New FBR rates list of property increase from 10% to 150% nationwide.

Read Time: 3 mins

New FBR rates list would be raised by an average of 10% to 150% across the country. FBR has revised the upward values of residential and commercial immovable properties in 40 major cities of the country in order to set fair market worth. In this regard, FBR has pushed around 40 notifications this Wednesday to improve the values of immovable properties effective from December 1, 2021. However, on our website we keep FBR old notification for reference purposes.

Old FBR Rates List 

All commercial and residential immovable properties have seen significant improvement in their value in an effort to bring them to at par their fair market worth. . Effective from 1st December 2021, the revised values of immovable properties by FBR will be implemented depending on the marla of some cities. However, for other cities, the values have been raised depending on the size in sq yards.

In exercise of the powers conferred by sub-section (4) of section 68 of
the Income Tax Ordinance, 2001 (XLIX of 2001) and in supersession of its Notification No. S.R.O.837(I)/2021 dated the 23rd July, 2019, the Federal Board of Revenue is pleased to determine the following fair market value of immoveable properties as specified in columns (2) to (9) of the Table below, in respect of categories of areas of Karachi as specified in column (1) thereof, namely:-

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;
• Commercial property built up value is per square yard of the covered area of the ground floor 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;
• 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 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;
• 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;
• 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 of built up property (Flats and Apartments) is allowed to be reduced according to the following criteria:

New FBR Rates AREA-WISE CATEGORY FOR VALUATION IN KARACHI

However, DHA Karachi Residential Property FBR valuation table only increased from 65,000 to 73,125 per SQ yard.

Bahria Town Karachi Residential Property Valuation only increased from 11,200 to 12,320 per SQ yards

DHA City Karachi yellow zone Residential Property Valuation decreased from 10,000 to 6,000 per SQ yard & Sector 3 DHA City Phase 9 increased from 10,000 to 11,000 per SQ yard.

If document does’nt load you can download here