The Federal Board of Revenue (FBR) has raised the valuation rates of real estate. FBR notified the rate of immovable property like residential plots, apartments, and commercial areas, etc. of the top cities of Pakistan.
The number of cities being evaluated increased from 20 to 40 while the rates of the area within the cities have also increased. The valuation tables have been revised and the rates increased for the purpose to collect more taxes from the real estate sector. Therefore, the valuation rate has increased by FBR.
Previously, the rates were increased by the Revenue Board from 30% to 85% in 2019. The real estate agents stated that the increase in rates this year went up by 100% to 600% in just one year and the real estate experts feared the sales and purchase of plots and the overall property business might experience a fall in the coming year if the government will not lower the existing valuation rates.
Click on each city to view the updated rates:
Federal capital
Punjab
KP
Sindh
Balochistan
