In an effort to align property values more accurately with market rates, Pakistan’s FBR has raised the official property rates by up to 75% in 56 cities across the country. This adjustment marks the first significant update in two years and comes after extensive discussions with real estate developers and builders.
The updated rates will affect residential, commercial, and industrial properties, with each category assessed separately to offer clearer, market-aligned valuations.
FBR’s decision aims to reduce disparities between official and market property values, facilitating transparency in property transactions and curbing underreporting in real estate dealings. The increased rates are expected to bring the official valuations closer to actual market prices, potentially influencing tax revenues and reducing opportunities for tax evasion.
The 56 cities affected by these changes span Pakistan’s diverse regions, including major urban centers such as Karachi, Lahore, and Islamabad, as well as smaller cities like Attock, Gwadar, and Rahim Yar Khan. The comprehensive list covers locations from all provinces, reflecting the FBR’s country-wide effort to standardize property valuations.
Property owners, buyers, and investors in the affected cities should take note of the updated rates, as these changes could impact both tax obligations and property transactions moving forward.
