Islamabad: Federal board of revenue has issued a new notification increasing property valuation rates in twenty cities. Properties have been divided into different categories with different rates for industrial, residential, commercial units and flats. Average increase in valuation is ranging between 50 and 85 percent.
Following are the cities where valuation has been jacked up.
Notification comes into force from 24th July 2019.
- Karachi has been divided into 8 categories for valuations of properties.
- The values in the tables are in Pakistan rupees.
- The value was per square yard of the covered area of ground floor plus the covered area of additional floors.
- Built up industrial property value is per square yard of plot.
- The value of Residential building consisting of more than one story shall be increased by25 percent for each additional story.
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