Federal Board of Revenue has recently released the revised property valuation rates of all major cities in Pakistan. The valuation rates are important as these rates are used for determination of withholding tax at the property of sale of purchase of a property. Valuation rates imply the government’s evaluation of price per square feet of land in a specific area including residential, commercial and agricultural land; as well as the price per square foot of super structure built on the land.
You can simply understand the purpose of valuation by the given example:
If you sell an X property at 1 Crore rupees, and the FBR has determined the value at 70 lacs, you will pay withholding tax at the time of property transfer at 70 lacs FBR value. Similarly, if you sell an X property at 50 lacs, and FBR valuation is 1 Crore, you will have to pay withholding tax at 1 crore value.
FBR valuation covers most of the important cities and areas in Pakistan, however if you cannot see the valuation rates of your city/area, you will have to pay your taxes as per the applicable DC rates.
The revised rate lists were updated by FBR on 29th of October, 2024 on its website. There have been major changes in the FBR values in certain areas where the valuation has been increased up to 75% in a bid to keep official property prices at par with current market prices. However, the change in valuation rates is being considered as another major blow to the already depressed real estate industry in Pakistan.
Following is the list of FBR valuation rates 2024 of all cities arranged in alphabetical order, so you can download the files you need and find out FBR value of your property.
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