LAHORE: The Federal Board of Revenue (FBR) is preparing to raise the property valuation rates from 20% to 100% in 42 major urban centres across Pakistan, depending on the fair market value of the area.
According to a media report, the updated valuation tables, finalized by the FBR, will be forwarded to the Ministry of Law for approval before being formally issued. These revised rates are expected to be implemented within the month, marking the first update since September 2022.
Additionally, the FBR plans to expand the number of cities included in its property valuation system by adding 14 more urban centres, bringing the total to 56 in a future phase.
The FBR is also planning to expand the number of cities covered under its notified property valuation rates by adding 14 more urban centers, which would increase the total from 42 to 56 cities in the next phase.
Currently, the revised valuation rates will be applied to properties in 42 cities, including Abbottabad, Attock, Bahawalpur, Chakwal, Dera Ismail Khan, Dera Ghazi Khan, Faisalabad, Ghotki, Gujranwala, Gujrat, Gwadar, Hafizabad, Haripur, Hyderabad, Islamabad, Jhang, Jhelum, Karachi, Kasur, Khushab, Lahore, Larkana, Lasbela, Lodhran, Mandi Bahauddin, Mansehra, Mardan, Mirpurkhas, Multan, Nankana, Narowal, Peshawar, Quetta, Rahim Yar Khan, Rawalpindi, Sahiwal, Sargodha, Sheikhupura, Sialkot, Sukkur, and Toba Tek Singh.
