The Federal Board of Revenue (FBR) has revised the property valuation rates of immovable properties. FBR has reduced the property rates in 40 cities from March 1, 2022, by bringing down the irrational high market values fixed in December 2021.
The FBR has issued 40 notifications to downward revised Property Valuation Rates of Immovable Properties tables here on Thursday.
Previously, in December 2021, to revise the rates of fair market value of immovable properties, the FBR had increased the values of residential and commercial immovable properties located in 40 major cities across the country.
The values of about all residential and commercial immovable properties of Pakistan were increased in an attempt to bring them near to fair market values.
The FBR suspended the valuation notifications till Feb 28 and issued downward revised values of immovable properties from March 1, 2022, in negotiation with stakeholders including developers and builders.
The valuation tables have been revised to collect more taxes from the property sector. The FBR has reduced the market values of residential and commercial immovable properties located in Abbottabad; Attock; Bahawalnagar; Bahawalpur; Chakwal; Dera Ismail Khan; DG Khan; Faisalabad; Ghotki; Gujranwala; Gujrat; Gwadar; Hafizabad; Hyderabad; Islamabad; Jhang; Jhelum; Karachi; Kasur; Khushab; Lahore; Larkana; Lasbala; Mandibahauddin; Mansehra; Mardan; Mirpurkhaas; Multan; Nankna; Narowal; Peshawar; Quetta; Rahim Yar Khan; Rawalpindi; Sahiwal; Sargodha; Sheikhupura; Sialkot; Sukkur, and Toba Tek Singh.
Download Revised Property Valuation Rates Here:
1- REVISION OF VALUE OF IMMOVABLE PROPERTIES FAISALABAD
2- REVISION OF VALUE OF IMMOVABLE PROPERTIES OF ISLAMABAD
3- REVISION OF VALUE OF IMMOVABLE PROPERTIES OF KARACHI
4- REVISION OF VALUE OF IMMOVABLE PROPERTIES OF LAHORE
5- REVISION OF VALUE OF IMMOVABLE PROPERTIES OF PESHAWAR
6- REVISION OF VALUE OF IMMOVABLE PROPERTIES OF QUETTA
7- REVISION OF VALUE OF IMMOVABLE PROPERTIES OF RAWALPINDI
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