ISLAMABAD – The FBR has reduced fair market valuation rates of immovable properties across multiple sectors in Islamabad. The cuts go up to 33% in several areas.
The decision by the FBR comes after strong objections from real estate associations. Property dealers had argued that earlier valuation rates were higher than actual market prices.
After reviewing complaints, the FBR issued a revised notification on Friday. The updated rates apply to both residential and commercial sectors in the capital.
In Sector B-17, possession plot rates have been reduced from Rs30,000 to Rs21,000 per square yard. Non-possession plots now stand at Rs10,500 per square yard.
In Sector C-14, rates have also dropped from Rs30,000 to Rs21,000 per square yard. C-15 now stands at Rs17,500, down from Rs25,000. C-16 has been reduced to Rs14,000 per square yard.
The FBR also revised rates in several other sectors. In D-12, values dropped from Rs130,000 to Rs91,000 per square yard. D-13 now stands at Rs11,500 instead of Rs16,000.
In E-12, rates were reduced to Rs39,200 from Rs56,000. F-15 farmhouse plots now stand at Rs12,500 per square yard after a major cut.
G-13 sector rates have been reduced from Rs100,000 to Rs70,000 per square yard. G-14 now stands at Rs31,500. G-15, G-16, and G-17 also saw revised downward adjustments.
In the I-series, I-11 rates dropped to Rs28,000 per square yard. I-14 has been revised to Rs28,500 per square yard.
However, some premium sectors remain unchanged. F-6 and F-7, along with other high-end areas, still stand at Rs210,000 per square yard.
Officials said the FBR is trying to align official property values with real market conditions. This is the second major revision in recent months.
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Experts say the move may bring relief to buyers and investors. However, it could also impact government revenue collection in the short term.
