ISLAMABAD: Minister of Finance, Shaukat Tarin in consultation with the higher authorities of the Federal Board of Revenue (FBR) has decided to extend the deadline for revised valuation rates of properties in 40 cities.
According to the details, the authorities are considering revising the valuation rate by 25 to 50 percent under the Statutory Regulatory Order (SRO) of 2019.
The increase in the valuation rates is being done in response to the conditions of the World Bank (WB) for bringing the valuation rates of the real estate market closer to the real market values.
The federal government has issued the notification for the suspension of revised valuation rates by 31st January, notification for the new revised rates will be issued on 1st February 2022.
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