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.
Pakistani Embassies and Consulates in UAE Restored Passport Services On Tuesday, Pakistani embassies and consulates…
Prime Minister Shehbaz Sharif strongly condemned missile and drone attacks on civilian infrastructure in the…
Prime Minister Shehbaz Sharif expressed condolences over loss of lives and properties due to a…
The United Arab Emirates is mulling a currency swap line with the United States. This…
Colombia's Cundinamarca province experienced a coal mine explosion on Monday, resulting in the death of…
Prominent scholar and former MPA Maulana Idrees was shot dead by unidentified armed assailants in…
This website uses cookies.
