Buying or Selling Property in Punjab Just Got More Expensive

The Punjab government has imposed property tax across the province, including Lahore, and increased the annual Deputy Commissioner (DC) rates for property transfers by 5 percent. According to official sources, the revised DC rates are now in effect. Under the new policy, property sellers will pay a federal tax of 4.5 percent on the sale of their property. Buyers are required to pay a 1.5 percent withholding tax on property purchases. From today, all property transfers in Punjab will be processed according to these updated rates.