FBR Issues SRO Notification For Immovable Properties

By Faizan Barai Last updated Feb 2, 2019 1,329 0

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The good news from the property market is that the FBR has finally implemented the valuation of immovable property through a recent SRO. The government increased the built-up property prices a bit and flat rate has been introduced throughout the DHA. The benchmark of DHA City has reached 45 lacs. Therefore, filers have to pay tax accordingly. It’s a good move by the government to double the prices instead of going as per fair market prices.

The notification issued by the Federal Board of Revenue stated that the value of immovable properties in columns (2), (3), (4), (5), (6), (7), and (8) of the Table below in respect of categories of areas of Karachi specified in column (1) thereof, namely:-

(i) Values in the above Table are in rupees;
(ii) Value is per square yard of the covered area of ground floor plus covered area for the
additional floor;
(iii) Commercial property built up value is per square yard of the covered area of the ground floor plus the covered area of the additional floor, if any;
(iv) Built up industrial property value is per square yard of the plot area per square foot;
(v) The value in respect of a residential building consisting of more than one storey shall be
increased by 25% for each additional storey i.e. value of each storey other than ground
floor shall be calculated @ 25% of the value of the ground floor;
(vi) A property which does not appear to fall in any of the categories shown in the Appendix
below shall be deemed to fall in the adjacent lowest category of the Appendix;
(vii) 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;
(viii) A flat means the covered residential tenement having separate property unit number/subproperty unit number;
(ix) In residential, multi storey building, the additional storey shall be charged if it consists of a bedroom and bathroom;
(x) the rates for basements of built in commercial property in categories I, II, III and IV shall
be Rs. 13,500 per square yard;
(xi) area-wise categories are in the following Appendix.

