FBR establishes new valuations for immovable properties in Islamabad. The Federal Board of Revenue (FBR) has reduced the fair market value of immovable properties in Islamabad following consultation with stakeholders, including the Federation of Realtors Pakistan (FRP).
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Residential and commercial superstructures less than five years old in the federal capital will be valued at Rs2,000 per square foot, while superstructures more than five years old will be valued at Rs1,000 per square foot.
The FBR determined a value of Rs1,50,000 per square yard in sector E7 on December 15, 2021, but the tax department had previously notified a value of Rs250,000 per square yard of any size in E7. Meanwhile, FBR values an immovable property in B17 Islamabad at Rs20,000 and Rs12,000, respectively, with or without possession of a plot, but FBR values land in this community at Rs55,000.
Similarly, the price per square yard of immovable property in Bani Gala will be Rs28,000, down from the FBR’s previous announcement of Rs36,363 per square yard. According to documents, the value of immovable properties in F-8 will be Rs25,000 per square foot, but the FBR had previously announced a value of Rs260,000 per square foot.
Additionally, the FBR has set the price of commercial immovable property in Blue Area at Rs6,80,420 per square foot, while the new value rate for commercial property, including stores, is Rs48,611 per square foot.
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