Islamabad: The FBR increases Property Prices in majority of Cities across the country and has revised the values accordingly.
Starting on November 1, 2024, the revised rates for immovable properties would be in effect nationwide. On Tuesday, the FBR sent out alerts in this regard.
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The property valuations were raised to over 75% of the real market rates under the new notifications.
“In the exercise of the authority granted by subsection (4) of section 68 of the Income Tax Ordinance, 2001, the FBR has established the new fair market value of real estate in relation to the designated areas or categories. In every city, the fair market value of the superstructures for commercial, industrial, and residential regions and properties has also been communicated, according to the notification.
The following cities where FBR increases property prices;
| Faisalabad |
| Ghotki |
| DG Khan |
| Gujranwala |
| Gujrat |
| Gwadar |
| Hafiz Abad |
| Haripur |
| Hyderabad |
| Islamabad |
| Jhang |
| Jhelum |
| Karachi |
| Kasur |
| Khushab |
| Lahore |
| Larkana |
| Lasbela |
| Lodhran |
| Mirpurkhas |
| Mandi Bahauddin |
| Mansehra |
| Mardan |
| Multan |
| Nankana |
| Narowal |
| Peshawar |
| Abbottabad |
| Attock |
| Dera Ismail Khan |
| Bahawalpur |
| Chakwal |
| Quetta |
| Rahim Yar Khan |
| Toba-Tek Singh |
| Rawalpindi |
| Sahiwal |
| Sargodha |
| Sheikhupura |
| Sialkot |
| Sukkur |
The Federal Tax Ombudsman-FTO authorized FBR to update the prices of real estate across the country until October 11, 2024.
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