AREA-WISE CATEGORIES FOR VALUATION IN KARACHI

S.		Residential	Commercial	Industrial	Flats
No.	Area	Category	Category	Category	Category

1	Abdullah Haroon Road	I	A-I	I	I

2	Akhtar Colony	III	III	II	III

3	Al-Falah Cooperative Housing Society	III	II	II	III

4	Al-Hilal Cooperative Housing Society	I	I	I	I

5	Ali Basti	V	V	II	V

6	Aminabad	III	III	II	III

7	Area Facing Drig Colony (PIA green Col)	IV	IV	II	IV

8	Artilary Maidan Quarters	I	I	I	I

9	Ashraf Nagar	IV	IV	II	IV

10	Azam Basti	III	III	II	III

11	Baba & Bhit Island	IV	IV	II	IV

12	Bakshan Village	IV	IV	II	IV

13	Baldia Town	VI	VI	II	VI

14	Baloch Colony	III	III	II	III

15	Bandar Quarters	I	I	I	I

16	Bath Island	A-I	II	I	A-I

17	Behar Colony Clayton Road	III	III	II	III

18	Bhori Bazar	III	A-I	I	III

19	Bhutta Village	V	V	II	V

20	Bin Qasim (Pipri Excluding Gulshan -e-h	V	V	II	V

21	Bombay Bazar	I	A-I	I	I

22	Buffer Zone 14-A, 14-A, 15-A-1, 15-A-	III	I	I	III
	IIM 1

23	Burns Road	I	I	I	I

24	Cattle Colony	V	V	II	V

25	Chandni Chowk, KDA Scheme-7	III	II	II	III

26	Chando Village PS Defence	IV	IV	II	IV

27	Chanesat Goth	V	V	II	V

28	Civil Lines	A-I	I	II	A-I

29	Clifton Quarters Excluding Shireen	A-I	I	II	A-I
	Jinnah Colony

30	Darakhsahn Cooperative Housing Society	III	II	II	III

31	Defence Housing Authority Phase I, II, III	A-I	I	I	A-I
	& V

32	Defence Housing Authority Phase IV &	A-I	I	I	A-I
	VI

33	Defence Housing Authority Phase VII	A-I	I	I	A-I

34	Defence Housing Authority Phase VII	A-I	I	I	A-I
	Extension, Phase VIII & Phase VIII
	Extension

35	Defence Officers Housing Scheme, Malir	II	II	I	III

36	Deh Drig	IV	IV	II	IV

37	Deh Khata	IV	IV	II	IV

38	Deh Thanno	V	V	II	V

39	Dehli Colony	III	III	II	III

40	Dehli Mercantile	I	I	I	I

41	Depot Line	I	I	I	I

42	Dhoraji Cooperative Housing Society	A-I	I	I	A-I

43	Doda Village	V	V	II	V

44	Drigh Cantonment	III	III	II	III

45	Ejaz Colony	III	III	II	III

46	Fatima Jinnah Colony	I	I	I	I

47	Federal B Area	II	II	I	III

48	Firdous Colony	II	II	I	III

49	Frere Quarters	I	I	I	I

50	Future Colony	V	V	II	V

51	G. Allan road	I	I	I	I

52	Garden East Quarters	A-I	I	I	A-I

53	Garden West Quarters	I	I	I	I

54	Ghulam Hussain Qasim Quarters	I	I	I	I

55	Gizri Village	IV	IV	II	IV

56	Government Approved Katchi Abadies	VI	VI	II	VI

57	Gul Bai	V	V	I	V

58	Gulistan-e-Johar	II	II	II	III

59	Gulnar Cooperati E Housing Society	II	II	I	II

60	Gulshan-e-Faisal	I	I	I	I

61	Gulshan-e-Hadeed	IV	IV	I	IV

62	Gulshan-e-Iqbal Excluding Block-17	II	II	I	III

63	Gulshan-e-Iqbal, Block-7	I	I	I	I

64	Gulshan-e-Iqbal, Block-17	A-I	I	I	A-I

65	Gulshan-e-Jamal Project-II	II	II	I	III

66	Haji Mureed Goth	V	V	II	V

67	Harchandrai Vishandas Quarters		II	II	I	III

68	Hasrat Mohani Colony		IV	IV	II	IV

69	Hawks Bay		IV	IV	II	IV

70	Hyderabad Colony		III	III	II	III

71	I.i. Chundrigar Road		I	A-I	I	I

72	Iqbal Colony		III	III	II	III

73	Ishaqabad		IV	IV	II	IV

74	Jacobline (Inluding Lines Area)		II	II	I	II

75	Jamoria Colony		III	III	II	III

76	Jamshed Quarters		I	I	I	I

77	Joria Bazar		II	A-I	I	I

78	Junna Market		I	I	I	I

79	K B R		V	V	II	V

80	K.D.A. Officers Housing Society		A-I	I	I	I

81	K.D.A. Scheme No.1 & 1A		A-I	I	I	A-I

82	K.P.T. Industrial Area		–		–	–

83	Kagzi Bazar		I	I	I	I

84	Karachi Adminstrative Cooperative		A-I	I	I	A-I
	Housing Society

85	Karachi Cooperative Housing Society		A-I	I	I	A-I

86	Kausar Niazi Colony		V	V	II	V

87	Khaliquzaman Colony		III	III	II	III

88	Khanto Colony		V	V	II	V

89	Khokhrapar		V	V	II	V

90	Khudadad Colony		III	III	II	III

91	Kiamari		IV	IV	II	IV

92	Korangi Industrial Area		–	–	II	–

93	Kornagi Township		V	V	II	V

94	Laiqabad		V	V	II	V

95	Landhi Industrial Area		–	–	I

96	Landhi Township KDA		IV	IV	II	IV

97	Lawrance Quarters		II	II	I	II

98	Lea Quarter		III	III	II	III

99	Liaqatabad		IV	IV	II	IV

100	Liquat Ashraf Colony		VI	IV	II	VI

101	Lyari Quarters		V	V	II	V

102	M.A Jinnah Road		I	I	I	I

103	Mahajir Colony		VI	VI	II	VI

104	Mahmoodabad		III	III	II	IV

105	Malir City		V	V	II	V

106	Malir Cantonment		III	III	III	IV

107	Manghopir Road & Adjacent Locality		VI	VI	II	VI

108	Manora		IV	IV	II	IV

109	Maripure		IV	IV	II	IV

110	Market	Quarters	I	I	I	I

111	Marriot	Road	II	A-I	I	I

112	Metrovil 1		IV	IV	II	IV

113	Metrovil 2 Corridor Area	III	III	II	III

114	Metrovil II & III KDA	V	V	II	V

115	Modal Colony	III	III	III	III

116	Modern Colony	III	III	II	III

117	Mol Jee Street	I	I	I	I

118	Muhammad Ali Cooperative Housing	A-I	I	I	A-I
	Society

119	Muslim Colony	II	II	I	II

120	Muslim Leage Quarter	III	III	III	III

121	Mustafa Abad	V	V	II	V

122	Nafisabad	III	III	II	III

123	Nasim Colony	V	V	II	V

124	National Cement Employees Cooperative	II	II	I	II

125	Navel Colony	IV	II	II	IV

126	Nazimabad	II	II	I	II

127	Neelum Colony	III	III	II	III

128	Nepiar Quarter	II	I	II	II

129	Nevel Colony	IV	II	II	IV

130	New Golimar	V	V	II	V

131	New Challi	I	A-I	I	I

132	North Karachi (All Sectors except 1 to 6 )	III	III	II	III

133	North Karachi Sector 1 To 6 and Buffer	IV	IV	II	IV
	Zone

134	north nazimabad block pqst	II	II	II	II

135	North Nazimabad (excluding Block P,Q)	I	I	I	I

136	Nusrat Bhuto Colony	V	V	II	V

137	Old Frere Street	I	I	I	I

138	Old Golimar	V	V	II	V

139	Old Town Quarters	I	I	I	I

140	Orangabad Quarters	IV	IV	II	IV

141	Orangi Town	V	V	II	V

142	P.I.B. COLONY	III	III	II	III

143	P.S. Mahmoodabad	I	I	I	I

144	Pak Colony	III	III	II	III

145	Pakistan Employees Cooperative Housing	A-I	A-I	I	A-I
	Society

146	Paposh Nagar Quarters	IV	IV	II	IV

147	Paria Street	I	I	I	I

148	Parsi Colony (Silence Towers)	I	I	II	I

149	Pasban Muhallah	V	V	II	V

150	Peerabad	V	V	II	V

151	Preedy Quarters	I	I	I	I

152	Qaidabad	V	V	II	V

153	Qasba Colony	V	V	II	V

154	Qasimabad	IV	IV	II	IV

155	Queens Road Quarters	I	A-I	I	I

156	R.A. Lines	I	I	I	I