FBR raises property valuation by up to 80pc in 56 cities

In a move to bring property valuations clo­ser to market rates, the Federal Board of Revenue (FBR) has raised property valuation rates to up to 80 per cent across 56 cities, aiming to boost revenue collection and redirect investment into more productive sectors of the economy. The new rates will take effect from Nov 1. This latest revision covers 12 new cities, including Bannu, Chi­niot, Kotli Sattian and Ghora Gali. The government has already implemented several tax measures for the real estate sector in the latest budget. “The valuation rates were moderately revised upward,” FBR Chairman Rashid Mah­mood Langrial said, adding that the valuation prices have been changed based on the type of property, its location and other variables.