Property Rates Increase From 10% To 150% Countrywide As Per New FBR Rates List

The Latest FBR rates list would be hiked from 10% to 150 percent across the country. To determine fair market value, the FBR has reviewed the rising values of commercial and residential immovable assets in 35+ cities across Pakistan. In this regard, the FBR has issued roughly 35 notifications aimed at increasing the value of immovable properties as of December 1, 2021

All residential and commercial immovable assets have seen significant enhancement in worth in an effort to take them up to par with their fair market value. FBR’s revised value of immovable assets will be imposed starting December 1, 2021, based on the marla of a few cities. However, the numbers for other cities have been elevated based on the size in square yards.

Notes:

  • Values in the above Table are in rupees;
  • Value is per square yard of the covered area of ground floor plus covered area for the additional floors;
  • property which does not appear to fall in any of the categories shown in the Appendix below shall be deemed to fall I the adjacent lowest category of the Appendix; plus covered area of the additional floors, if any;
  • built up industrial property value is per square yard of the plot area per square foot;
  • a flat means the covered residential tenement having separate property nit number/subproperty unit number;
  • in residential, multi storey building, additional storey shall be charged if it consists of bed room and bath room;
  • the rates for basements of built in commercial property in categories I,II,II and IV shall be Rs. 13,500 per square yard; and
  • High Rises at Serial Number No. 37 of Appendix means a building with Storeys above ground plus five.
  • The Value of Residential built up property is allowed to be reduced according to the following criteria:
  • the value in respect of a residential building consisting of more than one story shall be increased by 25% for each additional story i.e. value of each storey other than ground floor shall be calculated @25% of the value of the ground floor;
  • a whether the land has been granted for more than one purpose. viz residential, commercial and industrial, the valuation in such a case shall be the mean/average prescribed rate whether the land has been granted for more than one purpose. viz residential, commercial and industrial, the valuation in such a case shall be the mean/average prescribed rate;

 (Flats and Apartments)

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