The Federal Board of Revenue (FBR) has issued a notification regarding updated property valuation rates in 56 cities across Pakistan, effective from November 1. This move is part of Pakistan’s commitment to the International Monetary Fund (IMF), aimed at increasing tax revenues by aligning property valuations closer to market rates.
In 45 of these cities, property rates will rise by up to 5%, bringing them to approximately 80% of the market value. However, property rates in 11 major cities—including Karachi, Lahore, Islamabad, Rawalpindi, and Multan—will remain unchanged. Other cities where the old rates will persist include Quetta, Gwadar, Bahawalpur, Lasbela, Rahim Yar Khan, and Sargodha.
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The new rates will affect cities such as Peshawar, Abbottabad, Faisalabad, Gujrat, and others, with additional changes applied to places like Attock, Hyderabad, Gujranwala, and Sahiwal. The revised property rates will also impact several smaller cities and districts across the country, including Chakwal, Dera Ghazi Khan, Larkana, and Mardan.
This adjustment is intended to help Pakistan meet its IMF obligations, increasing tax revenues from the real estate sector by reflecting more accurate property valuations.
