The Federal Board of Revenue (FBR) has announced the new fair market value of immovable properties of Capital areas. The announced value is lowered than the rates, announced by the tax-collecting agency earlier as there was a big protest against those values.
As per available details, the value of up to five year old residential and commercial superstructures in the capital are will be Rs 2,000 per square foot and for the residential and commercial superstructure more than five year old, the value would be Rs 1,000 per square foot.
Read more: FBR hikes property valuation rates by 100% to over 600% in one go
The value in sector E7 will be Rs 1,50,000 per square yard. The value was Rs 250,000 per square yard of any size in E7 as was announced by FBR on December 15, 2021.
Meanwhile, the value of the immovable property in B17 would be Rs 20,000 up to five year old residential and commercial superstructure and Rs 12,000 for the superstructure of more than five year. Earlier, the rates were Rs 55,000 in this society.
The value of immovable properties in Bani Gala according to FBR would be Rs 28,000 which was Rs 36,363 per square yard earlier.
In sector F8, the value of immovable property including flats and apartments would be Rs 25,000 per square foot which was Rs 260,000 value of flats per square foot as was announced earlier.
The value of immovable property in Blue area will be Rs 48,611 per square foot which was Rs 6,80,420 as was notified on December 15, 2021.
The value of industrial immovable structure in i9, i10 and Kahuta Triangle have been set at Rs 10 million, Rs 10 million and Rs 0.6 million per kanal respectively which were Rs 40 million, Rs 40 million and Rs 10 million respectively as per notification of December 15, 2021.
Now the value of immovable property of agro, poultry and vegetable farm would be Rs 8 million in Chak Shahazad as compared to Rs 10 million as per old notification.
The rates of residential immovable property in Bahria Enclave Islamabad in Sectors A,B and C would be Rs 40,000 which was Rs 62,809 as per notification of December 15,2021.
