The Federal Board of Revenue (FBR) has issued a notification revising the valuation of residential and commercial plots at 68 locations in Islamabad. Under SRO 2390, new valuation rates have been applied for the purchase and sale of properties in the federal capital. The updated rates will cover residential, commercial, and rural areas, reflecting fair market values. FBR officials said the new valuation will impact property transactions, capital gains tax, and withholding tax, increasing transparency in real estate dealings across Islamabad. 

Authorities noted that the new rates could also lead to higher tax revenues from property. Real estate developers, investors, buyers, and sellers are now required to follow the updated valuation tables. FBR officials asserted that adherence to legal regulations and tax laws will be mandatory under the new system. The FBR’s objective is to align declared property values with actual market prices. 

Credit: Independent News Pakistan (INP)