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

Passport Services Resume in Pakistani Missions Abroad

Pakistani Embassies and Consulates in UAE Restored Passport Services On Tuesday, Pakistani embassies and consulates…

3 minutes ago

PM Shehbaz Condemns UAE Missile Attacks

Prime Minister Shehbaz Sharif strongly condemned missile and drone attacks on civilian infrastructure in the…

1 hour ago

PM Shehbaz Condoles Deaths as Storm Hits Turkiye Provinces

Prime Minister Shehbaz Sharif expressed condolences over loss of lives and properties due to a…

2 hours ago

UAE to Discuss Currency Swap Line with US, Trade Minister Says

The United Arab Emirates is mulling a currency swap line with the United States. This…

2 hours ago

Colombia Coal Mine Explosion Kills Nine Workers, Six Injured

Colombia's Cundinamarca province experienced a coal mine explosion on Monday, resulting in the death of…

3 hours ago

Prominent Scholar Maulana Idrees Shot Dead in Charsadda; Two Aides Injured, Police Launch Search

Prominent scholar and former MPA Maulana Idrees was shot dead by unidentified armed assailants in…

4 hours ago