FBR Decreases the Valuation Rates of Immovable Properties
News: According to the latest news, the Federal Board of Revenue (FBR) has hinted at decreasing the valuation rates of Immovable properties in 2023. For this purpose, FBR will compare the already implemented valuation rates to the district collector prices. Currently, FBR is just planning to reduce the valuation rates of immovable property in 1,271 regions of Lahore.
This is indeed news for the immovable property owners in Lahore. FBR has indicated that the tariffs for both residential and commercial plots will be updated. The initiative of decreasing the valuation rates has been taken to improve the market value of immovable, this way the sale and purchase will increase benefitting the owners. Moreover, FBR also plans to expand this initiative to different areas of Lahore City.
Federal Board of Revenue has already evaluated the immovable properties in terms of market value in different districts of Lahore. According to the latest announcement by FBR, the valuation rates of both residential and commercial assets. This new rate will be implemented in most regions of Lahore except a few areas that fall under the DC office in Lahore. This notification is implemented via the orders of FBR from January 2022.
Also, keep in mind that the Federal Board of Revenue has also released valuation rates tables for the following cities:
- Abbottabad
- Attock
- Bahawalpur
- Bahawalnagar
- Chakwal
- Dera Ismail Khan
- DG Khan
- Faisalabad
- Ghotki
- Gujranwala
- Gujrat
- Gwadar
- Hafizabad
- Hyderabad
- Islamabad
- Jhang
- Jhelum
- Karachi
- Kasur
- Khushab
- Lahore
- Larkana
- Lasbela
- Mandi Bahauddin
- Mansehra
- Mardan
- Mirpurkhas
- Multan
- Nankana
- Narowal
- Peshawar
- Quetta
- Rahim Yar Khan
- Rawalpindi
- Sahiwal
- Sargodha
- Sheikhupura
- Sialkot
- Sukkur
- Toba Tek Singh.
District Collectors are authorized following the Stamp Act of 1899 to notify about the latest valuation rates of immovable properties that fall in areas under the jurisdiction of FBR.
Keep visiting our website for the latest news, updates, and information about ongoing and new housing projects in different cities of Pakistan!
