Advertisement
Categories: BusinessNewsPakistan

FBR to Announce New Property Rates for 54 Cities

Advertisement

The Federal Board of Revenue (FBR) is preparing to unveil updated property rates, expanding its coverage from 42 to 54 cities across Pakistan. Sources suggest that the new rates, along with valuations for an additional 12 cities, will be announced in the coming days.

The reassessment of property prices has already been completed, with the updated figures expected to more accurately reflect current market trends. In a notable shift, property rates in Balochistan are set to decrease, while major urban centers such as Karachi, Lahore, Islamabad, and Peshawar will see revised rates.

The new valuation tables are expected to be released this week, pending approval from the Ministry of Law. These adjustments are aimed at increasing tax revenues from property transactions, though FBR officials have emphasized that the real estate and construction sectors will not be negatively impacted.

However, there is a proposal to raise taxes on individuals involved in the buying and selling of property files, signaling potential changes in how real estate transactions are taxed.

Advertisement
News Desk

Recent Posts

PM Shehbaz Removes PTV Fee from Electricity Bills, Launches Consumer-Led Billing App to Curb Overcharging

Prime Minister Shehbaz Sharif announced on Sunday the complete elimination of the PTV licence fee…

9 hours ago

Strengthening Educational Assessment in Balochistan: AKU-EB Concludes Capacity Building Project with Balochistan Assessment and Examination Commission

The Aga Khan University Examination Board (AKU-EB) has successfully concluded a capacity development and technical…

9 hours ago

Revolutionizing Pakistan’s Digital Landscape: USF Launches 7 New Broadband Services/Ofc Projects of Pkr 7.49 Billion to Enable 3.76 Million Residents From 12 Districts

In a landmark decision, the Universal Service Fund's (USF) Board of Directors has greenlit seven…

9 hours ago

Pakistan Enters Top 100 of Global Passport Index, Eyes Further Gains with Digital Upgrades

Pakistan’s passport has made a notable leap in global mobility rankings, entering the top 100…

1 day ago

International Survey Reveals Pakistanis Support Actions to Address Climate Change

An international survey conducted across 17 total countries, including Pakistan, was commissioned by the Global…

2 days ago

Pakistan’s first AI data center launched

Data Vault Pakistan has officially launched the country’s first AI-focused data center in Karachi, a…

2 days ago