ISLAMABAD: The Federal Board of Revenue has suspended the recently notified property valuation tables in Islamabad, a move seen as a significant relief for the country’s property sector.
The decision comes amid strong opposition from real estate stakeholders, who had rejected the revised valuations announced earlier this month.
The new valuation rates had been imposed by the FBR on December 8, triggering widespread concern within the property sector. Industry representatives argued that the revised rates were unrealistic and would further depress already slowing real estate activity in the federal capital.
Meanwhile, in a separate but related development, the Capital Development Authority has appointed a consultant to assess the fate of Islamabad’s illegal and unplanned colonies. The evaluation will determine whether these settlements should be regularised or face demolition as part of a broader urban planning strategy.
According to a report, the regularisation process is expected to begin with commercial properties located in rural areas and older settlements. This phased approach is intended to address long-standing planning violations while minimising disruption to economic activity.
The consultant has been tasked with compiling detailed data on rural Islamabad, old settlements, and illegal housing schemes. Based on this assessment, recommendations will be submitted to the CDA outlining possible courses of action for each category of settlement.
In addition, proposals will be made to extend the CDA’s jurisdiction to rural areas of Islamabad. Officials believe this step could help improve urban planning, governance, and regulatory oversight in regions that have remained largely outside formal administrative control.
