The Federal Board of Revenue (FBR) is all set to announce new property rates across Pakistan, with some significant changes. The new rates will cover 54 cities this time, compared to the earlier 42. This update comes after reassessing property prices in various regions, and sources say the new rates will be much closer to market values.
The FBR has already wrapped up the reevaluation, and reports suggest that cities in Balochistan will see a drop in property rates. Major cities like Karachi, Lahore, Islamabad, and Peshawar will have fresh valuations coming up soon. There’s buzz that these new rates could be unveiled as early as this week, but they’re still waiting for the green light from the Ministry of Law. The main idea behind this change is to boost tax revenue through property dealings.
But don’t worry, FBR sources have made it clear that they’re not planning to hold back the real estate and construction sectors. Yes, there might be some increases in taxes for buying and selling property files, but it’s all part of a broader strategy. The property rate decisions were taken after consulting real estate groups, builders, and developers to ensure fair evaluations.
The expanded list of cities includes Bhakkar, Charsadda, Chiniot, Khanewal, Khushab, Mianwali, Sibi, and Swabi. With the new valuations in place, the property market is likely to see some shifts, but it’s all about striking the right balance to ensure fair taxation while encouraging real estate growth.
 is all set to announce new property rates across Pakistan, with some significant changes in the pipeline. The word around is that the new rates will cover 54 cities this time, compared to the earlier 42. This update comes after reassessing property prices in various regions, and sources say the new rates will be much closer to market values.){kind=link}