CDA has announced a major reduction in property transfer fees in Islamabad. The new rate has been lowered from 3% to just 1%. This decision is expected to benefit both buyers and sellers.
Previously, property buyers had to pay a 3% transfer fee. This amount was based on the valuation set by the Federal Board of Revenue. The higher rate increased the cost of property transactions.
With the latest move, the CDA has reduced the financial burden on investors. The new 1% fee will make property transfers more affordable. This change is likely to encourage more activity in the real estate sector.
Officials confirmed that the decision was taken during a recent board meeting. The revised fee structure has been implemented with immediate effect. Authorities have also replaced the previous notification with the updated policy.
The CDA has directed all relevant departments to follow the new rules without delay. Property transactions will now be processed under the reduced fee system. This ensures quick implementation across Islamabad.
Experts believe this step will support market growth. Lower transaction costs often attract more buyers and investors. It can also improve confidence in the property sector.
Real estate agents have welcomed the decision. Many say the reduced fee will help revive stalled deals. It may also increase property registrations in the coming months.
The move is seen as part of broader efforts to ease business conditions. By lowering costs, the CDA aims to create a more investor-friendly environment. This could bring long-term benefits to the capital’s property market.
For sellers, the new rate also provides relief. Lower transfer costs can make properties more attractive to potential buyers. This may speed up the sale process.
Authorities have advised citizens to complete their transactions under the updated policy. They also emphasized the importance of following official procedures.
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Overall, the decision by the CDA marks an important step for Islamabad’s real estate sector. It reflects a focus on reducing costs and improving market activity.
