a good thing for pakistan.

 

[The Accountant]

Time 58:37
Kamran khan with Ashfaq Tola(tax expert) and Noor Abrejo(president property agent association defence/clifton)
MAIN POINTS
1)valuation table now 85% of market value
2)20% in February 2019 before now again 30% in July 2019 by FBR
3)way to documented stopping sattay bazi,baynaami and black money
4)Govt revenue increases as per valuation tables
5)property prices stop increasing for last 2 months
6)have to show source of income too all payments by cheque /pay orders only no cash transaction
7)Market coming out of uncertainty feeling as was waiting for table now activities started again
8)All laws complying with FATF money laundering laws

@ps3linux uthy ki haal hai aab ISB aur LHR bhi peechy nahi thy
@The Accountant @Reddington

Property market is real slow here.

For corporates there is one more area to extract out black money without paying tax and that is cash salaries. Most of the business owners take out profits by showing cash salaries. I hope salary payment should also be allowed through banking channels only.

 

[ps3linux]

Time 58:37
Kamran khan with Ashfaq Tola(tax expert) and Noor Abrejo(president property agent association defence/clifton)
MAIN POINTS
@ps3linux uthy ki haal hai aab ISB aur LHR bhi peechy nahi thy
@The Accountant @Reddington

Yaar property prices have declined sharply in the last few months although it depends on whether you are a buyer or a seller. For sellers its a discount of 30-50% on land/house from the base price of last year, but if you are a buyer they try to shove last years price.

Generally it is now considered a dead investment for speculators who have now moved on to smaller units, on another note just look at the inventory that Toyota/Honda have buildup of finished cars previously it was all purchased by speculators and genuine buyer had to coughup Own money, now the only car left for this crap is Suzuki Alto new model along that death box Bolan. In order to curb this menace of speculators GoP must change societies act and bring all societies into real tax net.

 

[The Accountant]

Yaar property prices have declined sharply in the last few months although it depends on whether you are a buyer or a seller. For sellers its a discount of 30-50% on land/house from the base price of last year, but if you are a buyer they try to shove last years price.

Generally it is now considered a dead investment for speculators who have now moved on to smaller units, on another note just look at the inventory that Toyota/Honda have buildup of finished cars previously it was all purchased by speculators and genuine buyer had to coughup Own money, now the only car left for this crap is Suzuki Alto new model along that death box Bolan. In order to curb this menace of speculators GoP must change societies act and bring all societies into real tax net.

But 30 to 50 pecent decline i feel are highly exagerated numbers ... in some area where there was pure speculation like bahria prices has decline by 50% but in others prices are stable or even rising loke Gulshan, PECHD ... the premium areas which are already over crowded and unless u pay the demanded prices there is no chance of getting any property ... so on average prices are stagnant and speculative plots trading has stopped

 

[ps3linux]

But 30 to 50 pecent decline i feel are highly exagerated numbers ... in some area where there was pure speculation like bahria prices has decline by 50% but in others prices are stable or even rising loke Gulshan, PECHD ... the premium areas which are already over crowded and unless u pay the demanded prices there is no chance of getting any property ... so on average prices are stagnant and speculative plots trading has stopped

Bhai you know better than this, speculative buying/selling takes place in schemes/areas/societies where there is an abundance of "for sale" wholesale if you want to call it. For that the best areas in my city (twin cities) are bahria phase 7/8, DHA 3, DHA valley, and all other shi**y sham schemes that keep popping up regularly.

My house is in a well developed old (about two decades old developed area) Pindi cannt there cant be any speculative buying in that area most of the land is already sold, over 95% is already constructed and people are living in it so no wholesale buy/sell. In Lhr my place of posting old developed areas property value is more or less stagnant or some discount, but the random shi**y schemes appearing near motorways, near thokar niaz baig, raiwaind road, ferozepur road their values have gone to shi**er.

When it comes to Karachi our own house in PECHS and one near tariq Road, we kept getting offers on them but for the last few month they have come to a halt. PECHS/Tariq Road/Johar, Rashid Minhas Road, University Road, Nazimabad, F.B Area, DHA I think are well developed and no more speculative buying possible. It should however have been possible in Bahria and all those crappy societies that started appearing around the same area as bahria. Been a while that I have driven on highway from sohrab goth, I am sure some junk might have popped up there as well these are the places where speculators should be playing around with property values.

I know a premier housing society and one of the key developer in Pakistan had 4000 files of the society, on daily basis near Bahria head Office Phase 8 Rwp, they would fix the rate of plots in the morning like stock exchange along major societies in Rwp/Isb and it would fluctuate during the course of the day, I know some speculators who made billions out of it, if you knew the right people it want difficult to find Prados filled to capacity with cash just for the same transactions, even remembering going their and meeting some of the people makes me want to puke disgusting corrupt thieves from every walk of life.

As I am in such a business of financial markets that I have to interact with such people on almost daily basis, almost all of them are whining these days of rapidly falling prices in the range of 30-50%.