The Federal Board of Revenue (FBR) has updated property valuation rates for Islamabad, affecting residential, commercial, and rural areas across 68 locations, including prominent housing societies like DHA, Zartaj Housing, and Bahria Enclave. The revisions, detailed in SRO 2392, have resulted in significant increases in valuation for high-end areas such as E-7, F-7, F-6, and F-8, while some areas saw reductions, as reported by The News.
Under the new rates, residential and commercial superstructures up to five years old are valued at Rs 4,000 per square foot, while those older than five years are valued at Rs 3,000 per square foot. Rural area valuations remain determined by the Islamabad District Collector’s office.
The updated valuation tables take immediate effect, making all real estate transactions in Islamabad subject to the revised values. This move is expected to enhance transparency, impact capital gains and withholding taxes, and streamline documentation procedures in the city’s growing property market.
Notably, Sector E-7 has emerged as the most expensive area, with residential plots valued at Rs 600,000 per square yard. Other premium sectors like F-7 and F-6 are valued at Rs 500,000 per square yard, while F-8 stands at Rs 450,000 per square yard. Other sectors, including F-10, F-11, and G-6, saw their plot values rise to Rs 350,000 per square yard.
Farmhouse valuations have also been significantly revised, with prices in areas like Chak Shahzad now reaching Rs 11.2 million per kanal, and Gulberg Green touching Rs 17.55 million per kanal.
Commercial plots have seen steep increases, especially in key areas such as D-12 and E-11, now valued at Rs 1 million per square yard. Premium commercial spaces in sectors like E-7 and F-7 have reached up to Rs 2.5 million per square yard.
FBR officials stated that the purpose of these revised valuations is to align declared property transaction prices with actual market rates.
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