Realtors protest hike in tax on property transfer

LAHORE: A number of property dealers and realtors blocked The Mall by staging a sit-in on Thursday against massive increase in taxes on the transfer of property.

Chanting slogans against the government, the realtors reached Charing Cross in groups and vowed to continue protest till bringing ratio of taxes to the level where it was two years ago.

“For the last two years we are almost without work, as the 200pc increase in taxes on the transfer of properties has marred the entire sale and purchase activities in Lahore. The genuine buyers, investors and realtors are in great problem just because of increased taxes,” Muhammad Usman, informatiosecretary newsof the Lahore Property Association told .media92

The estate agents blocked the road after parking their vehicles and lashed out at the Punjab government while delivering speeches from trucks.
“We will only end our protest if the government announces bringing the property transfer rates as they were two years back,” said Iftikhar Ahmad, a realtor.

When police officials reached, the protesters had already occupied The Mall’s main intersection.

Though the police were equipped with water-canon and other tools to disperse the protesters, they preferred to engage the protesters in dialogue, avoiding use of force.

The district administration conveyed the demands of the protesters to the quarters concerned.

“The administration has conveyed all demands of the realtors (to the government), as it didn’t want any clash with them. Let see what happens,” an official told media.92news

Meanwhile, city’s major roads again witnessed traffic congestion after the traffic police stopped motorists from accessing The Mall because of the protest.