Introduction:
Faisal Town Phase 2 is a new real estate project by Chaudhry Abdul Majeed, the founder of Zedem International. It is similar to other successful projects by Zedem, such as Faisal Hills Taxila, Faisal Town Phase 1, and Faisal Residencia. The management has recently released the transfer fee and sales tax for resale and purchasing in society.
Faisal Town Phase 2 NOC:
The Rawalpindi Development Authority (RDA) has issued Faisal Town Islamabad with a valid No Objection Certificate (NOC). This is a significant development, as the relevant authorities have approved the project, and it will likely be a commercial success. Investors are generally more likely to invest in real estate projects that have obtained all required NOCs, giving them greater confidence in their viability.
Faisal Town Phase 2 Location:
Faisal Town Phase 2 is positioned in a prime spot near the Thalian Interchange, conveniently nestled between the Thalian Interchange and Capital Smart City Housing Society. The society boasts an impressive 8-kilometer frontage along the Motorway (M-2). Additionally, it is located just a short distance from Chakri Road and can be easily accessed within 5-7 minutes from Defense Road. The proximity to Islamabad International Airport adds to its appeal. Furthermore, several housing schemes are under development in the vicinity of Faisal Town Phase 2.
Faisal Town Phase 2’s location is highly advantageous for investors and residents. It is situated in a sought-after area with excellent accessibility, facilitating convenient commuting to and from society. The society benefits from its proximity to essential amenities such as schools, hospitals, mosques, and markets. Faisal Town Phase 2 presents a promising real estate venture, offering diverse investment opportunities. Its well-planned development and advantageous location make it an attractive option for those seeking a sound investment opportunity.
Faisal Town Phase 2 Transfer Fee and Sales Tax:
Transfer Fee
The management of Faisal Town Phase 2 launched the project on October 11, 2022, a day earlier than the previously announced date. Plots were available at pre-launch prices before the launch event. However, new rates will be implemented soon.
Sales Tax
Sales tax is a monetary charge imposed on the real estate sector by government or administrative bodies, such as the Federal Board of Revenue (FBR). This tax is levied on sellers whenever they sell any property. It serves as a financial contribution to the government and is typically calculated as a percentage of the property’s sale price.
Faisal Town Phase 2 Transfer Fee for Different Plot Sizes:
Faisal Town Phase 2 is a recently developed project offering various residential sector investment opportunities. In addition, the society has future plans to introduce commercial plots. Currently, clients have received receipts, and plot files are being issued. Individuals must stay informed about the transfer fee and sales tax associated with Faisal Town Phase 2 as resale activity is expected to commence soon.
Faisal Town Phase 2 provides diverse options for residential investments, and there are upcoming prospects for commercial plots. Clients have received receipts, and plot files are being distributed. Individuals must remain updated on the transfer fee and sales tax applicable to Faisal Town Phase 2. The transfer fee for both resale and purchase transactions in society is 2% of the total plot price, while the sales tax amounts to 15%.
Transfer fees and sales tax for different plot sizes in Faisal Town Phase 2 are as follows:
5 Marla:
For a 5 Marla (25*50) plot, the transfer fee is PKR 8,000/-, and the sales tax is PKR 14,000/-. The total amount payable by the seller is PKR 22,000/-.
7 Marla:
For a 7 Marla plot, the transfer fee is PKR 12,000/-, and the sales tax is PKR 20,000/-. The total amount payable by the seller is PKR 32,000/-.
10 Marla:
For a 10 Marla plot, the transfer fee is PKR 16,000/-, and the sales tax is PKR 27,000/-. The total amount payable by the seller is PKR 43,000/-.
14 Marla:
For a 14 Marla plot, the transfer fee is PKR 21,000/-, and the sales tax is PKR 36,000/-. The total amount payable by the seller is PKR 57,000/-.
20 Marla (1 Kanal):
For a 20 Marla (1 Kanal) residential plot, the transfer fee is PKR 30,000/-, and the sales tax is PKR 50,000/-. The total amount payable by the seller is PKR 80,000/-.
40 Marla (2 Kanal):
For a 40 Marla (2 Kanal) plot, the transfer fee is PKR 60,000/-, and the sales tax is PKR 100,000/-. The total amount payable by the seller is PKR 160,000/-.
Please note that these figures are subject to change, and it is always advisable to verify the latest transfer fees and sales tax rates directly from the relevant authorities or sources.
Conclusion:
Faisal Town Phase 2 is a highly sought-after housing project situated in the desirable vicinity of the Thalian Interchange. It offers a blend of affordability and luxury, making it an attractive choice for homebuyers. The society provides diverse residential options with convenient installment plans, ensuring accessibility for potential buyers. Moreover, Faisal Town Phase 2 offers excellent returns on investment, making it a promising venture for those looking to grow their financial portfolio.
