Advertisement
Categories: BusinessNewsPakistan

FBR Updates Karachi Property Valuation Rates, Effective November 1

Advertisement

The Federal Board of Revenue (FBR) has implemented revised property valuation rates for Karachi, effective November 1. This adjustment is part of a nationwide initiative to align property valuations closer to actual market prices, aiming to increase revenue and reduce property undervaluation.

New rates vary across Karachi’s neighborhoods. Properties on Abdullah Haroon Road are now valued at Rs. 5,000 per square foot, while Air Force Society properties stand at Rs. 30,000 per square foot. Akhtar Colony and Alfalah Society are set at Rs. 1,400 per square foot, and Ali Basti is valued at Rs. 700.

Additional valuations include Askari I, II, and III at Rs. 1,100 per square foot, Askari IV at Rs. 8,200, and Askari V at Rs. 15,000. In the Defence Housing Authority (DHA) areas, Phase I to VII is valued at Rs. 8,200 per square foot, Phase VII Extension at Rs. 5,000, and Phase VIII at Rs. 7,300.

The FBR’s broader policy targets a 75% valuation of actual market rates across 56 cities in an effort to enhance tax collection.

Advertisement
News Desk

Recent Posts

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…

15 hours 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…

15 hours 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…

15 hours ago

Trade Development Authority of Pakistan to Represent Country at Ambiente Frankfurt 2026

Ambiente Frankfurt 2026, the world’s leading international trade fair for consumer goods, is set to…

15 hours ago

LuckyOne Mall Launches SIMT: A Career Counseling Initiative Honoring Pakistan’s Unsung Heroes

In a powerful demonstration of purpose-driven leadership, LuckyOne Mall—one of Pakistan’s premier lifestyle destinations—has unveiled…

16 hours ago

Over 7 million streaming accounts’ credentials were leaked in 2024: Kaspersky Report

In a new report, Kaspersky identified over 7 million compromised accounts belonging to streaming services…

16 hours ago