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.
Chief of Army Staff (COAS) General Syed Asim Munir visited the International Defence Exhibition and…
Pakistan Tehreek-e-Insaf (PTI) chapters worldwide have announced protests across multiple countries on November 24, following…
The Pakistan Peoples Party (PPP) has formally demanded the chairmanship of the Public Accounts Committee…
The Council of Islamic Ideology (CII) has clarified that the use of Virtual Private Networks…
The federal government has unveiled a plan to distribute 40,000 electric bikes (e-bikes) to the…
Automechanika Dubai 2024, the 21st edition, is set to run from December 10th to December…
This website uses cookies.